Fission Energy unveils Waterbury J-Zone drill results

Fission Energy Corp. (CVE:FIS) disclosed the latest assay results from its 2012 winter drill program from the J-Zone Waterbury Lake property on Monday.

The Waterbury Lake property covers 40,256 hectares in Saskatchewan’s Athabasca Basin. Fission has a 60 per cent stake in the joint venture project, with Korea Waterbury Uranium holding the remaining 40 per cent.

The junior natural resource miner said 36 of 49 step-out and infill holes hit mineralization returning assay grades at a 0.05% cut-off. The J-Zone’s east-west strike length now extends 667 metres from the Rio Tinto property boundary to the west to drill hole Wat 12-281.

Among the highlights, J-Zone area B drill hole Wat 12-242 returned 1.37% Uranium at nine metres. This includes 3.72% Uranium at 1.50 metres and 2.64% Uranium at 1.50 metres. Drill hole Wat 12-244 intersected 1.97% Uranium at 5.50 metres. This includes 9.61% Uranium at just one metre and 0.28% Uranium at four metres.

Hole Wat 12-247, meanwhile, intersected 1.05% Uranium at eight metres. This includes 2.22% Uranium at three metres.

“Results continue to demonstrate the significant potential for growing the J Zone,” said Fission Energy chief operating officer Ross McElroy.

J-Zone area C returned 0.20% Uranium at 23 metres in drill hole Wat 12-226. This also includes 0.64% Uranium at three metres, and 0.27% Uranium at three metres.

Drill hole Wat 12-228 intersected 0.31% Uranium at 12.5 metres, including 1.22% Uranium at just one metre. This includes 0.66% Uranium at 1.5 metres. 

Fission had budgeted $30 million for exploration at Waterbury Lake over a three year period from 2010 through 2012.

Full details can be viewed at http://www.fission-energy.com/s/WaterburyLake.asp