Fission Energy Corp. (TSX: V.FIS, Stock Forum) and its Limited Partner, the Korea Waterbury Uranium Limited Partnership, have completed the winter 2013 drill program on the Waterbury Lake property in northeastern Saskatchewan.
The Korea Waterbury Uranium Partnership is a consortium comprised of Korean-based companies, led by Korea Electric Power (KEPCO). A total of 68 drill holes and 11 restarts were completed for a total of 21,012 meters, Fission said.
The program was focused on delineation and growth of the J Zone, covering all three areas (Area A, B, and C).
In Area C: WAT13-346 (line 500W) intersected a 22.5 wide interval (196.0 m – 218.5m) of weak to strong radioactive mineralization, including a 0.1 metre interval of off-scale radioactivity.
Mineralization was found in 35 holes or 51% of the holes in the program, the company said in a press release.
This program completes the budgeted 3-year, $30 million exploration program begun by Fission and the Warterbury Consortium in 2010.
Fisson shares eased 0.97% to $1.02 Friday, leaving the company with a market cap of $131.7 million, based on 129.2 million shares outstanding. The 52-week range is $1.26 and 33.5 cents.