Business
Fission 3.0 Corp. Stakes New Claims in the Key Lake and NE Athabasca Areas
Kelowna, British Columbia--(Newsfile Corp. - November 15, 2021) - Fission 3.0 Corp. (TSXV...
About this update from F3 Uranium Corp
[{"type":"text","content":"Fission 3.0 Corp. Stakes New Claims in the Key Lake and NE Athabasca AreasKelowna, British Columbia--(Newsfile Corp. - November 15, 2021) - Fission 3.0 Corp. (TSXV: FUU) (OTCQB: FISOF) (\"Fission 3\" or \"the Company\") is pleased to announce the addition of two new properties by staking in the Athabasca Basin region of Saskatchewan. Fission 3.0's continued objective is to stake areas with potential for hosting high-grade uranium deposits.The Company now has 16 properties, comprising a total of 212,446 hectares in the Athabasca Region of Canada.The newly acquired properties, Grey Island and Flowerdew, are both located in geologically prospective areas near the Athabasca Basin margins with the potential to host shallow high-grade uranium mineralization. New Property UpdateGrey Island:The property consists of 10 claims totaling 12,023 hectares in the southeast area of the Athabasca Basin. It is located 70km northwest of the Key Lake mill and approximately 15km inside the southern margin of the Athabasca Basin, where the depth to the unconformity averages ~270m. The property is located halfway between the Key Lake Mine and Cameco's Centennial uranium deposit.From a geophysical perspective the property is attractive due to several interpreted basement EM conductors within magnetic low corridors (interpreted to be structural corridors) with flanking magnetic high features (interpreted to be granite gneiss). These are classic features in hydrothermal and structure related high grade deposits of the Athabasca Basin. The eastern part of the property contains an eight-kilometre ground EM conductor. Only one historic drillhole has tested this conductor and intersected strong bleaching and alteration in the Athabasca sandstone from 118m - 204m. Below the unconformity the hole encountered a pyritic, graphitic rock with 90% graphite locally. Anomalous uranium values of up to 2.16 ppm U were reported within a 20m section of sandstone immediately above the unconformity. The western part of the property contains a five-kilometre long conductor complex within a prominent magnetic low feature which remains untested. In 2008, two attempts by a previous operator to drill test this conductor complex were not successful and both holes were lost. The northernmost claims cover a magnetic low feature with an associated five-kilometre long conductor with...