www.fission-energy.com
Fission Energy Corp. (TSX.V-FIS) is a Canadian based uranium exploration and development company with properties in Saskatchewan's Athabasca Basin, Quebec, and the Macusani District in Peru. The Company's shares were spun-out as a distribution by Strathmore Minerals Corp (TSX.V-STM) in 2007. In 2003-04 Fission assembled one of the largest exploration property portfolios in Saskatchewan's Athabasca Basin; home of the richest uranium deposits in the world. Fission's most valuable exploration asset is the Waterbury Lake KEPCO Consortium Joint Venture., which is located in close proximity to Hathor's Midwest NE discovery ("Roughrider Zone")
Fission Energy begins hunt for extension to Hathor Exploration's Roughrider Uranium Zone
Fission Energy (TSXV: FIS) confirmed that its highly anticipated drilling program at the Waterbury Lake Uranium Project ('Waterbury Project') was now underway. The Waterbury Project is locate in close proximity to Hathor Exploration's Roughrider Zone uranium discovery.
Fission Energy and its joint venture partner, the KEPCO Consortium, will drill seven holes at Waterbury. The first three holes will be testing for the possible high grade extension of the Roughrider Zone.
The KEPCO consortium is primarily comprised of Korean-based companies, led Korea Electric Power - a Korean government-invested diversified energy company with over US$83 billion in assets.
Hathor reported on June 30, 2009, high grade intersects of uranium only 10 meters from Fission's property boundary. Intersects reported by Hathor included an impressive 13 meters grading 18.12% U308 in drill hole MWNE-09-116. ole MWNE-09-129, collared approximately 20m to the south-west of hole MWNE-09-116 intersected 5 meters grading 15.65% U3O8.
"Last winter's geophysical surveys identified a number of new high priority drill targets, which further demonstrates the excellent potential exhibited by the 40,256 ha Waterbury Lake Property for hosting an undiscovered uranium deposit," Fission noted. "The summer drill program will also include two drill holes which will test a resistivity low anomaly, located in a previously unexplored area, approximately 8km to the southwest of the Denison-AREVA Midwest deposit. The final two holes will test a resistivity low anomaly located approximately 3 km north of Discovery Bay. These resistivity low anomalies may represent the signatures of structurally controlled hydrothermal alteration. Identifying such systems are a key to searching for uranium deposits."
Fission also reported that a property wide high resolution airborne magnetic survey was 70% complete.
"While exploration at Fission's Waterbury Lake project remains focused on the ground adjacent to Hathor's Roughrider Zone uranium discovery, the Company is making considerable progress in identifying multiple new priority targets from ongoing geophysical programs on this large, strategically located property. The Waterbury Lake Property is located in the northeast part of the Athabasca Basin, where several open-pit uranium deposits, including Midwest Lake, McClean Lake, and Rabbit Lake, are found."
