Fission Uranium: New Radon
Survey Identifies Strongest Anomaly to Date
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Fission Uranium: New Radon Survey Identifies Strongest Anomaly to Date
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KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 05/06/13
Empire Industries Ltd. (TSX-V: EIL)today announced that its Dynamic Structures business unit has been
awarded a contract to manufacture a major amusement ride for one of
the leading amusement park owners in the United States. This prestigious
contract is valued in excess of $30 million and will be executed over
the next two years.
“This contract is important for Empire because it is the third such award
and is a confirmation of our ability to produce the most complicated, enjoyable
and safe ride systems in the world,” said Guy Nelson, Chief Executive Officer
of Empire Industries. “These type of complex projects are where Dynamic
Structures excels and we are delighted to have our customer endorse our
capabilities through this contract award.”
-- Strongest radon-in-water anomaly to date (13.3 pCl/L)
- located approximately 170m NE and along strike of
the R780E radon anomaly
-- 6 new radon anomalies, in addition to the 5 anomalies
identified during the initial survey, all associated
with known conductors and offsetting structures
-- The eastern-most radon anomaly located some 1,500 meters
east-northeast along strike of the R780E zone has been
confirmed, refined and extended
-- The radon survey appears to have successfully detected
uranium sources at greater than 50 meters depth that
justify further drill testing
Ross McElroy, President, COO, and Chief Geologist for Fission,
commented,
"Radon survey results have been used by Fission's technical team to
great
success at PLS and the technique was instrumental in identifying
the first pass
holes at two of the three discovery zones. These survey
results have
delivered new and highly promising targets as we continue
to plan for our
Summer drill program."
An updated radon map with the location of anomalies can be found at
the Company's website www.fissionuranium.com.
Radon surveying of bottom waters and lake sediment at Patterson Lake was
initiated at the beginning of the recent 2013 winter drill program.
This news
release covers new data collected in April, following
drilling, which extends
the original survey along the Paterson Lake
Conductor Corridor. The
original survey provided the drill targets for
high grade discovery holes at
the R390E and R780E uranium zones,
discovered this winter.
The Joint Venture has been granted an extension of the previous winter
drilling
permit. Drilling from barges on the lake is planned, and
permitting of this work
is in progress. Radon surveys will be continued
next winter to refine current
anomalies and extend the survey area in
the exploration for further anomalies,
particularly in areas, defined by
geophysical methods, of apparent cross cutting
structures within the
Patterson Conductor Corridor
.
Summary of Radon Anomalies
A total of eleven targets have been identified, including six along the
southern
conductor in the Patterson Lake corridor. In the farthest east
area of this
conductor on Patterson Lake, there are two radon anomalies
close to
two drill holes, selected earlier from geophysical data, and
which intersected
clay alteration. This is a priority area for follow-up
drilling this summer.
One target lies between the path of the South Conductor and the Central
conductor. This is a central area crossed by Line 1320 E where the
trace
of South Conductor has been interrupted and the trace of the Central
Conductor is showing a strong flexure, which is interpreted as an
important
north-south cross structure.
Three targets are indicated on the Central Conductor, with one located
near Line
960 E due north of the zone R780E and the other two lie on
each side of
Line 1920 E.
A further target lies on the south side of the Northern Conductor, close to
Line 1440 E.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by
Fission
Uranium Corp. and Alpha Minerals Inc (AMW). Fission is the
Operator. PLS
is accessible by road with primary access from all-weather
Highway 955, which
runs north to the former Cluff Lake mine, (greater
than 60M lbs of U3O8
produced), and passes through the nearby UEX-Areva
Shea Creek
discoveries located 50km to the north, currently under active
exploration
and development. An updated map highlighting the extended
radon survey
at PLS can be found on the Company's website at
http://www.fissionuranium.
com/projects/patterson-lake-south-sk/.
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 Ross
McElroy, P.Geol., President and COO for Fission Energy
Corp., a
qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company
specializing
in the strategic acquisition, exploration and development
of uranium
properties and is headquartered in Kelowna, British Columbia.
Common
Shares are listed on the TSX Venture Exchange under the
symbol "FCU".
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
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 regarding potential
spin-out and listing of Fission
Uranium and the future operating or financial
performance of Fission and
Fission Uranium 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: market conditions 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 and Fission
Uranium disclaim 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.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Contacts:Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
ir@fissionuranium.com
www.fissionuranium.com
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