Fission 3.0
Intersects Off-Scale Mineralization in the First Follow Up Hole at
PLN A1 Discovery
Kelowna, British
Columbia - November 30, 2022 -- InvestorsHub NewsWire --
FISSION 3.0 CORP (TSXV: FUU)
(OTCQB:
FISOF) ("Fission 3"
or "the Company") is pleased to announce
that the first follow-up drill hole of the new high-grade discovery
in hole PLN22-035 (see Press Release Nov 21, 2022) at the
100%-owned PLN project on the A1 conductor has intersected 3.48 m
of total composite mineralization with greater than 10,000 cps
including 2.5 m of total off-scale radioactivity (>65,535 cps),
occurring as pitchblende patches. The follow-up hole, PLN22-038, is
still in progress and two additional follow-up holes of a 7-hole
program are planned in the immediate vicinity of this new
mineralization before the Christmas break.
Hole PLN22-038, the first
follow-up hole, targeted the A1 conductor 15 m up dip from the
discovery hole mineralization and is still in progress. Gyro survey
data indicates that the drill hole has deviated, and the new
mineralized intersection is less than 10 m away from the
mineralized intersection in the discovery hole.
Drilling Highlights
from First Follow Up Hole PLN22-038:
PLN22-038
(line 00N)
-
12.5 m
total composite mineralization
>300 cps over a 13.0 m interval (between 239.0 m to 252.0 m),
including
-
3.48
m of total composite
mineralization >10,000
cps over a 7.15 m
interval (between 243.85 m and 250.7 m including
-
2.5
m of total off scale
radioactivity (>65,535
cps) over a 3.0 m
interval (between 244.0 m and 247.0 m)
-
the hole is still in
progress.
(See
News Release November 21, 2022 for Drill Hole Summary
Table)
Drill hole PLN22-036,
located 630 m SE of discovery hole, PLN22-035, targeted the A1
conductor. An 8.5 m intersection of a graphite and sulphide rich
deformation zone (355.3 m to 363.8 m) corresponds to the
electromagnetic response, but no mineralization (>300 cps) was
noted. The hole was terminated at 422 m.
Drill hole PLN22-037 also
targeted the A1 structure about 830 m south of discovery hole,
PLN22-035. The hole was terminated at 500 m in fresh granite
gneiss and no mineralization (>300) cps was noted.
Raymond Ashley, Vice
President Exploration, commented
"It is a great start to the
follow-up step-out drilling, that the strongly mineralized
structure has been intersected. Two additional drill holes are
planned near the high-grade discovery in the current program to
establish the orientation and geometry of the mineralization. The
two diamond drills and sonic drill on the property will continue to
work in the immediate vicinity of the discovery hole for the
remainder of the PLN fall drill program."
Note
that there was a scale bar error in the Nov 21, 2022 Press Release
where this map first appeared.
Natural gamma radiation in
the drill core that is reported in this news release was measured
in counts per second (cps) using a handheld Radiation Solutions
RS-125 scintillometer. The Company considers greater than 300 cps
on the handheld spectrometer as anomalous, >10,000 cps as high
grade and greater than 65,535 cps as off-scale. The reader
is cautioned that scintillometer readings are not directly or
uniformly related to uranium grades of the rock sample measured and
should be used only as a preliminary indication of the presence of
radioactive materials. All depth measurements reported are
down-hole and true thickness are yet to be determined. Samples from
the drill core are split in half on site and are standardized at
0.5 m lengths. One half of the split sample will be submitted to
SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005
Accredited Facility) in Saskatoon, SK. for lithogeochemical
analysis using their "Uranium Package".
About Patterson Lake
North:
The Company's large 39,946
hectare 100% owned Patterson Lake North property (PLN) is located
just within the south-western edge of the Athabasca Basin in
proximity to Fission Uranium's Triple R and NexGen Energy's Arrow
high-grade world class uranium deposits which is poised to become
the next major area of development for new uranium operations in
northern Saskatchewan. PLN is accessed by Provincial Highway 955,
which transects the property.
Qualified Person
The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and approved on behalf of the company by
Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0
Corp., a Qualified Person. Mr. Ashley has verified the data
disclosed.
About Fission 3.0 Corp.
Fission 3 is a uranium
project generator and exploration company, focusing on projects in
the Athabasca Basin, home to some of the world's largest high grade
uranium discoveries. Fission 3 currently has 16 projects in the
Athabasca Basin. Several of Fission 3's projects are near large
uranium discoveries, including, Arrow, Triple R and Hurricane
deposits.
Forward Looking Statements
This
news release contains certain forward-looking statements within the
meaning of applicable securities laws. All statements that are not
historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs of
future performance, including statements regarding the suitability
of the Properties for mining exploration, future payments, issuance
of shares and work commitment funds, entry into of a definitive
option agreement respecting the Properties, are "forward-looking
statements." These forward-looking statements reflect the
expectations or beliefs of management of the Company based on
information currently available to it. Forward-looking statements
are subject to a number of risks and uncertainties, including those
detailed from time to time in filings made by the Company with
securities regulatory authorities, which may cause actual outcomes
to differ materially from those discussed in the forward-looking
statements. These factors should be considered carefully and
readers are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements and
information contained in this news release are made as of the date
hereof and the Company undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as
a result of new information, future events or otherwise, unless so
required by applicable securities laws.
The
TSX Venture Exchange and the Canadian Securities Exchange have not
reviewed, approved or disapproved the contents of this press
release, and do not accept responsibility for the adequacy or
accuracy of this release.
Fission 3.0 Corp. Contact
Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com
ON BEHALF OF THE
BOARD
"Dev
Randhawa"
Dev Randhawa, CEO
Cautionary Statement:
Certain information contained in this press
release constitutes "forward-looking information", within the
meaning of Canadian legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur", "be achieved" or "has the potential to".
Forward looking statements contained in this press release may
include statements regarding the future operating or financial
performance of Fission 3.0 Corp. which involve known and unknown
risks and uncertainties which may not prove to be accurate. Actual
results and outcomes may differ materially from what is expressed
or forecasted in these forward-looking statements. Such statements
are qualified in their entirety by the inherent risks and
uncertainties surrounding future expectations. Among those factors
which could cause actual results to differ materially are the
following: market conditions and other risk factors listed from
time to time in our reports filed with Canadian securities
regulators on SEDAR at www.sedar.com. The forward-looking
statements included in this press release are made as of the date
of this press release and Fission 3 Corp. disclaim any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable sec