We announced some strong results at Fission Uranium this week – results from the final assays of the winter program at PLS. As “With some huge intersections and high grades these results are a great end to the Winter program and a promising prelude to the Summer exploration program.” That was the comment from our Chief Geologist, Ross McElroy, and he should know. In addition to leading the current team which has made two major discoveries in three years he has been personally instrumental in four of the last nine major discoveries in the Basin.
I’ve pasted the assay highlights below but one of the results I wanted to draw attention to is hole PLS13-066 which returned an interval of 63.5m at 1.15% U3O8, including 2m at 9.51%.
As we draw an official line under the winter program and finalize preparations for Summer exploration, I’d like to share a reflection on where Fission now finds itself compared to our launch less than two months ago.
Phenomenal exploration progress: The Winter drill program started with a few mineralized holes in place and ended up, after a 46 hole, 82% strike rate drill program, with three high-grade zones and a wealth of data to plan and implement an aggressive Summer program. The program has been so successful that it started a rush by other exploration companies to stake land in the Western Athabasca Basin.
Huge shareholder value increase: If you were a shareholder of Fission Energy on November 1st 2012 (just days before the PLS discovery was announced) and you held onto your shares through the deal with Denison and the spinout of Fission Uranium – you’ll have seen the value of those shares increase by 378% as of today’s date. That’s taking into account your shares in Denison and the massive impact that the PLS discovery has had on Fission value.
Well-financed: At a time when numerous exploration companies are struggling to survive, we have over $17m in the bank which puts us in a tremendously strong position. A great project, strong land portfolio and industry leading exploration team is next to useless if you don’t have the money to develop them and deliver maximum shareholder value.
Fission has made tremendous gains since launching and the Summer drill program is just around the corner….
Dev Randhawa, CEO of Fission Uranium
