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Fission 3.0 to Test Uranium Indicators from Historic Drilling at Lazy Edward Bay
Kelowna, British Columbia--(Newsfile Corp. - May 18, 2022) - FISSION 3.0 CORP (TSXV: FUU) (O...
About this update from F3 Uranium Corp
[{"type":"text","content":"Fission 3.0 to Test Uranium Indicators from Historic Drilling at Lazy Edward BayKelowna, British Columbia--(Newsfile Corp. - May 18, 2022) - FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) (\"Fission 3\" or \"the Company\") is pleased to announce that mobilization is underway for the summer drilling program at the Lazy Edward Bay property on the east side of the Athabasca Basin region of Saskatchewan. The budget for the program is set at $1.5M with plans to drill 8 diamond drill holes totaling approximately 2000 m to follow up on encouraging historic drilling results with a number of favourable indicators for uranium mineralization. Located near the southern edge of the Athabasca Basin, the targets are at relatively shallow depths, with the Athabasca sandstone ranging to depths of approximately150 m where present.Traction Uranium Corp. (\"Traction') will fund the work program in accordance with the terms of the Option Agreement between Fission 3 and Traction, whereby Traction can acquire up to a 70% interest in the Lazy Edward Bay property. (see Dec 10, 2021 Fission 3 news release.)The Lazy Edward Bay property is located halfway between Cameco's Key Lake Mine and the high grade Centennial uranium deposit, and hosts NE-trending conductive corridors similar to those associated with Key Lake and Centennial. The major uranium deposits in the eastern Athabasca Basin, including Key Lake, McArthur River and Cigar Lake, are along the NE-trending Wollaston-Mudjatik transition zone and conductive corridor. To the west of the property, the Centennial deposit is localized along the NE-trending Virgin River conductive corridor which transects the entire Athabasca Basin. The Key Lake mine, located ~50 km to the east of the property is accessible by Provincial Highway 914, serviced by the provincial power grid, and has an operating mill where the McArthur River ore has been processed.Fission 3.0 summer drilling is planned along section, and along strike from encouraging historic drilling results, including anomalous uranium geochemistry, by Uranerz Exploration and Mining Limited in the 1980's and JNR Resources Inc. in the 2000's. The two main NE -trending conductive corridors on the property are referred to as the western Horse Trend and the eastern Liberty Trend. The western portion of the property captures most of the conductive Horse Trend, alo...