Popular
King Charles to emphasize bonds between UK and...
Man dies at Milan airport after being sucked...
Blaze at Cairo telecommunications building kills 4, disrupts...
International Criminal Court issues arrest warrants for Taliban...
The Best Five Sectors, #26
Top 5 Junior Gold Mining Stocks on the...
Stallion Uranium Enters into Technology Data Acquisition Agreement
Kobo Resources Launches Limited Edition Jersey to Support...
Australian Mines Enters Earn-in Deal with Cabral for...
Trump’s Big Beautiful Bill to Rewrite America’s Energy,...
  • Home
HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing
Investing

Fission Uranium Grows Athabasca Basin Portfolio by Staking New Assets

by November 4, 2024
written by November 4, 2024

Fission Uranium (TSX:FCU,OTCQX:FCUUF) has expanded its uranium exploration portfolio in and around Northern Saskatchewan’s Athabasca Basin by staking four additional properties.

According to the company’s Thursday (October 31) press release, the new sites, called Typhoon, Corsair, Merlin and Seahawk, encompass thousands of hectares and are situated near established uranium-producing areas and deposits.

Typhoon, which is located approximately 20 kilometers south of Fission’s flagship Patterson Lake South (PLS) project, covers 3,867 hectares. Geological surveys from past decades, including a 1969 airborne radiometric survey and a 2013 electromagnetic survey, revealed conductors suggesting possible graphitic fault zones.

These zones, common hosts for uranium mineralization, have yet to be drilled. Given Typhoon’s similar geological structure to PLS and its unexplored potential, Fission considers it a promising site for high-grade uranium.

The Corsair property, located 110 kilometers east-southeast of the PLS project, spans 3,481 hectares across three non-contiguous claims. Situated close to Cameco’s (TSX:CCO,NYSE:CCJ) Centennial uranium deposit and near significant fault zones, the Fission team believes Corsair benefits from a favorable geological position.

Historic exploration identified electromagnetic conductors associated with graphitic faults. Although earlier work focused on larger fault zones, Fission intends to evaluate the potential in areas overlooked in previous drilling campaigns.

Merlin, the smallest of the newly staked properties, covers 808 hectares and is located 36 kilometers from Cameco’s Key Lake uranium mill. Previous drilling near the site in 1981 uncovered anomalous uranium concentrations, though additional exploration has been limited. Fission’s preliminary assessment indicates that more focused drilling could yield further insights into Merlin’s resource potential, as the initial results suggest uranium presence in conductive fault zones.

Seahawk, at 6,293 hectares, is the largest of the four properties and lies about 33 kilometers southeast of the Athabasca Basin. It covers a 29 kilometer section of the Needle Falls shear zone, which Fission said is known for rock formations that often host uranium deposits. Previous work encountered mineralization indicators such as cobalt and nickel.

Additionally, radioactive boulder trains near Seahawk, documented in the 1970s, add to the site’s potential for uranium, though Fission notes that the exact source of these boulders remains unidentified.

Ross McElroy, Fission’s president and CEO, said the new properties support the company’s efforts to diversify and expand its holdings in the Athabasca Basin, which is known for its high-grade uranium deposits.

In June, Australia’s Paladin Energy (ASX:PDN,OTCQX:PALAF) announced plans to acquire Fission in a transaction valued at C$1.14 billion. The companies are currently awaiting Investment Canada Act clearance for the deal.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0 comment
0
FacebookTwitterPinterestEmail

previous post
Israel says it captured senior Hezbollah operative in amphibious special forces raid
next post
Big Pharma Stocks Eli Lilly, AbbVie and Pfizer Share Q3 Results

Related Articles

Top 5 Junior Gold Mining Stocks on the...

July 8, 2025

Stallion Uranium Enters into Technology Data Acquisition Agreement

July 8, 2025

Kobo Resources Launches Limited Edition Jersey to Support...

July 8, 2025

Australian Mines Enters Earn-in Deal with Cabral for...

July 8, 2025

Trump’s Big Beautiful Bill to Rewrite America’s Energy,...

July 8, 2025

Tech 5: US Lifts EDA Restrictions for China,...

July 7, 2025

Questcorp Mining Continues Exploration in Advance of Drilling...

July 7, 2025

Canadian Investment Regulatory Organization Trade Resumption – STUD

July 7, 2025

Crypto Market Recap: SEC Crypto ETF Guidance Sets...

July 7, 2025

Quimbaya Gold Closes $4 Million Financing and Expands...

July 5, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • King Charles to emphasize bonds between UK and France as he welcomes Macron in first European state visit since Brexit

    July 8, 2025
  • Man dies at Milan airport after being sucked into jet engine, local media reports

    July 8, 2025
  • Blaze at Cairo telecommunications building kills 4, disrupts internet, phone

    July 8, 2025
  • International Criminal Court issues arrest warrants for Taliban leaders, accusing them of persecuting women

    July 8, 2025
  • The Best Five Sectors, #26

    July 8, 2025
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 hotinvestingpilots.com | All Rights Reserved

HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing