TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
While the proposed project does not formally trigger an Impact Assessment (IA) under the Canada Impact Assessment Act, 2019, there will be close coordination required between the province and the
Project Summary
The 100% owned
Fission has been engaging with local rights-holder and stakeholder communities since exploration began at PLS in 2011. Engaging openly and honestly, building strong relationships, and working collaboratively with the local communities is important to Fission, and the Project would not be where it is today without community input. Since 2011, community feedback has inspired Fission to adopt a robust approach to environmental studies, monitoring, and stewardship informed by western science and Indigenous knowledge. Community feedback also prompted Fission to adjust the project approach by selecting an underground-only mining plan in place of a hybrid approach, which would have impacted
Through strategic community investments, Fission aims to help communities reach their goals by supporting local educational, cultural, and health initiatives, and by prioritizing the hiring of local community members and suppliers. During the EA process and future phases of development, Fission looks forward to continuing to work closely and transparently with local rights-holders and stakeholders.
The Project as proposed will include underground and surface facilities to support the mining and processing of uranium ore from the Triple R Deposit. The primary components included in the Project scope for the EA, are:
- Underground mine development utilizing both ramp and shaft access;
- On-site surface processing plant to produce yellowcake;
- Surface facilities to support the short and long-term storage of ore and waste rock;
- Surface Tailings Management Facility (TMF) to store all processing tailings;
- Water management and effluent treatment facilities; and
- Site support infrastructure including accommodation facilities for personnel, an airstrip for transporting personnel, maintenance shops, warehouse, and offices.
PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the
The R1515W, R840W and R00E zones make up the western region of the
The Company completed and filed a prefeasibility "PFS" study on
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.
Patterson Lake South Property
The 31,039 hectare PLS project is 100% owned and operated by
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by
About
ON BEHALF OF THE BOARD
"Ross McElroy"
Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: risks related to the Offering, risks related to Fission's limited business history, risks related to the nature of mineral exploration and development, discrepancies between actual and estimated mineral resources, risks related to uranium market price volatility, risks related to the market value of the common shares of Fission, risks related to market conditions, risks related to the novel coronavirus (COVID-19) pandemic, including disruptions to the Company's business and operational plans, risks related to the global economic uncertainty as a result of the novel coronavirus (COVID-19) pandemic and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE
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