Fission Uranium Corp. (TSX:FCU) has achieved a new, major milestone with an application to the Canadian Nuclear Safety Commission (CNSC) for a license to construct a uranium mine and mill facility at the PLS high-grade uranium project in Canada’s Athabasca Basin, Saskatchewan.
Additionally, Fission has commenced the Front End Engineering Design (FEED) and continues to advance the PLS Project on schedule, including the completion of the geotechnical drilling, hydrogeological holes, test pits as well as downhole Vertical Seismic Profiling (VSP) geophysical surveys.
“I am very pleased to confirm that the construction license application for the PLS project has been submitted,” President and CEO, Ross McElroy, commented.
“Additionally, we have successfully completed our winter field program, and the Front End Engineering Design work is well underway. Our development path to production is progressing on schedule and, at the same time, the fundamentals for uranium continue to strengthen in line with the global reactor construction boom.”
Highlights
- An application for a License to Construct has been submitted to the CNSC per the requirements of the Nuclear Safety and Control Act;
- The Environmental Assessment of the Project is continuing on schedule with community engagement, baseline assessment reporting and data compilation;
- FEED phase advancing on schedule with Board approval of the 2023 budget;
- Feasibility Study (FS) concluded a construction timeline of three years with a projected mine life of 10 years and LOM production of 90.9Mlbs of U3O8
- FS determined an average unit operating cost of below US$10/lb U3O8 (approx. C$13.02/lb U3O8)
FEED Progress Details
- Geotechnical drill holes to support the design of the waste rock stockpiles and mill area facilities have been completed. Data from seven holes totaling 772.6m of drilling has been collected to confirm Feasibility Level assessment and to inform future Detailed Design assessment.
- 20 test pits along planned road allowances, the waste stockpile area and the mill area were completed to assess and support earthworks planning at Detailed Design.
- Downhole VSP geophysical surveys at the planned decline location and mill area have been completed. Results from this survey will be used to inform future Detailed Design assessment.
- Hydrogeological holes to gather additional data on the hydraulic conductivity of the basement rock have been completed. Installation of three monitoring wells and two pumping wells totaling 962.8m of drilling were drilled in close proximity to the R780E crown pillar and on the hangingwall and footwall of the deposit. One pumping well was pressure grouted and re-drilled to determine the effectiveness of grouting on reducing hydraulic conductivity within the basement rock. This additional data will be used to update the hydrogeologic model to inform underground mine planning at Detailed Design.
- The company is compiling the FS recommendations to formalize a scope of work for FEED and intends to appoint a lead consultant in Q2.
Patterson Lake South Property
The 31,039-hectare PLS project is wholly-owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine.
For further information please visit: https://fissionuranium.com/