Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Fission Uranium Grows Athabasca Basin Portfolio by Staking New Assets

by admin November 4, 2024
November 4, 2024
Fission Uranium Grows Athabasca Basin Portfolio by Staking New Assets

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
FacebookTwitterGoogle +Pinterest
previous post
These S&P 500 Stocks Are Poised To Outperform!
next post
Big Pharma Stocks Eli Lilly, AbbVie and Pfizer Share Q3 Results

Related Posts

PGMs Surge as US Pushes G7 Sanctions, BRICS...

October 26, 2024

StrategX Discovers Extensive High-Grade Graphite at Nagvaak and...

March 4, 2025

Radiopharm Theranostics Doses First Patient with 18F-RAD101 in...

April 29, 2025

Grande Portage Announces First Closing of Non-Brokered Private...

November 14, 2024

Top 10 Tin-producing Countries (Updated 2024)

December 18, 2024

Nickel Price Update: Q1 2025 in Review

April 23, 2025

SAGA Metals Engages Paul McGuigan as its Qualified...

June 5, 2025

13 Canadian Crypto ETFs (Updated 2025)

January 15, 2025

McDermitt PFS Demonstrates Multi-Decade Competitive Source of US...

November 19, 2024

Admission to Trading on the Ghana Stock Exchange

May 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Strategic Chaos or Tactical Goldmine? What QQQ’s Chart is Whispering Right Now

      June 5, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 5, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 5, 2025
    • Speaker Johnson surprised by Musk’s criticism of ‘big, beautiful bill’: He’s ‘flat wrong’

      June 5, 2025
    • There’s a way to aid Gaza. I know, my foundation just helped deliver 7 million meals… without incident

      June 5, 2025

    Categories

    • Business (967)
    • Investing (2,320)
    • Politics (2,873)
    • Stocks (1,054)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved