Fission 3.0 Starts Follow Up Drilling of Off-Scale Mineralization at PLN and Presents Winter 2022 Drill Results

Kelowna, British Columbia--(Newsfile Corp. - November 28, 2022) - FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) ("Fission 3" or "the Company") is pleased to announce that follow up drilling of the new high grade discovery on the A1 conductor has begun where hole PLN22-035 intersected extremely radioactive and off-scale (>65,000 cps) mineralization.

Fission 3.0 currently has two diamond drills on the property and will be drilling a total of up to 7 holes prior to the Christmas break. A sonic drill is being used to penetrate the overburden allowing for shallow angled holes to be drilled so that the reported intervals from steeply dipping lithologies are closer to true thickness.

The split core samples from discovery hole PLN22-035 are scheduled for shipping from site to SRC Geoanalytical Laboratories in Saskatoon, SK for rush analysis.

Drilling Highlights from Discovery Hole:

PLN22-035 (line 00N)

  • 15.0 m total composite mineralization >300 cps over a 15.5 m interval (between 257.0 m to 272.5 m), including

    • 5.62 m of total composite mineralization >10,000 cps over a 6.3 m interval (between 259.0 m and 265.3 m including

      • 1.5 m of total off scale radioactivity (>65,000 cps) over a 2.0 m interval (between 262.0 m and 264.0 m)

  • the hole was terminated at 350.0 m without any further anomalous radioactivity being intersected.

(See News Release November 21, 2022 for Drill Hole Summary Table)

Raymond Ashley, Vice President Exploration, commented:

"The drill program has been amended to delineate the new off-scale mineralization within the 15.0m wide hydrothermally altered structure. Plans are for up to three step out holes to be drilled in the current program in close proximity to the mineralization in discovery hole PLN22-035 to test for continuity of the mineralization and to begin to determine its orientation and geometry. These are thrilling times for the entire team as we set about to establish the size potential of this exciting new discovery."



Patterson Lake North (PLN)
A1 Conductor
Cross Section PLN22-035
Looking 322º

To view an enhanced version of this map, please visit:
https://images.newsfilecorp.com/files/8110/145873_0682a2cdc4b289ee_002full.jpg



Patterson Lake North
Fall 2022 Exploration
Drill Update Map

To view an enhanced version of this Map, please visit:
https://images.newsfilecorp.com/files/8110/145873_0682a2cdc4b289ee_003full.jpg

Note that there was a scale bar error in the Nov 21, 2022 Press Release where this map first appeared.

Geochemistry Results from Winter 2022 Broach Lake and N Conductor Drilling:

The Company is pleased to report the results of the drilling program carried out earlier this year at the previously untested N Conductor and Broach Lake targets. The Broach Lake conductors and the N Conductors are located ~15 km southeast of the A1 conductor and ~15km north northeast of the A1 conductor, respectively, and are completely different conductor systems to the A1 Conductor where radioactive off-scale mineralization was intersected.

Maps and cross sections can be viewed at https://www.fission3corp.com/projects/athabasca-basin/pls-area-projects/patterson-lake-north-pln/

Key Program Details:

  • Drill hole PLN22-029 which was the first test of the N Conductor Complex in the northeast part of the property intersected highly elevated boron values over a 70 m interval within Athabasca sandstone averaging 1051 ppm boron from 550.0 - 620.0 m, including a 10 m interval averaging 1780 ppm boron, above graphitic faults in the basement. This is considered highly anomalous due to both the significant width of the intersection and the highly elevated concentrations. Boron is an important pathfinder element as it occurs along the structural corridors which host the uranium deposits in the Athabasca Basin. Concentrations of boron in the sandstone of more than approximately 300 ppm are normally considered anomalous.

  • At Broach Lake dravite was visually identified in holes PLN22-028 and 030B along the NE trending conductor (see New Release March 2, 2022) approximately 20 m below the unconformity at 280 m depth. Geochemical analyses from these intervals returned 398 ppm boron and 229 ppm boron over 0.5 m respectively. Dravite is a boron-bearing tourmaline mineral often found in association with uranium mineralization.

  • A total of 3908 m of diamond drilling was completed in 6 holes one hole testing the N Conductor and 5 holes testing the Broach Lake Conductors located 9 km north of the Patterson Lake South structural corridor.

Raymond Ashley, VP Exploration for Fission 3.0 commented:

"The winter program was a successful first test of the Broach Lake and N Conductor Targets. The highly anomalous boron anomalies in the overlying sandstone at the N Conductor complex, above graphitic basement structures with elevated values of pathfinder elements commonly associated with Athabasca uranium mineralization, identify the deep N Conductor Complex as a new structural corridor with strong uranium potential. The confirmation of dravite in graphite and sulphide rich altered structures speaks to the uranium potential along the Broach Lake conductors."

