Fission 3.0 Corp.
TSX VENTURE : FUU

Fission 3.0 Corp.

October 17, 2016 03:00 ET

Fission 3.0 Hits With Seven Holes at Macusani, Including 7,400 CPS Within 16m from Surface

Second Phase Drilling Intercepts Shallow Mineralization at Llama South and Llama North Prospects

KELOWNA, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2016) - Fission 3.0 Corp. (TSX VENTURE:FUU) ("Fission 3") is pleased to announce results from the final ten holes of its first-pass drill program at its Macusani property in Southeastern Peru, including MAC16-016, which intersected 8.0m of total composite mineralization with a peak of 7,400 cps within approximately 14.5m from surface. Seven of the ten holes intersected anomalous radioactivity at shallow depth. Six of the mineralized holes were located on the Llama North prospects and one at the Llama South prospect at Macusani, where surface outcrops returned anomalies up to 2.5% Uranium.

Results Highlights

  • Hole MAC16-016: Near-surface mineralization intersected over a 9.0m interval (14.5m to 23.5m) with a peak of 7,400 cps over 0.5m.
  • Shallow mineralization: Seven holes intersected anomalous radioactivity within approximately 46m from surface
  • Promising Radioactivity Counts Encountered in Multiple Holes: Anomalous radioactivity peak of 7,400 cps in hole MAC16-016, 950 cps in hole MAC16-010 and, as announced in NR dated June 21, 2016, 3,100 cps in hole MAC16-003
  • Both Locations Confirmed Prospective for High Grades: The holes were drilled at Llama South and Llama prospects, where numerous high-grade surface outcrops have been discovered
  • Large, Shallow Deposits Nearby: Llama South target is on trend with two nearby uranium deposits with recent resource estimates - Plateau Uranium's Corachapi Complex and Corani Complex

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

"We are very pleased with these results. Second phase drilling has intercepted the strongest and widest mineralization to date at Macusani, with hole MAC16-016 returning a peak of 7,400 cps on the Llama South prospect. In total, we encountered mineralization in eleven out of sixteen holes at very shallow depth and confirmed both the Llama South and Llama North prospects as key areas for follow up. With multiple uranium and lithium resources identified in adjacent properties, the presence of high-grade uranium outcrops at our prospect areas and now the completion of a very successful drill program, Macusani is rapidly becoming a key project for Fission 3.0."

Table 1: Llama North Prospect
Hole ID Target Collar Hand Scintilometer Radioactivity (>300 Cps) Total Drillhole
Depth (m)
Az Dip From (m) To (m) Width (m) CPS Peak Range
MAC16-007 Llama North 240 -45 0.0 1.5 1.5 520 - 560 129.4
54.50 63.0 8.5 <400 - 430
MAC16-008 Llama North 120 -65 No anomalous radioactivity 104.8
MAC16-009 Llama North 180 -55 45.50 46.0 0.5 420 88.5
MAC16-010 Llama North 120 -55 33.00 37.0 4.0 <400 - 950 118.6
40.50 41.0 0.5 400
44.50 47.0 2.5 <400 - 450
49.50 51.0 1.5 400 - 425
56.50 57.0 0.5 400
MAC16-011 Llama North 365 -55 24.00 24.5 0.5 400 100.5
94.50 95.0 0.5 540
MAC16-012 Llama North 340 -55 33.50 34.0 0.5 400 106.2
MAC16-013 Llama North 95 -75 29.00 43.0 14.0 <400 - 575 87.8
83.50 84.0 0.5 535
Table 2: Llama South Prospect
Hole ID Target Collar Hand Scintilometer Radioactivity (>300 Cps) Total Drillhole
Depth (m)
Az Dip From (m) To (m) Width (m) CPS Peak
MAC16-014 Llama South 300 -55 No anomalous radioactivity 115.6
MAC16-015 Llama South 210 -55 No anomalous radioactivity 122.1
MAC16-016 Llama South 180 -55 14.50 23.5 9.00 <400 - 7400 65.2

Natural gamma radiation in drill core as stated in this news release is recorded in the field, measured in counts per second (cps) using a hand held GR-110 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals can be highly variable. All intersections and features reported are with respect to down-hole meterage. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not necessarily representative of true thickness and true thicknesses are yet to be determined.

Samples from the drill core will be split in half sections on site. Where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to Bureau Veritas Commodities Canada Ltd in Lima Peru for preparation and the pulps will be sent onwards to their lab (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Vancouver, BC for analysis which includes U3O8 (wt %) and U ppm, while the other half remains on site for reference. All analysis includes a 40 element ICP‐ES & ICP‐MS, including gold, silver and all REE's. Uranium analysis will be by ICP-MS and lithium by ICP-ES.

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 2 m 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.

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