Patterson Lake South
Photo by: Fission Uranium
TORONTO (miningweekly.com) – Canadian explorer Fission Uranium on Monday reported that ongoing exploration drilling at its Patterson Lake South (PLS) project, in the Athabasca basin of Saskatchewan, had uncovered “exceptional” results and one particular hole set a new mineralisation record, with its location merging four previously separate high-grade zones.
The Kelowna, British Columbia-based company, which is undertaking a 90-hole winter drill and geophysical programme said that of “exceptional note and importance” was hole PLS14-187 on line 660E.
The hole, with mineralisation starting at the shallow depth of 58.5 m, had returned 53.47m of total composite off-scale (>9999 cps) radioactivity in 146 m of total composite mineralisation on line 660E and closed the gap between the R390E and R780E high-grade zones.
Fission said that the hole is still in progress at a current depth of 407 m, in altered but unmineralised pelitic gneiss. All nine other recently completed holes encountered wide mineralisation, with seven intersecting substantial off-scale radioactivity.
"The sheer strength and scale of results from PLS continues to impress us. Hole PLS14-187 has returned total composited off-scale width results 46% more than hole PLS14-129, which itself ranks with the top drill holes in the basin.
“Not only does the new hole set a new record at PLS but its location means the winter programme has now succeeded in merging four high-grade zones (R390E, R585E, R780E and R945E) into one much larger one (R780E)," Fission president, COO and chief geologist Ross McElroy said.
The amount of composite off-scale radioactivity in hole PLS14-187 far surpassed hole PLS14-129 (line 600E) which intersected 36.72 m of off-scale radioactivity, and later assayed at 38.49% uranium oxide over 10.5 m.
Fission’s TSX-listed stock jumped to an intraday high of C$1.69 before settling at C$1.63 in afternoon trading.