Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE) recently announced that the company has begun preparing for a $6.4 million work program at its PLS project in Canada's Athabasca Basin this summer. According to the company, he project is designed to complete all remaining resource and geotechnical drilling leading up to a prefeasibility study (PFS).
"Our goal is to deliver a PFS report by Q4 2018 on the PLS project. We remain on target and budget to do so. The focus of the summer field program is to complete all resource and geotechnical drilling to provide data to be able to meet this objective. The completion of a PFS on the Triple R deposit will be a major milestone towards the potential of eventual mining at PLS. The Triple R deposit is the largest, most significant near surface high-grade uranium deposit in the Athabasca basin district," explained Ross McElroy, president, COO, and chief geologist for Fission.
Compilation of all technical inputs to complete and deliver a PFS will be the focus of the post-field program. Delivery of a prefeasibility will be a key event for potential mining at the PLS site.
Roscoe Postle Associated Inc. has been retained by Fission to serve as the lead consultant for the completion of a PFS and to author an NI 43-101 Technical Report. The mine development plan will also be implemented by Roscoe Postle. Overall project management services will also be provided to manage inputs from all technical contributors for the prefeasibility study.
For the study, 14 holes (3,425m) will continue to advance the resource development of the Triple R deposit to PFS level.
According to Fission, some other focus areas of the field work will be:
- Upgrade resource classification for important high-grade, high-impact areas of the R780E zone from inferred to indicated category (9 holes in 2,925m). Drilling of these holes is expected to convert all of the high-grade domain of the R780E zone, which is anticipated to have a positive impact on the PFS.
- Geotechnical drilling of overburden for a Proposed Tailings Management Area (5 holes in 500m)
- Continue monitoring hydrogeological holes required for long-term ground-water analysis.
Headquartered in Kelowna, British Columbia, Fission Uranium Corp. specializes in the strategic exploration and development of the Patterson Lake South uranium property, which hosts the "class-leading Triple R uranium deposit."
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1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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