There’s a lot of excitement at Fission right now as we prepare to drill the first holes of a $12M, 63 hole summer program at PLS. If you haven’t seen it yet, it’s worth checking out the press release. We’ve divided our focus into 70% expansion and 30% exploration. Here’s why:
We’re aiming to have a NI43-101 compliant resource estimate towards the end of this year. We currently have 158 holes that have intersected mineralization and there are plenty of analyst models and reports out there seeking to gage how much uranium we’ve found so far. However, for the official numbers we need to put more holes in the ground and commission a third party technical report and estimate.
We’ll be using Roscoe Postle Associates Inc. (RPA), of Toronto, Ontario, to complete the Mineral Resource estimate and supporting NI 43-101 Technical Report for PLS. This is the same company that handled the NI 43-101 technical report and Mineral Resource estimate for Phoenix A and B deposits for Denison Mines.
With a view to specific timelines, our belief is that once the summer program’s expansion drilling and assays are finished, we should be in a position to complete the initial mineral resource estimate for the R00E and R780E Zones. Both of these zones have seen superb growth. In the case of R780E, the zone has grown so much and so quickly that it has merged with three other mineralized zones to create a single, very large zone of high-grade mineralization.
However, as I’m sure you’ll agree, PLS is a project with simply remarkable potential that goes beyond the mineralization we’ve identified thus far. We are talking about a property with over 100 conductors and, with the results of geophysics and radon surveys earlier this year, we have a strong list of highly prospective regional targets that we will be testing.
I’ve pasted below the key technical information announced in the release along with a summary of the mineralized trend so far. I also recommend you check out the project pages and maps to get a good feel for the discovery as it stands before this new, aggressive drill program.
20,330m of drilling utilizing up to 4 diamond drill core rigs.
70% of the drilling will be expansion/delineation-style: 43 multiple close-spaced drill holes testing outwards from the known locations of mineralization to establish the width and strike of the main R780E zone. This drilling will be conducted using barges.
30% of the drilling will be exploration-style, testing high priority electromagnetic (EM) conductors. These conductor targets will be prioritized based on ground geophysics interpretation and results of the radon survey (see news release April 28, 2014).
PLS Mineralized Trend Summary
Uranium mineralization at PLS has been traced by core drilling over 2.24km of east-west strike length in five separate mineralized “zones” from line 615W (PLS13-124) to line 1620E (PLS14-196). From west to east, these zones are; R600W, R00E, R780E, R1155E and R1620E. The former R390E, R585 and R945E zones have been merged into the R780E zone by successful winter drilling. Mineralization remains open along strike both to the western and eastern extents. Mineralization is both located within and associated with a metasedimentary lithologic corridor, bounded to the south by the PL-3B basement Electro-Magnetic (EM) Conductor.
Please get in touch with any questions and be sure to connect with us on Twitter and LinkedIn.
Ross McElroy, President, COO and Chief Geologist