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  • Fission Uranium Envisions Possibility Of "One Very Large Zone" At Patterson Lake South 0 comments
    Jan 28, 2014 6:31 PM | about stocks: FCUUF

    Ever in search of new superlatives for Patterson Lake South, Fission Uranium claims its best hole yet for total composite (not continuous) off-scale scintillometer readings. The company released results on January 27 for the first five holes of winter drilling, which it said narrowed the gaps between high-grade zones R390E and R945E, the third to sixth of seven zones along a 1.78-kilometre strike. All five holes produced off-scale readings, prompting company president/COO and chief geologist Ross McElroy to say the news provides "further evidence that the system consists of one very large zone."

    The hand-held scintillometer measures gamma ray particles in drill core up to a maximum off-scale reading above 9,999 counts per second. Scintillometer results are no substitute for assays, which will likely follow in weeks or months.

    Among the best holes, PLS14-129 showed a continuous 9.5 metres above 9,999 cps, among a total of 36.72 metres of off-scale results. Total mineralization came to 111.5 metres between downhole depths of 56 metres and 268 metres.

    PLS14-126 showed 3.09 metres of composite off-scale radioactivity within 64.5 metres of composite mineralization between depths of 131 metres and 374 metres.

    PLS14-125 showed 1.96 metres of composite off-scale radioactivity within 88 metres of composite mineralization between depths of 70 metres and 240.5 metres.

    Just one week earlier the company announced the start of its winter campaign, in which five rigs will drill 30,000 metres in 90 holes. Along with geophysics, the current program will use up about $12 million of this year's $20-million budget.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: FCUUF
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