Fission Energy Corp (TSX: FIS) and its joint venture partner, the KEPCO consortium, announced plans to complete seven drill holes at the Waterbury Lake uranium project, located in the northeast part of the Athabasca Basin, Saskatchewan.
The drill program will test for the possible high grade extension of Hathor's adjacent Roughrider zone onto the Waterbury Lake property. Three of the holes will target locations in close proximity to the Roughrider discovery step-out holes MWNE-09-116 and MWNE-09-129.
Two drill holes will test a resistivity low anomaly, located approximately 8 kilometres to the southwest of the Denison-AREVA Midwest deposit. The final two holes will test a resistivity low anomaly located approximately 3 kilometres north of Discovery Bay. Work is expected to begin in August.
All results from the winter 2009 drill program, completed during the third week of March, have been received. Analysis of all available data confirms the presence of multiple exploration targets, in particular, along the east-west Discovery Bay Corridor - Discovery Bay, Disco Bay and Talisker - in addition to the newly discovered northeast trend, known as Shuttle Lake. All of these targets remain highly prospective, and warrant follow-up exploration drilling.
The partners have budgeted C$4.0 million for exploration in 2009.The KEPCO consortium, also known as Korea Waterbury Uranium Ltd Partnership, primarily comprises Korean-based companies. Led by Korea Electric Power Corp, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co, Hanwha Corp and Gravis Capital Corp, a private Canadian uranium investment company.