De-Risking Project With 43-Hole Drill Programme In Saskathchewan
Fission Uranium Corp. (TSX:FCU) has unveiled drilling plans for 2021, which include a 43-hole (12,640 m) programme at its PLS property – host to the large, high-grade and near surface Triple R deposit in Saskatchewan, Canada.
The fully funded programme aims to increase the Indicated classified resource of the Triple R deposit’s R780E zone, and also upgrade to Indicated the large R840W zone, located on land, ~500m west of Patterson Lake.
The R840W zone is at present substantially drilled to Inferred classification, and thus not currently included in the resource used in the prefeasibility study.
Ross McElroy, CEO for Fission, said the upcoming programme will focus on the R780E drilling, while a northern summer programme will focus on the R840W drilling.
Fission is planning to advance the PLS project with a feasibility study beginning in 2021 and the success of the planned drill programme has the potential to increase the resource used in that study.
The upcoming drilling campaign will include both infill and step-outs from known mineralization and at a spacing of ~15m x 20m (horizontal / vertical) to allow for conversion from Inferred to Indicated. Drill holes on and around line 900E have the potential to intersect the projected plunge of the high-grade core at R780E.
The norther summer drilling programme is expected to be completed in Q3, 2021
Fission is planning to drill 23 holes for a total of approximately 5,440m.
Infill drilling will result in intersection spacing of ~15m x 20m (horizontal / vertical), between holes, which has the potential to convert the majority of the R840W zone to Indicated category and thus the potential to be included in the feasibility study resource.
“As we plan to advance the PLS high-grade uranium project to a feasibility study, one of our key goals is to maximize the size and quality of the Triple R deposit,” Mr McElroy said.
“This drill programme is therefore designed to potentially expand the resource that can be used in the Feasibility study, while also further de-risking the project as a whole.
“Of note, this programme has the potential to allow for the inclusion of the R840W zone in the feasibility resource and mine plan.”
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized “zones” which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.
The company completed and filed a prefeasibility “PFS” study in November 2019. The report summarizes the Pre-Feasibility Study (UG PFS), which outlines an underground-only mining scenario for PLS which to date has only considered the R00E and R780E zones.
Further work, including additional drilling may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the Feasibility Study mine plan.
