Fission 3.0 drilling intersects an encouraging clay altered fault zone at Hearty Bay
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Kelowna, British Columbia–(Newsfile Corp. – April 25, 2022) – FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) (“Fission 3” or “the company”) is pleased to announce that drilling and ground geophysics at the Hearty Bay project in the Athabasca region of Saskatchewan, in the main upstream direction of the historic high-grade uranium block trains on Brochet Island , intersected a clay-altered hydrothermal fault zone in hole HB-22-008 at the SW end of a new conductor. This is encouraging because uranium mineralization in the Athabasca Basin is often found near clay-weathered and conductive fault zones and this new conductor is a promising target for future drilling.
Highlights of the drilling and geophysical program are as follows:
- 14 drill holes completed for 1,304 meters of diamond drilling
- 77 linear km of ground EM geophysics completed
- Holes HB22-005 and HB22-008 intersected a 3m zone and an 11.5m zone respectively of brecciated and faulted basement rocks that exhibited strong hydrothermal clay alteration, features often associated with rock mineralization. uranium in the Athabasca Basin.
- Hole HB22-008 intersected a significant fault with encouraging alteration further NE of the high-grade uranium boulder trains on Isle Brochet in the main glacial strike, arguing that future drilling to locate the source should continue in this direction.
- The ground EM survey identified new subsurface conductors NE of Isle Brochet that coincide with interpreted faults from the 2019 marine seismic survey. Borehole HB22-008 is located at the southwestern end of these 2 km long subparallel conductors, suggesting an association with the intersecting hydrothermally altered fault and providing follow-up targets for future drilling along these new conductors.
- 429 drill core samples were submitted to SRC geoanalytical laboratories in Saskatoon for geochemical analysis. The geochemical results will be used to try to point to the source of the high-grade uranium block trains and refine future drill targets.
The objective of the drill program was to test the interpreted structural characteristics and outliers of sandstone based on the 2019 marine seismic survey in the main upwind direction of the ice from the historic high-grade uranium boulder trains on Brochet Island and beyond the known edge of the Athabasca Basin. . Although no sandstone outliers were identified, holes HB22-005 and HB22-008 intersected a 3m zone and an 11.5m zone respectively of brecciated and faulted basement rocks with argillaceous alteration hydrothermal. The 74.5m to 86m major fault zone in hole HB22-008 is composed of a 1.6m clay-supported cataclasite breccia immediately followed by clay, quartz, and calcite. occurring in smaller scale fractures and faults. This is encouraging because uranium mineralization in the Athabasca Basin is often found near clay-altered hydrothermal fault zones.
Hole HB22-008 is furthest NE of the high-grade boulder trains on Isle Brochet in the main ice strike, supporting that future drilling to discover the source of the uranium-bearing boulder field should continue. in that direction.
The ground-based EM survey identified previously unknown NE trending basement conductors to the NE of Isle Brochet. Drill hole HB22-008 is located at the southwest end of these new 2 km long sub-parallel conductors, indicating a possible association with the encouraging hydrothermally altered fault and providing additional support for future drilling to proceed. continue further NE along and targeting these new conductors. .
Hearty Bay Property Exploration Update Map for Winter 2022
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About Hearty Bay:
The Hearty Bay property comprising 7 contiguous mining claims covering an area of 11,173 ha. is located on the northern edge of the Athabasca Basin, 20 km west of the Fond-du-Lac uranium deposit and 60 km east of the Beaver Lodge uranium district. The property surrounds the historic Isle Brochet high-grade boulder field, consisting of the 1 km long Wolfe and Jackfish scatter trains trending down-ice and containing reported historic assay values of up to 3.54% uranium. About 600 m to the northeast, at the bottom of the lake, a group of radioactive rocks was discovered and is believed to contain up to 1.4% U.3O8. These boulders were both sandstone and weathered bedrock, which was interpreted to indicate that the mineralized source was at or near the unconformity. Historical drilling by Eldorado near these boulders at the Athabasca Basin margin did not intersect any significant radioactivity, and thus the source remains undetermined.
Prospecting work by Fission 3 in 2019 at the historic Wolfe and Jackfish boulder fields at Isle Brochet identified and sampled 45 new occurrences of mineralized sandstone and basal conglomerate boulders, returning radioactivity readings between 190 and >10,000 cps and assay values ranging from 0.07% to 8.23% U3O8. More than 24% of blocks returned analysis values > 1% U3O8 with an average of 3.06% U3O8. Sandstone and conglomerate lithologies suggest that the source originated at or near the Athabasca sandstone-basement unconformity, and probably near it. In addition, historical records indicate the presence of mineralized basement and sandstone lithologies in the boulder fields. This strongly suggests that the Athabasca Basin margin represents a high priority focus for source exploration.
A 255 km marine seismic survey was carried out by the company NE of Isle Brochet in the main direction of the up-ice. Interpretations suggested several potential drill targets consisting of possible sandstone outliers bounded by subsurface structural features to the northeast and further upstream of the ice from which historical Eldorado drilling was focused.
A 2,490 line km high resolution airborne magnetic and radiometric geophysical survey was conducted in 2021 and several new geological structures were interpreted from the data.
Traction Uranium Corp. has the option to acquire up to a 70% interest in the Hearty Bay project and has funded the winter 2022 ground geophysics and drilling program. (See press release F3.0 dated December 10, 2021 .)
About Fission 3.0 Corp.
Fission 3.0 Corp. is a uranium project exploration and production company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high-grade uranium discoveries. Fission 3.0 currently has 16 projects in the Athabasca Basin. Several of the Fission 3.0 projects are close to major uranium discoveries, including the Arrow, Triple R and Hurricane deposits.
The technical information contained in this press release has been prepared in accordance with the Canadian regulatory requirements set forth in National Instrument 43-101 and reviewed on behalf of the Company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp. . , a qualified person.
ON BEHALF OF COUNCIL
Dev Randhawa, CEO
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