Fission 3.0 Hits Strong Uranium and Lithium Mineralization at Macusani

Fission 3.0 Corp.
December 21, 2016

Fission 3.0 Hits Strong Uranium and Lithium Mineralization at Macusani

Multiple drill holes intersect uranium and lithium mineralization at two key prospects

KELOWNA, BRITISH COLUMBIA–(Marketwired – Dec. 21, 2016) – Fission 3.0 Corp. (TSX VENTURE:FUU) (“Fission 3“) is pleased to announce that assay results confirm high-grade uranium, along with lithium mineralization, at its Macusani project in Peru. Drilling intersected uranium mineralization of up to 12,151 ppm U3O8 (1.21% U3O8) just 16.0m from surface (hole MAC16-016) and lithium mineralization of up to 533 ppm (hole MAC16-009). Thirteen of sixteen holes were mineralized and all mineralization was encountered near to, and even at, surface.

News highlights

  • Near-surface and at-surface uranium and lithium mineralization
  • High-grade uranium of up to 12,151 ppm over 0.5m at just 16m from surface (hole MAC16-016), equivalent to 1.2103% U3O8
  • Lithium of up to 533 ppm over 0.5m (hole MAC16-009)
  • Drilling success rate of over 80%, with thirteen of sixteen holes mineralized

Ross McElroy, COO, and Chief Geologist for Fission 3, commented,

“Our 1st pass drilling at Macusani includes very encouraging results – with uranium and lithium mineralization in several drill holes on both the Llama South and Llama North prospects at shallow depths. Both prospects compare favorably in grade, and are on trend with, Plateau Uranium Inc.’s (“Plateau Uranium”) two nearby uranium deposits. Plateau Uranium’s recently-completed, robust PEA shows an OPEX of US$17.28/lb and payback within 1.76 years.”

The two Plateau Uranium deposits on-trend with Fission 3’s Llama South and Llama North prospects include the Corachapi Complex (5.0M lbs U3O8 Measured and Indicated at 195 ppm U3O8 and 1.91M lbs U3O8 Inferred at 230 ppm U3O8) and Corani Complex (1.3M lbs U3O8 Measured and Indicated at 131 ppm U3O8 and 1.8M lbs U3O8 Inferred at 166 ppm U3O8) based on cut-off grade of 75 ppm U.

High-priority exploration prospects. Drilling focused on the Llama South and Llama North prospects, where numerous anomalous uranium outcrops have assayed >2% U3O8 including a maximum of 24.48% U3O8. The prospects are part of an anomalous mineralized 8km NE oriented corridor that includes two shallow, resource-defined and heap leachable uranium deposits on Plateau Uranium’s property. Both deposits are also host to substantial lithium mineralization.

Table 1:

Composited Mineralized Intervals (Down-hole measurements)

Zone Hole ID Azimuth Dip From
(m)
To
(m)
Interval
(m)
U3O8
PPM
Li
PPM
K
(%)
Llama South MAC16-001 0 -90.0 No Significant Mineralization
MAC16-002 305 -65.00 No Significant Mineralization
MAC16-003 305 -55.00 0.60 2.50 1.90 1967 355 4.05
1.50 2.50 1.00 3838 345 4.22
6.00 6.50 0.50 610 427 3.50
12.50 13.50 1.00 121 459 3.83
16.50 17.00 0.50 107 390 3.78
MAC16-004 225 -65.0 15.00 15.50 0.50 150 509 3.77
MAC16-005 225 -55.0 1.50 9.50 8.00 498 404 4.51
4.50 6.50 2.00 1274 413 4.47
MAC16-006 305 -75.0 14.50 15.50 1.00 154 400 4.37
MAC16-014 180 -55.0 No Significant Mineralization
MAC16-015 300 -55.0 29.00 29.50 0.50 379 415 4.28
MAC16-016 210 -55.00 16.00 16.50 0.50 12151 423 4.34
19.50 24.50 5.00 103 488 4.30
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 75 ppm U
3. Maximum Internal Dilution: 2.00m

