- Published: 22 February 2010
- Written by Editor
Fission Intersects 12m of 3.64% U308 Including Mineralization as High as 45.2% U308
FISSION ENERGY CORP. (TSX VENTURE: FIS) ("Fission" or the "Company") and its joint venture partner, the KEPCO Consortium, announces that drill hole WAT10-066, located immediately south of the high-grade mineralization encountered in the WAT10-063A, intersected a 12.0m interval at the unconformity (202.0m-214.0m) grading 3.64% U308, including 1.50m at 27.38% U308. The maximum grade identified within the 1.50m intercept was 0.50m of 45.2% U308. Table 1, shown below, highlights the latest assay results. In addition, further assays for gold and platinum group metals content are forthcoming. These latest results reinforce Fission's belief that the J-Zone represents a significant new discovery of unconformity mineralization at the Company's Waterbury Lake Project in the Athabasca Basin.
Table 1: Waterbury Lake, Athabasca Basin: J-Zone Assays for Holes WAT10-064D, 065A, 066
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Zone Hole ID From (m) To (m) Interval (m) U308 (wt%)
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J-Zone WAT10-064D 211.00 213.50 2.50 0.10
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J-Zone WAT10-065A 203.50 205.50 2.00 1.62
Includes 204.00 205.00 1.00 3.02
212.00 215.50 3.50 0.09
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J-Zone WAT10-066 202.00 214.00 12.00 3.64
Includes 204.00 205.50 1.50 27.38
Includes 204.00 204.50 0.50 45.20
217.00 218.50 1.50 0.18
223.00 226.50 3.50 0.19
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Composite Parameters
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1. Minimum Thickness: 1.50m
2. Grade Cut-off: 0.05 U308 (wt%)
All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Other notable results include hole WAT10-065A which intersected 2.0m at the unconformity (203.5m-205.5m) grading 1.62% U308 and hole WAT10-64D which assayed 0.10% U308 over 2.0m (211.0m and 213.5m).
The J-Zone remains open at depth and along strike. Fission plans to continue drilling through February to mid-March. Further results will be provided when available.
A map of the J-Zone and tables summarizing drill hole location, core hand-held Scintillometer Readings, and complete assay results to date can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp.
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (www.kepco.co.kr)
Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium primarily comprised of Korean-based companies. Led by Korea Electric Power, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Fission Energy Corp. Bob Hemmerling Investor Relations TF: 877-868-8140 This email address is being protected from spambots. You need JavaScript enabled to view it. www.fission-energy.com
SOURCE: Fission Energy Corp.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.fission-energy.com
