Fission 3.0 Mobilizes Drills to Athabasca-Based PLN Project as Uranium Soars

Fission 3.0 Corp. (TSX-V: FUU)(OTC: FISOF) — currently trading around C$0.25 per share — has mobilized two diamond drill rigs for its upcoming 7-hole, 4,000-meter drill program at its 100%-owned Patterson Lake North (PLN) uranium project in the southwest Athabasca Basin region of Saskatchewan, Canada.

Located in close proximity to Fission Uranium’s Triple R and NexGen’s Arrow deposits, and with multiple untested and prospective targets for high-grade uranium, PLN is one of the most advanced and highest-ranked projects in Fission 3.0’s extensive uranium exploration portfolio. 

The program will focus on the previously untested Broach Lake target, where 5 holes are planned, and the N Conductor targets where the balance of drilling will take place. 

Additionally, the previous drilling at PLN by Fission 3.0 identified a mineralized structure associated with the 3-km-long A1 conductor with strongly anomalous geochemistry, including uranium values and pathfinder elements such as boron, copper, nickel, and zinc. Follow-up drilling at the A1 conductor is planned for summer 2022 and will be guided by ground geophysics currently in progress.

On the macro front, the uranium market is surging into 2022 in response to the current unrest in Kazakhstan — the world’s largest uranium producer.

As you’re undoubtedly aware, Kazakhstan erupted into full-blown crisis mode to start the new year with thousands of protesters storming, and burning, government offices while seizing control of the country’s main airport in an uprising against the country’s autocratic regime and its political elite. 

That resistance was swiftly met by a powerful Russia-led military alliance of post-Soviet “peace troops” (aka “kill without warning troops”) who opened fire on protesters killing dozens and injuring hundreds. No one knows just yet what the near or long-term implications will be for that country’s stability — not to mention its critical uranium supply and distribution capabilities. 

Needless to say… the violence, instability, and subsequent crackdown there is yet another powerful tailwind for uranium prices, which have now spiked from US$42/lb to US$45.25/lb in just the last several days. And it’s shifting the industry’s focus to where it should be: on more stable, uranium-rich regions of the world such as Canada and the United States. 

Led by CEO, Dev Randhawa, Fission 3.0 is deploying a brilliant business model of identifying and acquiring highly-prospective North America-based uranium exploration projects — particularly in Canada’s Athabasca — and then using its vast technical expertise, as sole operator, to develop and de-risk the projects for potential sale or joint venture. 

With a robust portfolio of 16 uranium exploration projects and counting in the Athabasca Basin region, speculators can expect a steady stream of news flow from the company over the coming quarters, including forthcoming drill results from PLN, with which to potentially drive values forward.

Access Gerardo Del Real’s most recent interview with Fission 3.0 CEO, Dev Randhawa. 

Read our feature report on Fission 3.0 Corp. 

Yours in profits,

mike-sig200
Mike Fagan
Editor, Resource Stock Digest

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