Fission Uranium Corp. Provides an Update on the Feasibility Study Work At PLS Property in Canada's Athabasca Basin Region
FISSION URANIUM CORP. provided an update on the Feasibility Study work at its 100% owned PLS property in Canada's Athabasca Basin region. The Company has achieved multiple feasibility study milestones, including completion of field work for geotechnical, hydrogeological, and metallurgical purposes. Additionally, and of particular note, detailed engineering studies and planning of the proposed mine design are now in progress and are now well advanced. Feasibility Study Progress: All geotechnical test work on soil and rock samples have been completed, and geotechnical assessment work on the R840W and R780E zones is in progress. Geochemical test work is in progress. Hydrogeological test work is complete and hydrogeological modelling and assessment for the decline and mine production areas is in progress. Metallurgical test work is in progress. Initial leach tests are completed, bulk leach tests and variability leach tests are in progress, comminution tests are in progress and preparation work for the solvent extraction mini pilot test is in progress. Trade-off Study on mine access and mining methods is complete. Detailed design for the decline and vent shafts is underway, and underground Mineable Stope Optimiser (MSO) work has been completed for the R780E zone and is in progress for the R840W zone. Mine design for the R780E zone well underway. Uranium process design criteria is complete, and process flow design is in progress. Detailed design of the Tailings Management Facility is in progress – field assessment work for geotechnical and hydrogeological aspects is complete, aggregate sourcing study is complete, and constructability, pit design and liner design are in progress. 6 geotechnical drillholes and pumping well pulsed test complete. PLS Mineralized Trend & Triple R Deposit Summary: Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over 3.18 km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 5, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone. The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55 m to 100 m. R1515W is the western-most of the zones and is drill defined to 90 m in strike-length, 68 m across strike and 220 m vertical and where mineralization remains open in several directions. R840W is located 515 m to the east along strike of R1515W and has a drill defined strike length of 430 m. R00E is located 485 m to the east along strike of R840W and is drill defined to 115 m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50 m. R780E is located 225 m to the east of R00E and has a drill defined strike length of 945 m. R1620E is located 210 m along strike to the east of R780E, and is drill defined to 185 m in strike length. The Company completed and filed a prefeasibility "PFS" study on November 7, 2019 titled "Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada". The report summarizes the Pre-Feasibility Study (UG PFS), which outlines an underground-only mining scenario for PLS which to date has only considered the R00E and R780E zones. Further work, including additional drilling may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the Feasibility Study mine plan. Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.