FIS: High-Grade Finds

SIDDHARTH RAJEEV, Fundamental Research Corp. (10/28/2010)
"Drilling at the J-Zone discovery on the company’s 50%-owned Waterbury Lake property has continued to intersect significant intersections of high-grade uranium. To date, 27 holes have been completed at the target delineating continuous mineralization over dimensions of approximately 120 meters by 50 meters. High-grade uranium mineralization continues to be intersected at the unconformity. Mineralization at many of the major deposits in the Athabasca basin, such as Cigar Lake and MacArthur River occurs at the unconformity. Hole WAT10-103 returned some of the best results to date from the property—15.5 meters of 5.55% U3O8, including 2.5 meters grading 32.29%. The J-Zone remains open in all directions. The newly formed limited partnership between Fission and the KEPCO Consortium has decided on a $30 million budget over 3 years to continue exploration and development of the Waterbury Property."

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