Fantastic assay results at PLS

And the assay results are… 34m of 4.92% U3O8, Including 12.5m at 12.38%. When it comes to uranium these are huge results and they really do underline why all eyes are on Fission and PLS! You can read the press release here.

If you’ve been following the PLS story you’ll know that the first hole drilled on the R390E zone (hole PLS13-038) had the sort of scintillometer results that made industry observers sit up and stare and below you’ll find the assay results for that hole.

Our team was confident that we would have grades this high but it’s always satisfying to see the results come in. Here’s what Ross McElroy, our President and Head Geologist and the driving technical expertise behind PLS since  we first started working on it in 2008, had to say: “High grades, wide intercepts, shallow depth – the three critical elements of successful mineral exploration. The Winter program, which is still ongoing, continues to enjoy phenomenal success and we will continue to share results as soon as they come in."

Here are the drill result highlights and please don’t hesitate to get in touch with any questions.

Composited drill hole mineralized intersections for PLS13-038 returned two broad zones of uranium mineralization:

UPPER URANIUM ZONE = 34m (87.0m – 121.0m):
• 34.0m @ 4.92% U3O8;
• Includes 12.5m @ 12.38% U3O8
LOWER URANIUM ZONE = 17.5m (126.5m – 144.0m)
• 17.5m @ 0.96% U3O8;
• Includes 5.5m @ 2.07% U3O

Dev Randhawa

Ten holes – ten hits. PLS Discovery Zone extended to 80m

In case you missed our latest press release, ten additional step-out drill holes in the R00E zone at PLS have intersected anomalous radioactivity, with 8 holes intersecting significant mineralization including 6 holes intersecting variable amounts of off-scale radioactivity.

 The R00E zone has now been traced for >80m of strike length at shallow depth from PLS13-049 (L060W) to the west to PLS13-052 (L015E) to the east, and up to 50m wide (L025W). The zone remains open along strike and width and drill continues.

I recommend you read the release for the full technical details but for now, here are the highlights:

*PLS13-052 (L015E) intersected 31.5m of weak to strong mineralization with 5.95m of off-scale (>9999 cps) radioactivity: mineralization starting at 62m
*PLS13-043 (L040W) intersected 26.5m of weak to strong mineralization with 4.63m of off-scale (>9999 cps) radioactivity: mineralization starting at 63m
*PLS13-041 (L040W) intersected 19.0m of weak to strong mineralization with 4.15m of off-scale (>9999 cps) radioactivity: mineralization starting at 63m

Dev Randhawa

780 Meter Step Out uncovers 3rd high grade discovery zone at PLS

A step out hole drilled 780m East of the original discovery at PLS has hit off-scale radioactivity to give us yet another Discovery Zone. You can check out the press release for the full details. This is the 3rd high grade zone we’ve discovered at PLS and we’re still only partway through the drill program.

You know, as the CEO of an exploration company, you sometimes have to take a step back and shake your head in wonder and here’s why:

As you know, Denison is acquiring a large portion of Fission’s properties and as part of the deal we’ll be spinning out a NewCo called Fission Uranium Corp. Existing Fission shareholders will get 0.355 shares of Denison and 1 share of Fission Uranium Corp. per share of Fission owned.

When we originally came to agreement with Denison we knew this would deliver great value to Fission shareholders. Denison is going to be in a phenomenal position and Fission Uranium Corp would be starting out with $15m in the bank, the same management and head geo that build Fission and a selection of highly prospective properties including the PLS discovery which, at the time the deal was made, was at an extremely early stage.

What’s changed is that with Fission Uranium Corp. existing Fission shareholders are not just going to be a part of some highly prospective assets, they are going to have a rapidly expanding high grade discovery in their pocket and the cash to develop it….

Don’t hesitate to get in touch with any questions and be sure to connect with us on Twitter and LinkedIn.

Dev Randhawa

The hits keep coming! Another 18.9m Total "Off-Scale" Radioactivity Within 67.0m of Mineralization at PLS

Based on the amount of news we’re putting out these days I imagine you’re probably keeping a pretty close eye on our press releases and Twitter feed, however, in case you missed the latest news release Fission has drilled yet another fantastic hole at PLS, specifically from delineation drilling in the recently discovered R390E zone. 

At 18.9m of off-scale (>9999 cps) mineralization, PLS13-053 represents the largest accumulation of discrete off-scale mineralized intervals in any drill hole on PLS property to date. From a technical perspective, I think our COO and Chief Geologist Ross McElroy says it best: “We are still in the early stages but we now have drill results from three very substantial holes. We are on to a significant zone of mineralization and we continue to work at defining and expanding upon what we have found."

