Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE) announced that it had encountered "wide mineralization, with high-grades, at the land-based R1515W zone at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region," according to a July 24 press release.
"This is a very positive start to our zone growth drilling this Summer," company president, COO and chief geologist Ross McElroy stated in the release. "The delineation of this high-grade zone is still at an early stage but initial drill results interpret mineralization to be comprised of multiple, stacked steeply dipping lenses occurring over a wide lateral area."
"The summer drilling program is off to a good start as the announced scintillometer results have expanded the R1515W zone to approximately 45m," Rob Chang of Cantor Fitzgerald wrote in a July 25 research report. "Management notes that the R1515W zone shows similar characteristics to those found at the flagship R780E zone."
Heiko Ihle of Rodman & Renshaw concurred, noting in a July 26 research report that "the findings were encouraging, given that the R780E zone is the most notable high-grade zone of Fission's Triple R deposit."
Also commenting on the news in a July 24 research report, analyst David Talbot of Eight Capital wrote, "Fission is slowly transitioning from exploration to value story. We believe PLS could be the next project to be developed in the Athabasca Basin. As a high grade, near surface deposit potentially mineable by open pit, it might be the cheapest to develop."
Chang observed that "the two announced drill holes both encountered large intervals of composite mineralization with certain sections of 'off-scale' radioactivity" and also commented on the zone expansion, noting that "Line 1515W now has mineralization traced over a lateral across-strike width of approximately 45m. A key element of the summer drill program has been for drilling on the western edge of the property, pushing towards the uranium boulder field."
Observing that Fission's $6.6 million summer drill program will provide news flow, Talbot stated, "Summer drilling will focus on hotspots, expanding Triple R, and testing gaps between zones. Specifically plans are to expand high grade uranium around the new R1515W discovery."
In further commentary, Ihle noted that the company expects to release a "resource update" in Q4/17, that "Fission anticipates finishing the baseline studies" in Q4/18, and that the company expects to submit a "Feasibility Study and Economic Assessment" in Q4/19."Fission continues to discover new zones, increasing the potential resource at the project," Ihle stated. "We continue to view Fission as a potential takeover target in a stronger uranium market."
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1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
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Cantor and Fitzgerald, Fission Uranium Corp., July 24, 2017
Disclosures as of April 27, 2017. Facts may have changed.
Potential conflicts of interest: The author of this report is compensated based in part on the overall revenues of CFCC, a portion of which are generated by investment banking activities. CFCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. CFCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. Although CFCC makes every effort possible to avoid conflicts of interest, readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.
The analysts responsible for this research report have, either directly or indirectly, a long or short position in the shares or options of Fission Uranium.
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Disclosures from Rodman & Renshaw, Fission Uranium Corp., Company Update, July 26, 2017
I, Heiko F. Ihle, CFA , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.
None of the research analysts or the research analyst’s household has a financial interest in the securities of Fission Uranium Corp. (including, without limitation, any option, right, warrant, future, long or short position).
As of June 30, 2017 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Fission Uranium Corp.
Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.
The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.
The Firm or its affiliates did not receive compensation from Fission Uranium Corp. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.
The Firm does not make a market in Fission Uranium Corp. as of the date of this research report.
Eight Capital, Fission Uranium Corp., Comment, July 24, 2017
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