One hole tested separate nearby basement EM conductor A4-1 (PLN14-021), also in the Harrison Lake area, with geochemical results from the drill core showing anomalous boron, an important pathfinder element, in the basement and overlying sandstone (534 ppm boron within Athabasca Sandstone from 316.5-317.0m and 698 ppm boron within Athabasca Sandstone immediately above the unconformity (413.35m) from 413.85-414. All five holes on the A1 conductor encountered strong hydrothermal alteration over variable widths and a number of narrow radiometric anomalies, including a downhole radiometric peak of 1,382cps (162.8m to 163.2m in PLN19-026), often a key signature of mineralized uranium systems. Drilling focused on the northwest-southeast trending A1 basement hosted EM conductor in the Harrison Lake area. A total of 2,051m were drilled in six completed holes. In February 2019, the Company completed a winter drill program. These results raised the potential of the A1 conductor to host high-grade uranium mineralization. The most significant result was returned from drill hole PLN14-019 which tested the A1 EM conductor and encountered anomalous radioactivity which was confirmed with geochemical analysis and assayed 0.047% U3O8 over 0.5m. In 2014 a total of 10 holes were completed in 4,118m of drilling. This work yielded numerous prospective uranium drill targets. Drill hole PLN14-019 intercepted a 7.5m interval (191.5m - 199.0m) of anomalous radioactivity with peak measurements up to 1450cps (as measured by handheld spectrometer) over 0.5m within a strongly clay altered and brecciated graphitic gneiss which assayed 0.5m of 0.047% U3O8 within 6.0m of 0.012% U3O8.įrom 2013 - 2019 property scale airborne electromagnetic (EM), magnetic and radiometric surveys combined with ground DC Resistivity, Magnetotellurics (MT) geophysics, borehole and ground Time Domain electromagnetic (TDEM) geophysics were carried out supporting prospecting, rock and soil sampling, and relogging of historical drill core. Previous drilling at PLN by Fission 3 in 2014 identified a mineralized structure associated with the ~3 km long A1 conductor with strongly anomalous geochemistry, including uranium values, in addition to common pathfinder elements including boron, copper, nickel and zinc. The property is strategically located between Fission Uranium's PLS Property immediately to the south and the former Cluff Lake mine (>60M lbs U3O8 produced) and the UEX-Areva Shea Creek deposit to the north (42km and 27km respectively). It is located just inside and in the south-west area of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow large high-grade deposits. The 100% owned PLN property consists of 38 mineral claims and covers 39,946 ha it is one of the most advanced of the Fission 3 projects and is prospective for high-grade uranium. The Company intends to use the proceeds raised from the Offering for future exploration work on its uranium projects, including at PLN, corporate development and general corporate and working capital purposes.įission 3.0 also announces 1.2 million options at $0.19. On September 29,2021 the Fission 3 announced a fully marketed private placement (the "Offering") for gross proceeds of C$8,000,026. PLN ranks highly in Fission 3's extensive portfolio by virtue of previous drilling having intersected basement hosted uranium mineralization and pathfinder elements showing large scale potential along a conductor that is open and untested to the NW, as well as having multiple untested and prospective drill-ready targets and being proximal to large-scale high grade uranium deposits. October 18, 2021) - FISSION 3.0 CORP (TSXV: FUU)(" Fission 3" or "the company") is pleased to announce that drill programs are being planned for the upcoming 2022 winter and summer drilling seasons for its PLN Project in Canada's southwest Athabasca Basin region in search of high-grade uranium mineralization. Kelowna, British Columbia-(Newsfile Corp. Get inside Wall Street with StreetInsider Premium.
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