| | Publié le 06 avril 2010 | Latest Vertical Step-Out Drilling Identifies 2.19m "Off-Scale" Radioactivity and Extends "J-Zone" t |
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Re: News Release - Tuesday, April 06, 2010 Title: Fission Energy's Latest Vertical Step-Out Drilling Identifies 2.19m "Off-Scale" Radioactivity and Extends "J-Zone" to 90m X 50m
FISSION ENERGY CORP. ("Fission" or the "Company") announces it has completed four additional vertical oriented step-out drill holes (WAT10-089, 091, 093, 095) and one angled step-out hole (WAT10-096), which have extended the J-Zone's east-west trending mineralized strike length to approximately 90m and 50m wide, north-south. Three of the five holes intersected highly radioactive mineralization at the unconformity, with holes 091 and 089 identifying "off-scale" (cps > 9,999) radioactivity intercepts of 2.19m and 0.05m respectively.
Hole WAT10-091 has extended mineralization approximately 10m to the south of hole WAT10-071 (6.0m grading 14.70% U308, including 4.0m of 21.20% U308; see news release dated March 15, 2010). Drill holes WAT10-089 and 093 were drilled to the west along strike. Hole 093, which is now the furthest vertical step-out to the west, intersected high levels of radioactivity over 1.5m (195.0m-196.5m), while hole WAT10-096, located 10m east of the discovery hole WAT10-063A, intersected anomalous radioactivity over 3m (211.0-214.0). No anomalous radioactivity was identified in hole WAT10-095, which was drilled approximately 65m east of the "J-Zone".
Drilling continues to demonstrate that mineralization is trending laterally to the west, in addition to remaining open both to the north and south. The completion of these latest five drill holes marks the conclusion of Fission's winter program at Waterbury Lake. Of the 26 drill holes that tested the J-Zone, 21 holes intersected mineralization at or near the unconformity for a mineralized intersection success rate of 81%. Assays are pending on 16 drill holes, and will be reported as the Company receives them.
An updated map of the J-Zone showing the location of the latest five drill holes and a table summarizing Drill Core Hand-Held Scintillometer Readings can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
Drill Hole Summary
All holes reported herein, with the exception of WAT10-096 are collared at a vertical orientation, and terminated within unaltered basement rocks. Given that the mineralization thus far encountered appears to be almost flat-lying, drill intercepts reported from vertical holes are approximately true thickness. Results for the latest holes are summarized as follows:
Hole WAT10-091 intersected 4.0m of highly anomalous radioactivity (200.0m-204.0m), including a 2.19m (200.86-203.05) intercept of "off-scale" radioactivity. The off-scale mineralization occurs within an interval with ~50% core loss. Anomalous radioactivity occurs immediately below the unconformity.
The basement rocks from the unconformity to 246.1m are comprised of pelitic to semipelitic gneiss. A quartz-feldspar gneiss was intersected from 246.1m to 275.0m (EOH).
WAT10-091 was collared 10m south of hole WAT10-071 and completed to a depth of 275.0m, with the unconformity intersected at approximately 199.1m.
Hole WAT10-093 intersected 10m of anomalous and variable radioactivity (191.0m-201.0m), with hand scintillometer readings up to 7,100 cps. The hole encountered moderate to strongly fractured rock beginning ~60m above the unconformity to 197.0m. Very strong clay alteration is present from 188.5m to 197.0m, primarily hematite and chlorite alteration.
The basement rocks are comprised of pelitic gneiss (locally graphitic) with intermittent pegmatite-rich intervals.
WAT10-093 hole was collared 15m west of hole WAT10-087 and is now the furthest vertical step-out completed to the west. The hole was drilled to a depth of 290.0m, with the unconformity intersected at approximately 195.8m.
Hole WAT10-089 intersected 3.5m of anomalous radioactive mineralization (194m-197.5m), including an intercept 0.05m of "off scale" radioactivity associated with moderate clay alteration and locally strongly faulted and fractured rock. The hole intersected moderate to strongly fractured rock beginning 10m above the unconformity to 202.0m. Moderate to strong hematite alteration is present from 191.0m to 197.0m. An interval of very strong alteration associated with a major fault zone was intersected from to 213.5m to 231.5m.
The basement rocks are comprised of pelitic gneiss (locally graphitic) with intermittent pegmatite-rich intervals.
WAT10-089 was collared 10m northwest of hole WAT10-087 and completed to a depth of 296.0m. The unconformity was intersected at approximately 196.3m.
Hole WAT10-096 intersected a 2.0m interval of anomalous radioactivity (212.0m- 214.0m) with hand scintillometer readings up to 800 cps. The sandstone is moderately fractured from 187.6m to 202.7m. The basement rocks are moderately to strongly fractured and altered from 202.7m to 266.2m, with faulting and healed breccias present intermittently throughout.
The basement rocks from the unconformity to 311.0m (EOH) comprise a package of metapelitic gneiss (locally graphitic), with intermittent pegmatite-rich intervals.
WAT10-096 was collared at an orientation of 330� and a dip of -80� and completed to a depth of 311.0m. The target was to test ~15m NE east of the mineralization in discovery hole WAT10-063A. The unconformity was intersected at approximately 202.7m.
Hole WAT10-095 located 15m SW of hole WAT10-094A did not identify any anomalous hand scintillometer radioactive readings.
Plans are underway for a summer drill program that will continue to delineate the "J-Zone", the newly discovered "Highland Zone" and other land based targets. Details will be provided when available.
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.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
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. Further updates will be provided.
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".
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"
Ross McElroy, President & COO
Investor Relations Bob Hemmerling TF: 877-868-8140 info@fission-energy.com www.fission-energy.com
Copyright � 2010 FISSION ENERGY CORP. (FIS) All rights reserved. For more information visit our website at http://www.fission-energy.com/ or send email to info@fission-energy.com ..
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Fission Energy Corporation
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CODE : FIS.V |
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Fission Energy est une société d’exploration minière de nickel et d'uranium basée au Canada. Fission Energy détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont NORTH SHORE, FORT MCLEOD, MINOR BAY, ZOO BAY, DAVY LAKE, WATERBURY LAKE, PATTERSON LAKE, DIETER LAKE, DUDDRIDGE LAKE, CARIBOU MOUNTAINS et SOUTH SHORE au Canada, THE MACUSANI PROPERTY au Perou et TORWALT LAKE en Australie. Fission Energy est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 118,3 millions CA$ (115,3 millions US$, 88,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 23 mai 2008 à 1,64 CA$, et son plus bas niveau récent le 17 octobre 2008 à 0,09 CA$. Fission Energy possède 124 534 000 actions en circulation. |
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