RE:RE:RE:News: Fission Doubles Winter Program with Drilling UnderwayWe probably shouldn't be too, too surprised at the extent of the "Exploration" holes they are doing - they have been saying for over a year - "Early Days at PLS" - and kept hinting at the exploratory nature still.....
BUT, this is definitely what I will call "Wild Cat Winter" and while super exciting, I think we need to prepare for a higher % of duster holes than in the past as well. This is by far a more exploratory drill season than we have probably seen in a couple of years IIRC. We are looking at a few other conductors and really pushing west.
On the other hand, much bigger chance for game changing find too - which expansion drilling doesn't really do.
I agree, this is prep work for potential spin out at some point down the road. Probably anything not on the Patterson Lake Conductor could be spun out at some point and all this exploratory drilling and other testing is providing quite the complete picture of the whole property and particularly the boulder field and next closest conductors North and South of the PLS Conductor.
To be fair, a lot of the exploration is to the West of 840 zone and that is where I have the most optimism and excitement as I feel FCU is pretty sure they will find some solid yellow-cake where they had that near miss and in general area towards boulder field. Any more shallow, high-grade in that area really is a game changer, despite market not paying much attention to it yet.....just not enough pounds to differentiate it from the neighbour NXE yet. BUT, if the pounds pile up shallow and NOT under the lake, investors WILL begin paying attention ....
Interesting times. Happy to see the doubling of exploratory holes, nervous how the weak FCU hands will react with a few misses, which there are bound to be. Will they at least take those if we hit towards boulder field? Remains to be seen!
Still say FCU extremely undervalued, relative to other players at this time...