logo-loader

Fission Energy says latest drill results extend J-zone at Waterbury Lake uranium project

Last updated: 15:25 05 Mar 2010 GMT, First published: 16:25 05 Mar 2010 GMT

no_picture_pai

Fission Energy (TSX-V: FIS) and its joint venture partner KEPCO Consortium said that their belief that the J-zone at the Waterbury Lake project in Saskatchewan represents a significant new discovery was reinforced after recent drilling returned high grade uranium results, extending the zone to the west and north.

Drill hole WAT10-070B intersected a 17 metre interval grading 3.99% U308 (uranium), including 7.0m at 7.48% U308 with the maximum identified grade of 20.6% U3O8 over 0.5 metres. In addition, hole WAT10-068, which has extended mineralization approximately 35 metres to the north of hole WAT10-066, intersected 2.50 metres of 2.78% U308, including 1.50 metres grading 4.56% U308.

Fission said there was significant potential for multiple occurrences of high-grade uranium mineralization to the west of the J-Zone within the 3 km long East-West Corridor identified by earlier exploration. Further results are expected as Fission undertakes further drilling through to spring break-up.

At the end of the February, Fission reported that the latest three drill holes at the J-Zone have all intersected highly radioactive mineralization at the unconformity.

The Waterbury Lake 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.

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

2 hours, 9 minutes ago