Fission drilling at Saloon East detects highest radiation outside flagship Triple R

Drilling at Fission Uranium’s (TSX: FCU; US-OTC: FCUUF) Saloon East target has returned results with the strongest radioactivity yet at its Patterson Lake South (PLS) property outside its main Triple R deposit in northern Saskatchewan, the company says. 

Hole PLS24-684B cut five intervals of anomalous radioactivity over various widths, with the strongest coming from an 11.6-metre wide interval showing a peak of 12,677.6 counts per second (cps) at Saloon East, located about 4 km southeast of Triple R, Fission said Tuesday.

That hole included a 4-metre interval with a peak of 6,737.7 cps, and was among three drilled into Saloon East, in the Athabasca basin’s southwest. Saloon East sits along the multi-kilometre Saloon Shear zone parallel to the zones that host Triple R and NexGen Energy’s (TSX: NXE; NYSE: NXE; ASX: NXG) Arrow deposit. 

“The Saloon Shear Zone continues to deliver extremely encouraging signs associated with high-grade uranium mineralization,” Fission CEO Ross McElroy said in a release. “The exceptional results at the Saloon Main and East areas…give our exploration team a tremendous amount of optimism for the discovery of additional high-grade mineralization.” 

The results come just over 18 months after Fission released a feasibility study for Triple R, the highest-grade at shallow depth uranium deposit in the Athabasca basin that showed the project’s potential to become one of the world’s lowest-cost uranium mines. It’s also just days before shareholders are likely to approve a $1.1 billion takeover by Australia’s Paladin Energy (ASX: PDN; US-OTC: PALAF). PLS construction may start in 2026 and production in 2029.  

Cheers for Saloon Shear