Fission Hits More "Off-Scale" Radioactivity as J Zone Continues to Grow
(firmenpresse) - KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 08/20/12 -- FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE: FIS)(OTCQX: FSSIF) and its Limited Partner, the Korea Waterbury Uranium Limited Partnership ("the Waterbury Consortium"), announce that nine of the remaining twelve drill holes completed at the Waterbury Lake summer drill program have intersected mineralization in the J Zone, with two holes: step-out hole WAT12-325 and hole WAT12-319, intersecting significant 7.0m and 9.0m mineralized intervals respectively, with moderate to strong radioactivity, including discrete intervals of "off-scale" (greater than 9999 cps) scintillometer readings.
Ross McElroy, Fission's President, COO, and Chief Geologist commented, "This summer's drilling at the J Zone has successfully identified significant mineralization in the central part of Area "B", by expanding the northern boundary with targeted step-out holes and filling in the gaps identified by previous drill campaigns."
J Zone Drilling Highlights
J Zone Area "B" Drill Hole Summary (Line 225W-435W)
J Zone Area "A" Drill Hole Summary (Line 120E - 210W)
Program Summary
Twenty-six drill holes totalling 8,306.1m were completed in the J Zone 2012 summer drill program, with nineteen holes intersecting mineralization with radioactivity ranging from weak to strongly radioactive readings at the unconformity and/or in the basement, including "off-scale" scintillometer readings. Please refer to the press release dated July 18, 2012 for details of the first fourteen holes of this program. Complete details of the final twelve drill holes highlighted in this press release are shown in Table 1 below. Assay results will be announced when available.
Table 1:
J Zone Summer Drill Program Summary (Holes WAT12-319 to WAT12-330)
Drill holes measured with an Exploranium GR-110G total count Super Gamma-Ray Scintillometer.
An Updated drill hole map and can be found on the Company's website at .
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe or 2PGA-1000 natural gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a Qualified Person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS" and on the OTCQX Exchange under the symbol "FSSIF".
Korea Waterbury Uranium Limited Partnership ("Waterbury Consortium") is a consortium primarily comprised of Korean-based companies. The Consortium is led by Korea Electric Power (KEPCO). Other participating companies include: Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.
Fission Energy owns 60% and the Korea Waterbury Uranium Limited Partnership owns 40% of the Waterbury Lake Uranium Limited Partnership.
Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. ()
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Fission Energy Corp.
Bob Hemmerling
Investor Relations
TF: 877-868-8140
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Datum: 20.08.2012 - 11:30 Uhr
Sprache: Deutsch
News-ID 175740
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KELOWNA, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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