Fission Uranium Corp T.FCU

Alternate Symbol(s): FCUUF

Metals & Mining Industrial Metals & Minerals

Fission Uranium Corp. is a Canada-based uranium company and the owner/developer of the high-grade, near-surface Triple R uranium deposit. The Company is the 100% owner of the Patterson Lake South uranium property. Its Patterson Lake South (PLS) project, which hosts the Triple R deposit, a large, high-grade and near-surface uranium deposit that occurs within a 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises over 17 contiguous claims totaling 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin. Additionally, the Company has the West Cluff property comprising three claims totaling approximately 11,148-hectares and the La Rocque property comprising two claims totaling over 959 hectares in the western Athabasca Basin region of northern Saskatchewan. The La Rocque property is prospective for high-grade uranium and is located five km south of Cameco’s La Rocque Uranium Zone.

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Fission Uranium Corp

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Post by sudzie191on Jan 27, 2015 9:50am

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Post# 23367045

NexGen news on hitting

So I believe a picture will gradually emerge of multiple deposits along a SW to NE direction, perhaps connecting FCU deposit to NexGen.

What this will do is up the tonnage, and make a stand alone mill practical.

The good news is that these deposits are in the nonconformity ie is basement rock so it is free of ground water and mine structural problems like the deposits in the sandstones.

So the deposits can be mined in open pit fashion that are close to the surface like FCU's or transition to underground, and NexGens deposit can be mined underground quite safely since in basement rock.

THis is very good news.

Raymond James has a good report out on FCU dated Jan 12 and they seem to think FCU grows to 140Mlbs with a price target of $2.20 and strong buy.

I think the under the lake concern is overblown. THis FCU mine starts on shore at the SW corner, a very low cost open pit whcih can likely be expanded towards the super rich main zone. THere is a space there that has not had a lot of drill holes so deposit can likely be infilled a bit.

A waterproof dyke can be built around the open pit deposit out into the lake and sealed off to the overburden to minimize inseepage. THe richest part of the depoit is higher up in the basement rock, ie shallow so can be open pit to minimize health hazards to the miners. THe lower grade stuff to the northeast can then be mined from the open pit to an underground operation. The lower grade underground portion will likely allow pillar support regions in the areas of very low grade U, so very little of the deposit can be sacrificed for mine roof support.

THis is all good news IMO, and we should have a very exciting future here for this area as the multiple deposits are found.

Producers are going to warm up to deposits in the basement rock pretty quick I think.

Permanaently freezing a very large ore hoist elevator in situ to keep out water and stabilize the wall rock can't be cheap or easy to do at other regions. Mining in solid basement rock, simple compared to that, wud think.

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