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  • Fission Energy locates further 20 radioactive boulders at Patterson South 0 comments
    Jul 5, 2011 3:22 PM | about stocks: FIS

    Fission Energy Corp (TSE:FIS)(OTCQX:FSSIF) said Tuesday it has completed the boulder prospecting and survey program at its Patterson Lake South uranium property, together with 50/50 joint venture partner ESO Uranium Corp, with encouraging results.

    The companies said an additional 20 radioactive boulders and hot spots were discovered on the claims in Saskatchewan, for a total of 74.

    Of this, 42, or 57% produced "off-scale" radioactive readings as measured by hand held gamma ray scintillometers. Samples have been submitted to the lab, and assays will be reported when available.

    In addition, Fission said that four claims, comprising an area of roughly 30,000 acres, have been acquired through staking, bringing the total land package to 12 claims, or 63,000 acres.

    This means the uranium boulder field now exceeds four kilometres in its longest north-south dimension, and is up to 0.9 kilometres in its east-west dimension.

    The Patterson Lake South property is accessible by all weather Highway 955, which runs north to the former Cluff Lake Mine, where more than 60 million pounds of uranium was produced.

    "While there is no certainty that any in situ uranium deposits will be discovered on the property, the next challenge for the joint venture is to locate and define the source of its uranium boulders," Fission concluded in a statement.

    Themes: TSX Stocks: FIS
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