Fission Energy Corp’s (TSX-V: FIS) Waterbury Lake exploration property continues to return ‘off-scale’ radioactivity (more than than 9,999 counts per second, cpd), as step-out drilling continues to extend the J-Zone. Three of the latest five holes have intersected highly radioactive mineralization, of which two encountered ‘off-scale’ radioactivity with intercepts of 2.19m and 0.05m respectively.
These five holes have further extended the J-Zone’s Zone's east-west trending mineralized strike length to approximately 90m and 50m wide, north-south.
“Drilling continues to demonstrate that mineralization is trending laterally to the west, in addition to remaining open both to the north and south. The completion of these latest five drill holes marks the conclusion of Fission's winter program at Waterbury Lake”, Fission stated.
The latest batch of results comes from four vertically oriented step-out drill holes, WAT10-089, 091, 093, 095 and one angled step-out hole WAT10-096.
WAT10-091 has extended mineralization approximately 10m to the south of the previously reported WAT10-071 (March 15 2010). WAT10-091 was drilled to 275m, and it intersected 4m of highly anomalous radioactivity between 200m-204m, including a 2.19m intercept of ‘off-scale’ radioactivity.
WAT10-089 and 093 were drilled to the west along strike. WAT10-089 intersected 3.5m of anomalous radioactive mineralization between 194m-197.5m, including an intercept 0.05m of ‘off scale’ radioactivity associated with moderate clay alteration and locally strongly faulted and fractured rock.
WAT10-093 is now the furthest vertical step-out to the west, and it intersected high levels of radioactivity over 1.5m between 195m-196.5m, with hand scintillometer readings up to 7,100 counts per second (cps). WAT10-096 intersected anomalous radioactivity over 3m and no anomalous radioactivity was identified in WAT10-095 which was drilled approximately 65m east of the J-Zone.
These final five holes takes the J-Zone’s exploration to a total of twenty-six drill holes, of which twenty-one holes intersected mineralization at or near the unconformity – reflecting a success rate of 81%.
Assays are pending on 16 drill holes, and will be reported as the company receives them. Fission said that plans are now underway for a summer drill program, which will continue to delineate the "J-Zone", the newly discovered "Highland Zone" and other land based targets.
The Waterbury Project is being explored by a joint venture between Fission Energy and the KEPCO consortium. The KEPCO consortium is a group of Korean based companies, including Korea Electric Power, Korea Hydro & Nuclear Power, Korea Nuclear Fuel, Hanwha Corp, and uranium investment company, Gravis Capital.
The Waterbury Lake property is located in the northeast part of the Athabasca Basin, where several open-pit uranium deposits, including Midwest Lake, McClean Lake, and Rabbit Lake, are found. Exploration completed to date by the joint venture demonstrates that the 40,256 hectare property has excellent potential for hosting an undiscovered uranium deposit.
Disclosure: The author holds no positions in the company