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Additional information
Additional Information
Market: TSX-V
Sector: General Mining - Uranium & Lithium
Epic: .FIS
News: Latest news
Web Site: Fission Energy Corp
Other Articles: 09-03-201005-03-201024-02-2010

Fission Energy Corp

Fission Energy Corp. is a Canadian based uranium exploration and development company with properties in Saskatchewan's Athabasca Basin, Quebec, and the Macusani District in Peru. In 2003-04 Fission assembled one of the largest exploration property portfolios in Saskatchewan's Athabasca Basin; home of the richest uranium deposits in the world. Fission's most valuable exploration asset is Waterbury Lake KEPCO Consortium Joint Venture, which is located in close proximity to Hathor's Midwest NE discovery ("Roughrider Zone") and the AREVA/Denison Midwest deposits.

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Tuesday, February 09, 2010

Fission Energy believes J-Zone could represent new significant unconformity style uranium occurrence

 

Fission Energy ("TSX-V: FIS) released additional highly encouraging exploration results from the Waterbury Lake Project winter drill program.

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 joint venture has set a budget of $2.68 million for the winter exploration program, which will include 7,500 meters of drilling (20 holes) and both Induced Polarisation (IP) and Electro-Magnetic (EM) surveys over 93 line kilometres.

Just two weeks ago, share in Fission Energy soared more than 100% in a day after the company reported anomalous radioactivity in drill hole WAT10-063A. Since then, share in the junior uranium explorer have continued higher, reaching a peak of 67 cents from a low of just 15 cents less than 2 months ago.

Yesterday, the company reported that three additional drill holes since completed in close proximity to WAT10-063A have also intersected "significant anomalous radioactivity", including a 4 meter interval, from 203.5 meters in drill hole WAT10-066 which was drilled 15 meters south of WAT10-063A. The 4 meter interval had a high radioactivity count, ranging from 500 cps to over 9999 cps.

Fisson Energy has now renamed the new zone the ‘J-Zone’. The J-Zone still remains open along strike and at depth, and despite the positive news, the company’s shares pulled back yesterday on profit taking.

"The J-Zone… may represent a new and significant unconformity style uranium occurrence located within the prospective East-West structural Corridor," Fission stated. "The East-West Corridor continues west from the J-Zone for approximately 3 km within Fission's Waterbury Lake Property. Evaluation of the East-West Corridor is ongoing, where a number of new high priority targets have been identified. Fission's technical team believes there is significant potential for multiple occurrences of high-grade uranium mineralization within this 3 km long corridor."

 

 

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