Summary of Drilling:

Table 1 below summarizes the 6 holes completed winter 2022 program

Target

Hole ID

Easting

Northing

Azimuth

Dip

Athabasca Unconformity Depth (m)

Total
Depth
(m)

Broach Lake

PLN22-028

599774

6399587

315

-66

251.6

401.0

N Conductors

PLN22-029

595959

6422603

60

-75

676.0

1157.0

Broach Lake

PLN22-030

599983

6399955

93

-77

 

131.0

Broach Lake

PLN22-030A

599983

6399956

93

-77

250.9

366.0

Broach Lake

PLN22-030B

599983

6399956

93

-77

 

281.0

Broach Lake

PLN22-031

600721

6400609

355

-70

293.6

620.0

Broach Lake

PLN22-032

601024

6400630

2

-68

299.6

575.0

Broach Lake

PLN22-033

599983

6399960

n.a.

-90

242.0

377.0

 

 

 

 

 

 

Program Total

3908

 

Drill collar locations in UTM NAD 83 coordinates

N Conductor Drilling:

The N Conductor Complex is located 22 km north of Broach Lake in the northeast part of the property. Angled drill hole (PLN22-029) was designed to test the west side of the 1 km-wide N Conductor complex which is defined by multiple parallel northeast trending basement EM conductors with an overlying resistivity low. A highly anomalous 70 m wide interval of sandstone was intersected with an average of 1051 ppm boron from 550.0 - 620.0 m, including a 10 m interval averaging 1780 ppm boron, above multiple graphite and sulphide rich fault structures within a 91 m core interval in the basement. Geochemical results outlined anomalous values for pathfinder elements associated with unconformity style uranium mineralization within the graphitic and sulphide rich structures.

PLN22-029: Angled hole intersected the Athabasca Unconformity at 676.0 m. The geochemistry displayed significant enrichment of 1051 ppm boron over a 70 m interval of Athabasca sandstone from 550.0 - 620.0 m. The bottom 28.5 m of sandstone was unconsolidated and altered corresponding with the resistivity anomaly in the lower sandstone (See News Release Jan 10, 2022). The basement rocks were comprised of Quartz-Feldspar-Biotite Gneiss and Granitoids; a strongly graphitic unit with patches of disseminated sulphides intersected from 773.1 - 779.9 m returned analytical values suggesting pathfinder element enrichment of nickel, lead and uranium. Weakly anomalous radioactivity with a peak of 300 cps was measured on drill core at a depth of 783.8 m (see News Release March 2, 2022). Geochemical analysis returned values of <2 ppm uranium and 141 ppm thorium from 783.5 - 784.0 m indicating elevated thorium concentrations. Multiple graphite and sulphide rich structures were intersected from 997.2 - 1000.3 m, 1044.0 - 1045.5 m, 1048.3 - 1049.2 m and 1085.2 - 1088.0 m with moderate to strong silicification and clay alteration displaying cataclastic and mylonitic textures indicating brittle ductile structures. Anomalous pathfinder elements, including uranium, are associated with some of the basement structures. The graphitic and sulphide rich basement structures correspond to electromagnetic responses. The hole was originally planned to 750 m but was extended at depth to test as much geology as possible laterally towards the centre of the N Conductor corridor. The downhole gamma log stopped at 972 m, the depth limit of the logging cable. The hole was terminated at 1157.0 m.

Geochemical analysis returned the following enrichment in pathfinder elements:

  • 1051 ppm boron from 550.0 m-620.0 m with a peak of 1780 ppm boron (570.0 - 580.0 m) in Athabasca sandstone

  • 408 ppm nickel from 773.0 - 779.5 m with a peak of 668 ppm (775.5 - 776.0 m), 25 ppm lead with a peak of 46 ppm lead (774.0 - 774.50 m), 18 ppm uranium with a peak of 26 ppm uranium (775.5 - 776.0 m) in the graphite and sulphide rich unit

  • 459 ppm copper from 997.0 - 1000.5 m with a peak of 1380 ppm copper (998.0 - 998.5 m) in the ductile shear zone

Broach Lake Drilling:

The Broach Lake Conductors are located in the south-east region of the property, situated 9 km to the north and adjacent and parallel to EM conductors of the Patterson Lake Corridor, host to Fission Uranium's Triple R deposit and NexGen's Arrow Deposit. Three holes tested the NE-trending conductor, and two holes tested the more easterly trending conductor located to the north. All holes intersected variable intervals of strong chlorite, clay, and silica alteration as well as bleaching and intense hematite alteration.

PLN22-028: Angled hole to test the NE-trending ground EM conductor near the east end of Broach Lake. The Athabasca unconformity was intersected at 251.6 m. Visible dravite was observed in fractures and faults at 263 m, 272 m and 278 m with more possible minor dravite in other fractures in this section. Geochemical analyses in these samples were elevated ranging up to 398 ppm boron. No anomalous radioactivity was intersected in the drill hole which was terminated at 401.0 m depth.

Geochemical analysis identified anomalous boron (352 ppm) from 247.5 - 251.0 m with a peak of 798 ppm (248.5 - 249.0 m) in the Athabasca sandstone

PLN22-030: Angled hole targeting the NE-trending ground EM conductor was a 400 m step out from hole PLN22-028 to test the N-S trending resistivity low in the basement. The hole was lost at 131.0 m.

