Fission’s Ross McElroy, Wins PDAC Award for Canadian Discovery and Prospecting Success
(firmenpresse) - Fission’s Ross McElroy, Wins PDAC Award for Canadian Discovery and Prospecting Success
PDAC 2014 Grants Highest Accolade for Exploration Success at PLS Project
FISSION URANIUM CORP. ("Fission" or “the Company") is pleased to announce
that Ross McElroy, President, COO and Chief Geologist of Fission Uranium, has been
awarded the PDAC 2014 Bill Dennis Award for an important Canadian discovery and
prospecting success. The award is the result of Mr. McElroy’s work in leading the team
that made the Patterson Lake South (PLS) discovery in Canada’s Athabasca Basin – one
of the most significant discoveries in the Basin in recent years. The 31,039 hectare PLS
project is located in the southwest region of the Athabasca Basin and is 100% held by
Fission Uranium Corp.
Mr. McElroy, a professional geologist with over 27 years’ experience, spent his early
years with major mining companies including Cameco, Areva, and BHP Billiton and
moved to the junior exploration space in 2004. He has had an instrumental role in four
major discoveries in the Athabasca Basin, including two for Fission. This includes being
part of the small geological team that made Cameco’s McArthur River discovery (the
world’s largest high-grade uranium deposit). Whilst heading up Fission’s technical team
he has made two major discoveries in the past four years, including Fission Uranium’s
PLS (Patterson Lake South) discovery and Fission Energy’s J-Zone discovery at
Waterbury Lake.
Ross McElroy, President, COO and Chief Geologist of Fission Uranium, commented,
“It takes a team to make a discovery and I’m delighted to have won this award on
behalf of Fission. 2013 was an incredible year for us and I’m thrilled that the industry
has taken note of our accomplishments and chosen to single us out for the success at
Patterson Lake South. I would like to thank my technical team for all their hard work
and dedication and to thank PDAC for recognizing our efforts and success.”
Factors that led to the award
Speed and Scope: In twelve months the discovery grew from a single hole to
six mineralized zones on-trend along a strike length of 1.76km. This was
accomplished with $13m of exploration and 99 holes
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.
Accuracy: >86% of holes successfully intersecting mineralization along 1.76 km
trend
Incredible Grades: Multiple assays with extremely high uranium grades
(magnitudes higher than the world average grade. Examples include:
o (hole PLS13-075) 54.5m (at) 9.08% U3O8 with GT 494.86 including 21.5m
(at)21.76% U3O8 with GT 467.84.
o (hole PLS13-072) 34.5m (at) 8.15% U3O8 with GT 281.2, including 7.50m
(at) 19.28% U3O8, including 21.53% U3O8 over 4m
Innovative Technology: Fission’s team, together with a private Canadian
company, developed a patent-pending near surface uranium detecting airborne
radiometric survey that identified the high-grade boulder field at PLS that in turn
led to the main discovery.
New Approach to Radon Gas Surveys: Ross McElroy and his team
implemented the use of radon surveys in frozen ice conditions – drilling holes in
the lake ice and lowering instruments down to the bottom of the lake. Despite
Radon being such a mobile gas, this specific technique and results analysis has
helped deliver the >86% mineralization success rate with drilling.
Under-explored Region. The discovery was made at a time when popular
consensus pointed to the east side, two hundred km away, as the place to be.
The PLS project lies outside of the Basin margin whereas the consensus dictated
you had to be within the Basin. Consensus also dictated that all Athabasca Basin
related large-scale, near-surface discoveries had been made in a previous era.
Shallow Depth: The contrarian PLS discovery is a large scale, shallow, high
grade mineralized trend with the bulk of mineralization found so far between
55m and 250m depth below surface.
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
Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium 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. Common Shares are listed on the TSX
Venture Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the
U.S. under the symbol “FCUUF.”
ON BEHALF OF THE BOARD Investor Relations
Rich Matthews
"Dev Randhawa" TF: 877-868-8140
rich(at)fissionuranium.com
Dev Randhawa, Chairman and CEO www.fissionuranium.com
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.
Cautionary Statement: Certain information contained in this press release constitutes
“forward-looking information", within the meaning of Canadian legislation. Generally,
these forward-looking statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", “forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be taken", "occur", "be
achieved" or “has the potential to”. Forward looking statements contained in this press
release may include statements regarding the Patterson Lake South project and the
future operating or financial performance of Fission and Fission Uranium which involve
known and unknown risks and uncertainties which may not prove to be accurate. Actual
results and outcomes may differ materially from what is expressed or forecasted in
these forward-looking statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations. Among those factors
which could cause actual results to differ materially are the following: market conditions
and other risk factors listed from time to time in our reports filed with Canadian
securities regulators on SEDAR at www.sedar.com. The forward-looking statements
included in this press release are made as of the date of this press release and the
Company and Fission Uranium disclaim any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities legislation.
Leseranfragen:
Email (for shareholders): ir(at)fissionuranium.com
Email (for general inquiries): info(at)fissionuranium.com
Telephone: +1 250-868-8140
Fax: +1 250-868-8493
Toll Free: 1-877-868-8140
Fission Uranium Corp.
700 – 1620 Dickson Avenue
Kelowna, British Columbia
Canada, V1Y 9V2
Datum: 10.01.2014 - 09:24 Uhr
Sprache: Deutsch
News-ID 325577
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