With the recent completion by Fission Uranium (TSX: FCU; US-OTC: FUCCF) of a 72-hole geotechnical summer program at the flagship Patterson Lake South (PLS) project in Saskatchewan, on schedule and with all goals successfully met, president and CEO Ross McElroy tells The Northern Miner the work required to complete a feasibility study is off to a “very strong start.”
The Kelowna, British Columbia-based company’s core project hosts the Triple R deposit. This large, high-grade and near-surface uranium deposit occurs within a 3.18-km mineralized trend along the Patterson Lake Conductive Corridor.
The property comprises 17 contiguous claims totalling 31,039 hectares. It is geographically in the southwest margin of Saskatchewan’s Athabasca Basin, notable for hosting the highest-grade uranium deposits and operating mines globally. The deposit has one of the largest lateral mineralized footprints of comparable deposits in the storied Athabasca Basin region and remains open in multiple directions.
In 2019, Fission completed first a hybrid open-pit and underground development scenario and followed up with an underground-only prefeasibility study. “While both mining studies showed positive outcomes, the results of the underground-only study showed stronger merits in most measurable criteria,” McElroy says in an interview.
With the completion of the prefeasibility studies, the next significant steps for the PLS project are to complete a feasibility study, embark on the environmental assessment (EA) phase, and advance permitting, environmental and social governance activities, including signing engagement and capacity funding agreements with key impacted rights-holders.