Proactive Investor's  Instablog

Fission Energy Corp (CVE:FIS) and its 50-50 joint venture partner, ESO Uranium Corp (CVE:ESO), announced Wednesday that boulder assays at the Patterson Lake South property discovered high-grade uranium.

The prospecting and radon survey program collected 74 boulders and mineralized soil samples. The boulders ranged in size from gravel material, to mineralized cobbles, to large rocks, measuring up to 45 centimeters (cm) by 35 cm by 30 cm.

Assays from the boulders revealed that 25 boulders had triuranium octoxide, the naturally occurring form of uranium, grading at least 10%. The highest grade that the assays returned was 39.6% from a cobble measuring 5 cm by 4 cm by 4 cm in size.

An additional 23 boulders returned assays between 1% and 10% triuranium octoxide. 

The boulder field has since been traced along a north-south trending length approximately five kilometres long and up to 0.9 kilometres wide.

The distribution of the samples implies that the mineralized boulders could be from more than one source. Still, the uranium-focused resource company said that radon anomalies have been located at both the boulder field and over a target area near Patterson Lake.