McElroy TNM interview - well worth reading I haven't seen that much comment here on the Dec. 29 Ross McElroy Northern Miner interview (republished on Stockhouse). It's a great article to read for anyone invested in FCU or FUU. Here is some of the comments I found most interesting:
TNM: At PLS, you have this string of zones. Where do you go from here?
RM: It’s basically controlled by a fault zone that’s several kilometres long. The uranium pools probably at the intersection of several faults, so that’s where you’re looking, you’re looking at the structural complexity along this trend.
The mineralization is controlled by a fairly steep fault. The vertical component of our mineralization is in excess of 100 metres in some cases. You get a zone that’s maybe 200 metres depth, and you’ll see mineralization, as we announced the other day, in about 40-43% of that. So it’s got a lot of depth potential to it as well.
Where do we go with this thing? We’ll continue to expand it along strike because it’s wide open. We haven’t even tested it laterally to see how wide it is.
There’s still a lot of drilling to do to put three dimensions to this thing and ultimately get a resource on it.
It’s pretty impressive what we’re sitting with now. We have 5 or 6 pods along the trend of this fault zone. This upcoming winter drilling is really going to stitch together the drilling between these pods and hopefully link up the mineralization so we see hopefully one big long body of mineralization.
That’s what we expect and there’s no reason to think it will be anything different, but that’s where we’re headed.
TNM: It is impressive. Are the conditions [on Dec. 19] good to drill?
RM: They’re getting there. Generally you’re waiting for the ice to be thick enough to support all the heavy equipment, and that doesn’t happen till early January. We are out now prepping the ice. We’ve got ice makers who are flooding it. We’re making it already over 20 inches, so it’s a great start. There’s no reason we won’t get off to an excellent start in January, it’s such a nice, cold winter. Things are going well and nature’s working with us, and we’re prepping up for our biggest season ever.
We’ll probably drill over a hundred holes in three-and-a-half months, and work towards defining a resource estimate in 2014. That’s where it’s headed.
TNM: In 2014, how much of your attention will be on PLS, and how much will be on other prospects or properties in the Fission portfolio?
RM: When we did the deal with Alpha, the idea was to put PLS as its own separate project in a company, so from Fission Uranium’s perspective, it will be 100% PLS.
The other projects have been put into "Fission 3.0" — a separate company — and I’ll work for both groups. I sort of see my time as being 80% PLS and 20% Fission 3.0. But we’ll use the same technical team between the two companies. There’ll just be a separation at the corporate level and the president level, where we can make sure we’re not in a conflict of interest.
We’re an incubator, if you will. A project generator. We stake new ground and employ our techniques to advance it and make discoveries, which we’ve done twice in the last four years. It’s been pretty successful. So basically, building an asset up with the intent to sell it to a Cameco or one of the majors out there.
Full article (Stockhouse link):
https://www.stockhouse.com/companies/bullboard/v.fcu/fission-uranium-corp?postid=22044244