December 22, 2021 (Source) — FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) (“Fission 3” or “the Company”) is pleased to announce that on-site lake-ice preparation is underway to support a 4000-meter drill program on its 100% owned flagship Patterson Lake North “PLN” project in Canada. In addition ground geophysical surveys consisting of DC Resistivity and Time Domain electromagnetic surveys, designed to refine drill targeting, have commenced at the Broach Lake area. Located in the same area as where Fission Uranium Corp and NexGen Energy are advancing their world-class, large, high-grade uranium deposits PLN is amongst the highest ranked projects in Fission 3’s extensive portfolio. Previous drill programs at PLN have identified basement hosted uranium mineralization supported by the presence of alteration, pathfinder structural disturbance supporting large-scale potential of the area.
News Highlights:
- Drilling in winter 2022 with two diamond drill rigs will focus on the prospective and previously untested Broach Lake and N Conductor Targets.
- Ground Geophysics has commenced at Broach Lake to refine the targets for the upcoming drilling in the new year. The work consists of 22 line-km of DC Resistivity and four line-km of Time Domain electromagnetic (TDEM) surveying.
- Fission 3.0 has received proceeds of $690,500 from warrants recently exercised.
Upcoming PLN Winter Drill Program:
Broach Lake Targets:
The Broach Lake conductors are ~9 km to the north, adjacent and parallel to EM conductors of the Patterson Lake Structural Corridor, host to Fission Uranium’s Triple R deposit and NexGen’s Arrow Deposit.
N Conductor Targets:
The N Conductors are interpreted as multiple parallel basement EM conductors with an overlying low resistivity zone referred to as the “Chimney” target in the lower part of the sandstone. Deep drilling is planned to test these basement conductors.
About Patterson Lake North:
The Patterson Lake North property (PLN) lies adjacent and immediately north of the Patterson Lake South property (PLS), owned by Fission Uranium Corp. where uranium mineralization has been traced by core drilling at PLS over ~3.18 km of east-west strike length in five separated mineralized “zones” which collectively make up the Triple R deposit, and where a Feasibility Study has commenced. Previous drilling at PLN by Fission 3 in 2014 identified a mineralized structure associated with the ~3 km long A1 conductor with strongly anomalous geochemistry, including uranium values, in addition to common pathfinder elements including boron, copper, nickel and zinc. Drill hole PLN 14-019 intercepted a 7.5 m interval (191.5 m – 199.0 m) of anomalous radioactivity with peak measurements up to 1450 cps (as measured by handheld spectrometer) over 0.5 m within a strongly clay altered and brecciated graphitic gneiss which assayed 0.5 m of 0.47% U3O8 within 6.0 m of 0.12% U3O8.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high-grade uranium discoveries. Fission 3.0 currently has 16 projects in the Athabasca Basin. Several of Fission 3.0’s projects are near large uranium discoveries, including Arrow, Triple R and Hurricane deposits. Fission 3.0 has recently completed an $8 million financing with Red Cloud Securities Inc.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a qualified person.
ON BEHALF OF THE BOARD
“Dev Randhawa”
____________________________
Dev Randhawa, CEO
Investor Relations
Ph: 778-484-8030
TF: 844-484-8030
[email protected]
www.fission3corp.com
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