VANCOUVER (miningweekly.com) – Junior explorer Fission Uranium has reported an increase of about 30% in the total compliant indicated and inferred resources at its flagship Triple R deposit, in North-Western Saskatcewan.
The Kelowna, British Columbia-based company on Tuesday said the resource estimate for the Triple R deposit now spans the R1515W, R840W, R00E, R780E and R1620E zones, and essentially doubled the inferred resource by some 95%, while the amount of pounds of uranium in the indicated resource rose 8%.
TSX-listed Fission noted that the increase in the indicated resource is mainly owing to infill drilling on the R780E zone, while the increase in the inferred resource is attributable to the discovery and delineation of the R1620E, R840W, and R1515W zones.
Importantly, Fission highlighted that the significant increase in the overall resource has been achieved with discreet spending during the last three years of low uranium prices.
The Triple R deposit is now estimated to contain 87.76-million pounds of uranium oxide (U3O8) in the indicated resource category, based on 2.19-million tonnes grading on average 1.82% U3O8, and includes the R780E high-grade zone that holds 48.25-million pounds U3O8 within 119 000 t, at a grade of 18.39% U3O8.
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