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Fission Resource Expansion Drilling on R840W Zone Hits High-Grade Mineralization in 19 Holes
Drilling Highlights
- 100% Hit Rate; Majority of Holes Hit High-Grades. All 25 holes hit significant mineralization, including 19 with high-grade intercepts.
- R840W Zone Resource Drilling. The holes successfully targeted specific, mainly "inferred" categorized areas of the R840W zone over ~353m of strike length between holes PLS21-624 and PLS21-631, using step out and infill drilling to achieve spacing of ~15m x 20m (horizontal / vertical), with the aim of conversion from Inferred to Indicated. The R840W zone is the 2nd largest of five high-grade zones that make up the Triple R deposit. Although the R840W has been used in the global resource estimate for the Triple R, due to it currently being mainly Inferred classification, it was not considered in the economic analysis of the Prefeasibility Study. If assay results and subsequent modeling provide confirmation that the desired hole spacing has been achieved and at acceptable grade, then the R840W zone can be upgraded to Indicated and then considered for inclusion into the Feasibility study.
Highlight intersections from the drill program include:
- Hole PLS21-624 (line 630W)
- 57.5m continuous mineralization over a 57.5m interval (between 109.0m to 166.5m), includin
- 19.15m of total composite mineralization >10,000 cps
- 19.15m of total composite mineralization >10,000 cps
- 57.5m continuous mineralization over a 57.5m interval (between 109.0m to 166.5m), includin
- Hole PLS21-635 (line 750W)
- 56.0m total composite mineralization over a 78.0m interval (between 101.5m to 179.5m), includin
- 7.8m of total composite mineralization >10,000 cps
- 7.8m of total composite mineralization >10,000 cps
- 56.0m total composite mineralization over a 78.0m interval (between 101.5m to 179.5m), includin
- Hole PLS21-633 (line 930W)
- 27.0m total composite mineralization over a 47.0m interval (between 154.5m to 201.5m), including
- 6.75m of total composite mineralization >10,000 cps
- 27.0m total composite mineralization over a 47.0m interval (between 154.5m to 201.5m), including
The R840W zone is located approximately 485m to the west along strike of the Triple R deposit's R00E zone.
As detailed in the report dated January 07, 2019 and with an effective date of September 19, 2019 and titled Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada, the R840W is currently defined using CIM definitions (2014) for mineral resources at a cut-off of 0.25% U3O8 of:
- Indicated Mineral Resource: 88,000 tonnes at 1.68% U3O8 yielding 3,300,000 lbs U3O8
- Inferred Mineral Resource: 280,000 tonnes at 1.86% U3O8 yielding 11,500,000 lbs U3O8
At this time, mineral reserves have not been estimated for the R840W zone.
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https://www.newswire.ca/news-r…n-19-holes-856302198.html
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