Business
Canex Encounters 2,333 cps Anomalous Radioactivity by Down-hole Gamma Probe in 3rd Drill Hole at Clearwater West
First Three Holes of Summer Drill Program Return Encouraging Results VANCOUVER, BC / ...
About this update from F3 Uranium Corp
[{"type":"text","content":"Canex Encounters 2,333 cps Anomalous Radioactivity by Down-hole Gamma Probe in 3rd Drill Hole at Clearwater WestFirst Three Holes of Summer Drill Program Return Encouraging Results\n \nVANCOUVER, BC / ACCESSWIRE / August 4, 2015 / Canex Energy Corp. (\"Canex\" or \"the Company,\" TSX VENTURE: CSC), and its Joint Venture (JV) partner, Fission 3.0 Corp. (TSX VENTURE: FUU) (\"Fission 3\"), are pleased to announce results from the first three summer drill holes at their Clearwater West property, including anomalous weak radioactivity with a maximum peak of 2,333 counts per second (cps) by down-hole gamma probe over 0.1m (corresponding to a maximum peak of 410 cps by hand-held scintillometer over 0.5m).\nFission 3 (the operator) reports the first 3 holes encountered graphitic metapelitic basement lithology, structural disruptions and indications of localized hydrothermal alteration system, all of which are features characteristic of fertile systems that have the potential to host high-grade uranium mineralization. Fission 3 notes that hole CWW15-0003 intersected 4 discrete narrow intervals of anomalous weak radioactivity between the depths of 109.5m and 195.0m (2.5m total composite), with a maximum peak of 410 cps by hand-held scintillometer from 194.5 to 195.0 (0.5m), including a maximum peak of 2,333 cps over 0.1m by down-hole gamma probe.\nClearwater West is located adjacent south of Fission Uranium Corp's (TSX: FCU) (\"Fission\") PLS property, in the south-west region of Saskatchewan's Athabasca Basin, home of the highest grade uranium deposits in the world.\n\"This is a fantastic start to our drill program at CWW,\" stated Peter Wilson, Canex CEO. \"There is a very great potential for another world-class discovery on the Western side of the Basin and having the benefit of the most successful Uranium exploration and discovery team in the business operating at CWW gives us a significant advantage over our peers.\"\nDrill Result Highlights\n- Anomalous radioactivity intersected by hole CWW15-003\n- Near-surface alteration confirmed in hole CWW15-002\n- Significant ~9m wide fault zone intersected in CWW15-001\n- Drill results confirm geological features which makes the area highly prospective for hosting high-grade mineralization\nTechnical Details\nRegional Exploration Drill Program Summary\n\nThe first 3 holes of a 7-hole first pa...