Table 2:

Composited Mineralized Intervals (Down-hole measurements)

Zone Hole ID Azimuth Dip From
(m)
To
(m)
Interval
(m)
U3O8
PPM
Li
PPM
K
(%)
Llama North MAC16-007 240 -45.00 0.00 0.90 0.90 1068 411 3.53
52.50 53.00 0.50 102 462 4.10
56.00 60.00 4.00 55 334 3.88
108.50 111.50 3.00 104 370 3.97
MAC16-008 120 -65.0 42.00 42.50 0.50 90 483 4.30
MAC16-009 180 -55.00 45.50 46.00 0.50 150 533 3.55
47.00 47.50 0.50 92 415 3.76
MAC16-010 120 -55.00 34.00 37.50 3.50 260 451 3.95
36.50 37.00 0.50 1330 469 4.07
44.50 47.50 3.00 135 304 4.27
53.00 53.50 0.50 232 255 3.89
56.50 57.00 0.50 102 261 3.63
67.00 70.00 3.00 164 329 4.02
MAC16-011 360 -55.0 94.50 95.00 0.50 391 285 3.81
MAC16-012 340 -55.00 32.00 32.50 0.50 106 309 3.13
34.50 35.00 0.50 107 470 3.45
MAC16-013 95 -75.00 29.00 31.50 2.50 94 441 3.54
34.00 40.00 6.00 98 415 3.63
83.50 84.00 0.50 989 523 3.52
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 75 ppm U
3. Maximum Internal Dilution: 2.00m

Composited U ppm mineralized intervals are summarized in Tables 1 and 2 using the following parameters: 1) Minimum Thickness of 0.50m 2) Grade Cut-Off of 75 ppm U and 3) Maximum Internal Dilution of 2.0m. Composited Li ppm and K% intervals include all results within the Composite Parameters used to determine U ppm intervals. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to Bureau Veritas; prep lab in Peru, for analysis and final analysis is carried out in Vancouver. The other half remains on site for reference. All analysis includes the MA250 Analysis Package (Four-Acid Digestion, ICP-ES and ICP-MS). Samples overlimit for Uranium (above 4,000 ppm) were re-analyzed using the MA270 package (Multi Acid Digestion, ICP-ES). All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.

An updated map can be found on the Company’s website at http://fission3corp.com/projects/macusani/maps/.

The Macusani Project

The Macusani property is located within southeastern Peru. Fission 3.0 Corp. holds the rights to 9 claim blocks encompassing 51 km². The district is mining-friendly, has a mild climate and has solid infrastructure, including all-weather roads and low-cost power.

Within the area, the stratigraphy is dominated by the sub-horizontal Pliocene Quenamari Formation, which is mainly composed of ignimbrite layers. Uranium anomalies occur on plateaus that are composed of the Upper Yapamayo Member of the Quenamari Formation. Sampling to date has shown that the most significant uranium anomalies appear to be restricted to this assemblage. Mineralization within the area is dominated by very high grade Autinite veins along ‘enriched fault planes’, with lesser disseminated mineralization. The significant fault planes can vary from up to 2m thick, while multiple enriched fault planes occur in shear zones up to 150 m across.

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., COO and Chief Geologist for Fission 3.0, a qualified person.

About Fission 3.0 Corp.

Fission 3.0 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 “FUU.”

ON BEHALF OF THE BOARD 

Ross McElroy, COO 

Fission 3.0 Corp.

Cautionary Statement: Fission 3.0 Corp.

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 the future operating or financial performance of Fission 3.0 Corp. 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 Fission 3.0 Corp. 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.

CONTACT INFORMATION:

      Fission 3.0 Corp.
      Rich Matthews
      Investor Relations
      TF:

778-484-8030
[email protected]
www.fission3corp.com

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