Home / Forex & Currency Exchange News / New Areas of High-Grade Uranium Mineralization Drilled in Athabasca Basin

New Areas of High-Grade Uranium Mineralization Drilled in Athabasca Basin

The Energy Report

Source: The Energy Report   06/20/2017

A winter drilling program at Patterson Lake South in Canada’s uranium-rich Athabasca Basin has confirmed high grades of mineralization on one company’s property, and suggests the mineralized trend may be extendable.

fission-pic

In a June 6 research report, Rodman & Renshaw analyst Heiko Ihle commented on results released June 5 by Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE), stating that “results from the final assays of its winter program [confirmed] high-grade mineralization at the new R1515W zone at its PLS property. Six of eight holes were mineralized, with four returning multiple high-grade intervals.”

In its press release, Fission Uranium, which is developing the Triple R deposit on its Patterson Lake South (PLS) property, stated assays from four holes returned “multiple high-grade intervals, including hole PLS17-557 (line 1530W), which returned 3.12% U3O8 over 8.5m in 1.24% U3O8 over 27.5m and 5.15% U3O8 over 2.0m in 1.71% U3O8 over 9.0m.”

“We are impressed with the assay results, and believe that the R1515W zone could be a source of significant potential moving forward,” Ihle wrote. “In addition, we highlight that only 2 of the 5 zones at PLS (R00E and R780E) are included within the current Triple R deposit resource estimate, suggesting that the upcoming resource estimate has the potential to impact current resources meaningfully.”

Ihle also noted that mineralization on the trend “was extended 120 meters west of the R1515W zone,” and stated that the company “views the corridor as a prospective area that hosts high- grade uranium further along the trend to the west approaching the high-grade boulder field. Due to these encouraging results, the company intends to continue exploring this prospective high-grade area as part of its summer drilling program.”

Rodman & Renshaw views PLS as an “attractive long-term economic asset,” Ihle wrote. “Although uranium prices remain subdued, we continue to view PLS as a world class development stage project that should continue to provide investors with some shelter from the current uranium price environment. Given that PLS is a non-producing asset, Fission is not forced to sell uranium into a weak market and may continue to stockpile resources until prices improve.”

Rodman & Renshaw has a $1.70 per share price target on Fission Uranium. The stock is currently valued at $0.43 per share.

In conclusion, Ihle stated, “We continue to view Fission as a potential takeover target and believe shareholders should remain insulated from current uranium prices due to the fact that PLS is a non-producing asset.”

Want to read more Energy Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles with industry analysts and commentators, visit our Streetwise Articles page.

Disclosure:
1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) Fission Uranium Corp. is a sponsor of Streetwise Reports. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Additional Disclosures for this Content

Disclosures from Rodman & Renshaw, Fission Uranium Corp. Company Update, June 6, 2017

I, Heiko F. Ihle, CFA , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst’s household has a financial interest in the securities of Fission Uranium Corp. (including, without limitation, any option, right, warrant, future, long or short position).

As of May 31, 2017 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Fission Uranium Corp.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did not receive compensation from Fission Uranium Corp. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in Fission Uranium Corp. as of the date of this research report.

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

The Harsh Truth About Gold

The Harsh Truth About Gold

By WallStreetDaily.com Is gold dead? Over the last three years, the SPDR Gold Shares ETF (GLD) has lollygagged in a sideways direction. I’d honestly rather watch paint dry than analyze a gold chart. Given such an uninspired performance, I don’t believe that gold warrants a major weighting in your portfolio. Of course, my assertion above […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php