Exciting times, no doubt about it. The team is working flat out to move this discovery forward and it’s great to see their efforts rewarded with this level of results.  Of course, when Fission Energy completes its deal with Denison shortly, PLS will be operated by Fission Uranium Corp rather than Fission Energy, however, since the same management team and head geo will be running the Fission Uranium Corp (it’s being spun out of the Fission/Denison deal), I’m sure you’ll agree that the emerging discovery will to be in good hands! If you’re not up on the latest info regarding the deal and the spinout – Fission Uranium Corp, please take a look at my blog post of March 7th. 

Please don’t hesitate to get in touch with any questions and be sure to connect with us on Twitter, LinkedIn and sign up for email updates.

Dev Randhawa

Another great PLS strike for Fission: 13.89m of “Off-Scale” Radioactivity in 53.0m of Mineralization

Yet another great hit in a succession of strong (some might say superb…) results as our PLS drill program continues. Please check out the press release for the full details. If you’re in a rush then here are the headlines:

*53.0m interval of continuous mineralization
    *including 11.5m of continuous “off-scale” radioactivity (>9999 cps)
    *the sum of discrete intervals of “off-scale” radioactivity total 13.89m
    *>26% of the interval measure “off-scale”.
    *Located 15m grid east of PLS13-038 (see news release dated Feb. 19, 2013) in which mineralization was found over 57.5m. 11.65m of which was “off-scale”.

In addition delineation drilling in the R390E area, PLS13-044 drilled 10m north of PLS13-038 intersected a total 34.0m of mineralization in four discrete zones of weak to moderate, and locally strong mineralization including a narrow (0.1m) interval of “off-scale” radioactivity totaling 3.0m.

The team and I continue to be thrilled at the way PLS is progressing. Such great results confirm the tremendous starting position that our NewCo (Fission Uranium Corp) will have when it spins out following the completion of the Fission/Denison deal.

Here’s what Ross McElroy, Fission’s President, COO, and Chief Geologist had to say, "PLS13-051 extends the strike length of R390E’s broad zone of mineralization, which includes significant amounts of off-scale radioactivity, initially discovered in PLS13-038 15m to the west. We are focusing our efforts to define this area as we target drilling around these holes that have returned such excellent results.”

I recommend you check out the release itself and please get in contact with us right away with any questions. Be sure to also follow our Twitter feed and connect with us on LinkedIn.

Dev Randhawa

Fission and Denison sign definitive agreement

If you didn’t catch our latest press release, we have now signed a definitive agreement with Denison regarding the sale of a large portion of Fission’s assets to Denison and the subsequent spin out of Fission Uranium Corp – the NewCo that will emerge with PLS as its flagship property. Fission shareholders at the time of the deal’s close will own shares in both companies. This definitive agreement replaces the binding letter of agreement that we announced in January.

I’m thrilled about this deal as I feel strongly that it delivers a number of solid benefits to the shareholders of both companies, specifically:

*Substantial value offered to Fission shareholders for the Assets
*The opportunity for Fission shareholders to simultaneously be a part of the NewCo (Fission Uranium Corp) with its extremely prospective Western Athabasca exploration portfolio (including the growing discovery at PLS) and the impressive assets of Denison, which include several advanced exploration properties plus an interest in the McClean Lake mill
*Fission Uranium Corp will be very well funded
*Fission Uranium Corp will continue forward under the leadership of the same successful management team that developed Fission
*Further solidifies Denison as the consolidator of strategic assets in the Athabasca Basin, to the benefit of both sets of shareholders

The press release includes a number of legal and technical details and I recommend you take the time to read through it. In the meantime, we continue to push forward with our drill programs and as you’ll know from recent press releases, we’ve been enjoying enormous success at PLS which as I’ve mentioned will become the flagship property of Fission Uranium Corp when it spins into existence upon completion of the deal with Denison.

As always, please get in touch with any questions and be sure to connect with us on Twitter and LinkedIn.

Dev Randhawa

China and Nuclear Energy

China Wants Nuclear Reactors, and Lots of Them… that’s the title of a recent article in Business Week and personally I think it’s spot on.

The country currently has 29 reactors under construction, another 51 planned and a whopping 120 reactors proposed. In other words, it’s not only a major user of nuclear energy (sixteen operating reactors), it plans to be the leader in nuclear energy and related technology full stop.

Quite aside from the sheer number of reactors on the way, China is pushing forward with new and innovative designs such as pebble- bed reactors which will bring dramatic increases in the amount of energy a reactor can generate. Operating nuclear reactors already deliver the most cost-efficient high-base load energy available but it’s great to see the industry pushing forward in the quest for even better designs and results.

Take a look at the article. I think you’ll agree with me that China’s nuclear energy plans are good for China, good for the nuclear industry and great for the uranium sector.

Dev Randhawa