Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Fission Uranium Corp T.FCU

Alternate Symbol(s):  FCUUF

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.


TSX:FCU - Post by User

Bullboard Posts
Post by rderkachon Feb 06, 2015 9:12am
326 Views
Post# 23403080

just to show you how Fission Mgmt is seen amongst peers

just to show you how Fission Mgmt is seen amongst peers


Aldrin, Fission Up After Signing Key Lake Option Agreement5

The big news in the uranium space on Thursday was Fission 3.0 (TSXV:FUU6) and Aldrin Resource7‘s (TSXV:ALN8) joint announcement9 that they have signed an option agreement under which Aldrin can earn up to a 50-percent interest in Fission 3.0′s Key Lake property package.

Located in the southeastern area of Saskatchewan’s Athabasca Basin, Key Lake is made up of five separate, but contiguous, properties containing a total of 61 mineral claims that cover about 18,392.7 hectares. The five properties are called River Lake, Costigan Lake, Karpinka Lake, Millson Lake and Hobo Lake, and according to the companies, they come with a variety of benefits. Those include proximity to infrastructure and the Key Lake mill, which handles slurry ore from the MacArthur River mine, as well as geological prospectivity.

To earn its 50-percent interest, Aldrin has to spend $6.9 million on staged exploration on or before May 1, 2019. Payment deadlines are as follows:

  • $1 million by May 1, 2016
  • $1.7 million by May 1, 2017 (20-percent interest gained)
  • $2 million by May 1, 2018 (10-percent interest gained)
  • $2.2 million by May 1, 2019 (20-percent interest gained)

Prior to making those payments, Aldrin must pay Fission 3.0 $100,000 in cash and issue it a total of 1.9 million shares within 10 business days of the TSX Venture Exchange approving the transaction. The company also has to make semi-annual $100,000 payments to Fission 3.0 during the earn-in period.

In terms of what attracted Aldrin to Key Lake, CEO Johnathan More told Uranium Investing News (UIN) that Fission’s past successes were a key part of what drew his company in. Specifically, he pointed to the fact that Fission’s technical team has made two big discoveries in the last four years — the Triple R and J Zone deposits — and noted that Key Lake holds similar promise and is prospective for hosting rich, high-grade and shallow mineralization.

The team at Fission 3.0 seems similarly pleased with the arrangement. As Ross McElroy, the company’s COO and chief geologist, said in Thursday’s release, “[w]e’re looking forward to utilizing the in-house skills and techniques we’ve developed in recent years when we begin exploration this year.” Similarly, Dev Randhawa, the company’s chairman and COO, noted, “[t]his latest agreement gives Aldrin and its shareholders the opportunity to partner with the top technical teams in the uranium exploration sector and enables Fission to explore a highly prospective part of its project portfolio.”

Though some historic data for Key Lake exists, McElroy told UIN that initial work there will be aimed at getting a better understanding of the area. Airplane surveys looking at radiometrics and conductors will be first on the docket, with Fission 3.0′s patent-pending airborne radiometric survey equipment being used. “It gives us a real advantage over everyone else,” McElroy said. That will be followed by ground geophysics and — in about a year’s time — drilling on the most prospective areas.

As of 3:35 p.m. EST on Thursday, Aldrin’s share price was up 14.29 percent, at $0.20. Meanwhile, Fission 3.0′s was up 6.25 percent, at $0.085.

Bullboard Posts