Positive assays for two new zones on Fission Uranium Corp.'s (FCU:TSX; FCUUF:OTCQX; 2FU:FSE) Patterson Lake South property will result in "building momentum" for the company, according to analyst David Talbot of Dundee Capital Markets.
Assays for "two new basement-hosted zones," R1620E and R840W, returned "high-grade uranium assays" along the PLS trend in the Athabasca Basin, Talbot wrote in a Sept. 26 research report.
In a Sept. 26 press release, the company announced the "assay results confirm new high-grade mineralization at two zones presently outside of the Triple R resource area" and highlight "the strength of 2.63km mineralized trend at PLS—the largest in the Athabasca Basin region."
"Both of these zones occur outside of the current 105.5 MMlbs U3O8 PLS resource boundary. This is positive for a pending resource estimate due in early Q1/17," Talbot wrote. "We expect resources to grow, which may positively impact economics."
The results from both zones were good, but Talbot described "very positive results" from R1620E, including "12.9% U3O8 over 7.5m within a larger interval of 5.76% over 17m."
The analyst also noted that the company is up for three awards at the Mines and Money gala in Toronto, "including CEO, small cap deal, and explorer of the year."
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1) Tracy Salcedo compiled this article for Streetwise Reports LLC. Tracy Salcedo provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, shares 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.
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