Source: Fission 3.0.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Fission 3.0 Corp. (FUU) encountered graphitic and sulphide-rich basement structures from the first pass drill program on its Murphy Lake Property
  • Three out of five holes from the program intersected these structures and confirmed the property’s prospectivity
  • The structures will continue to be defined and the drill program will expand
  • Fission 3.0 is also encouraged by the findings because high-grade uranium mineralization is often associated with them
  • Fission 3.0 Corp. (FUU) is up 5.26 per cent trading at $0.10 per share as of 12:19 p.m. ET

Fission 3.0 Corp (FUU) has encountered graphitic- and sulphide-rich basement structures from the drill program on its Murphy Lake Property in Saskatchewan.

Three out of five holes from the program intersected these structures, and the most encouraging features confirmed the property’s prospectivity for the conductors. The company will continue to define the structures and expand the Murphy Lake drill program.

“[The project] is well established that high-grade uranium mineralization in the Athabasca Basin is often associated… within areas that have undergone hydrothermal alteration,” Ross McElroy, Director of Fission 3.0, said.

Source: Fission 3.0 Corp.

Fission 3.0 stated it had inferred the area to continue north where no drilling has been done before. Also, the area is within a historic finding which discovered anomalous uranium and pathfinder element geochemistry.

The company followed up with the area, which includes five recently completed holes in the southeastern part of the property, with a total of 2,505 metres drilled to date. Fission 3.0 plans to drill another four holes for approximately 1,600 metres.

Allegedly, drilling so far has shown that the two parallel ground conductors defined this past spring are likely caused by zones intersected in rocks containing graphite and sulphide minerals.

Fission 3.0 shared it is also encouraged by these mineral findings because high-grade uranium mineralization in the Athabasca Basin is often associated with them.

Fission 3.0 Corp. (FUU) is up 5.26 per cent trading at $0.10 per share as of 12:19 p.m. ET.


More From The Market Herald

" Prime Meridian (TSXV:PMR) announces $1M financing

Prime Meridian Resources Corp. (PMR) has signed a non-brokered private placement financing agreement for proceeds of up to $1 million.

" Fortune Bay (TSXV:FOR) files Goldfields PEA

Fortune Bay (FOR) has filed an independent preliminary economic assessment (PEA) for its Goldfields Project in Saskatchewan.

" Emperor Metals (CSE:AUOZ) announces $5M private placement

Emperor Metals (AUOZ) has announced a non-brokered private placement for gross proceeds of up to $5,001,550.
Emerita Resources Corp. - CEO, David Gower

" Emerita (TSXV:EMO) announces Aznalcóllar trial date

Emerita Resources (EMO) announced the Third Section of the Provincial Court of Seville has set the date court date regarding the Aznalcóllar package.