Fission Uranium Corp. owns a 100% interest in the advanced, high-grade and near-surface Triple R uranium deposit.
Located on the south-western edge of Canada’s Athabasca Basin, the Triple R deposit is part of a 3.2km mineralized trend on the Patterson Lake corridor. This mineralized trend is the longest lateral footprint in the Athabasca district and is hosted entirely within Fission’s large-scale PLS property.
Fission’s highly successful, dual strategy at PLS over the past several years has enabled the company to explore for new mineralization while advancing developing the core part of the deposit to prefeasibility. High-grade zones have been discovered in both directions along trend of the main R780E zone and have been added to the overall resource estimate. In 2019, the Company released results of two prefeasibility studies – one outlining a hybrid approach (combining open pit and underground techniques) and one outlining an underground-only mine plan. Both studies presented strong results, including low OPEX, fast payback and strong IRR, which highlight the potential for highly economic production at PLS. While both options remain viable, the upcoming feasibility study will focus on the best option, most likely the underground only scenario.
The Company has the strategic backing of China’s CGN Mining, which has invested over $82M in Fission., at a substantial premium, in early 2016.
Fission’s President, COO and Chief Geologist, Ross McElroy, has led the Company’s multi-discipline team to success with two major uranium discoveries in past decade. For his role in making the PLS discovery, he was awarded the 2013 PDAC Bill Dennis award and, jointly with Fission CEO, Dev Randhawa, won The Northern Miner’s “Mining Person of the Year”, EY Entrepreneur of the Year (Finalist) and The Mining Journal’s “Excellence” Award. Leading mining publication, The Mining Journal, has called PLS the world’s top undeveloped uranium asset.
Management’s goal is to grow shareholder value through further advancement of the Triple R deposit and continued exploration at the large and highly prospective PLS project.