Fission Uranium Corp. (TSX:FCU) has revealed a significantly updated independent resource estimate for the Triple R deposit at its 100% owned, Patterson Lake South (PLS) property in Canada’s Athabasca Basin region.
Total Indicated tonnes have increased by ~21.3% (~472,000 tonnes) compared to the previous Mineral Resource (dated September 19, 2019), with an associated increase of approximately 12.3% in contained U3O8 and a minor decrease in grade from 2.10% U3O8 to 1.94% U3O8.
The new, larger resource is primarily due to the successful infill drilling programmes on the R780E and R840W zones from 2019 to 2021 and will be fundamental to the Feasibility Study (FS), including life of mine (LOM) calculations and processing schedule.
“Fission’s resource growth programme has been a resounding success,” President and CEO, Ross McElroy, said.
“The increased resource estimate of the Triple R deposit at PLS will play an important role in the calculations used for the feasibility study, the results of which are expected by year end.
“It’s important to note that much of the growth has come from the R840W zone, the majority of which is now classified as Indicated, which will allow for inclusion in the new FS mine plan.
“In terms of further growth, the deposit remains open in multiple directions, and we do of course have another two mineralized zones along trend which are still classified as primarily Inferred resources.”
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