PLN22-030A: Restart of hole PLN22-030. The Athabasca unconformity was intersected at 250.9 m. A 40.8 m core interval with strong hematite and silica alteration and bleaching was intersected from 271.6 - 312.4 m. Geochemical analyses showed several samples with elevated boron in this alteration zone ranging up to 257 ppm boron over 0.5m. At the bottom of the zone a quartz-rich brittle fault was intersected from 306.2 - 307.8 m, immediately followed by a ductile shear zone with graphite, sulphides, clay, and strong hematite alteration to 312.4 m depth. These structures correspond to the ground EM conductor. No radioactivity was observed in core or in the down hole gamma probe which stopped at 240 m due to a hole blockage. The hole caved at 366.0 m and was continued as PLN22-030B.

Geochemical analysis identified:

  • anomalous boron (401 ppm) from 200.0 -210.0 m in the Athabasca sandstone

PLN22-030B: Restart of hole PLN22-030A. Strong hematite alteration with bleaching was intersected over a 31.7 m interval from 274.1 - 305.8 m, which corresponds to the intersection from 271.6 - 312.4 m in hole PLN22-30A. Geochemical analyses identified elevated boron throughout this alteration zone ranging up to 314 ppm over 0.5 m, including 276 ppm boron from 274.0 - 276.0 m. The visually identified dravite at 280 m returned geochemical analyses of 229 ppm boron from 280.25 - 280.75 m. The hole was terminated at a depth of 545.0 m.

PLN22-031: Angled hole to test the east trending ground conductor northeast of Broach Lake. The Athabasca unconformity was reached at 293.6 m. Anomalous radioactivity of 220 cps was measured with the handheld spectrometer, with a peak of 1077 cps on the down hole gamma probe, in Quartz-Feldspar-Biotite-Gneiss. Geochemical analyses from this interval returned 38 ppm uranium from 345.5 - 345.75 m. Anomalous radioactivity with a maximum of 510 cps measured with the handheld spectrometer, and a peak of 2,383 cps with the down hole gamma probe, was observed in drill core in a brittle fault with brecciated textures from 373.6 - 373.9 m (see News Release March 2, 2022). Geochemical analysis returned 460 ppm thorium and <2 ppm uranium from 373.5 - 374.0 m indicating elevated thorium. The conductor was explained by a significant 30 m wide graphite, clay and quartz rich ductile structure intersected from 508.1 - 538.8 m, followed by a 4 m wide graphitic and clay altered brittle fault from 556.8 - 560.8 m. The hole was terminated at 620.0 m depth.

Geochemical results indicated:

  • 38 ppm uranium over 0.5 m from 345.25 - 345.75 m in Quartz-Feldspar-Biotite-Garnet Gneiss.

  • weakly elevated copper (211 ppm) from 514.5 - 515.5 m is associated with the graphitic and altered structure.

PLN22-032: Angled hole to test east trending ground EM conductor northeast of Broach Lake was a 300 m step out to the east from hole PLN22-031 where it intersects a coinciding NE trending resistivity low feature. The Athabasca unconformity was reached at 299.6 m. A 3.7 m interval of clay altered mylonite from 431.7 m-435.4 m with minor graphite is interpreted to be the continuation of the EM conductor. Anomalous radioactivity with a peak of 330 cps with the handheld spectrometer was observed in core from 558.5 - 559.0 m in chlorite altered gneiss. Geochemical analysis returned values of <2 ppm uranium and 141 ppm thorium from this interval indicating elevated thorium concentrations. The hole was terminated at a depth of 575.0 m.

PLN22-033: Vertical hole on same drill pad as PLN22-030, PLN22-030A and PLN22-030B was designed test the alteration observed in hole PLN22-030A and PLN22-30B up dip, closer to the unconformity. The Athabasca unconformity was intersected at a depth of 242.0 m. A clay and hematite altered ductile shear zone was intersected from 246.0 - 254.4 m. As expected, strong hematite alteration was intersected from 258.8 - 263.1 m similar to that seen in PLN22-030A and 30B with the accompanying dravite. A clay altered and pyrite bearing shear zone was intersected from 308.00 - 319.6 m. No anomalous radioactivity was observed in the drill hole which was terminated at 377.0 m.

Geochemical results returned:

  • anomalous boron (393 ppm) from 200.0 - 210.0 m in the Athabasca sandstone

  • elevated copper associated with the lower ductile shear zone ranging from 79 ppm to 798 ppm in the interval from 305.5 - 318.5 m.

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,000 cps as off-scale. 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 depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5 m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their "Uranium Package".

About Patterson Lake North:

The Company's large 39,946 hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property.

Qualified Person

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 approved on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.

About Fission 3.0 Corp.

Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world's largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3's projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits.

Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

Fission 3.0 Corp. Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com

ON BEHALF OF THE BOARD

"Dev Randhawa"
Dev Randhawa, CEO

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 future operating or financial performance of Fission 3.0 Corp. 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 Fission 3 Corp. 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 sec

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145873