![]() Fission will use the proceeds from the Facility to fund development of the Patterson Lake South uranium project (the “Project”) and for general working capital purposes. Fission announces the closing of a US$10 million credit facility with Sprott.In that case, the large upfront CapEx will become less of an obstacle towards project funding. My view is that if the Company can successfully grow the resource further which appears highly likely then the NPV can substantially improve as the mine life would be extended out towards 20 years plus. While both options remain viable, the upcoming Feasibility Study will focus on the best option, most likely the underground only scenario.” “Both studies presented strong results, including low OpEx, fast payback and strong IRR, which highlight the potential for highly economic production at PLS. Operating costs were estimated at C$9.57/lb U 3O 8 over a 7 year mine life. Underground-only mine PFS – Post-tax NPV8% of C$702 million, post-tax IRR of 25%, initial CapEx of C$1,177 million.Operating costs were estimated at C$9.03/lb U 3O 8 over an 8.2 year mine life. Hybrid approach (Open pit & underground) PFS – Post-tax NPV8% of C$693 million, post-tax IRR of 21%, initial CapEx of C$1,499 million.In 2019, the Company released results of two PFS studies. The Triple R Pre-Feasibility Study (PFS) results The Triple R Deposit, underground mine plan The deposit, which is part of a 3.18km mineralized trend at PLS, remains open in several directions.” “The Triple R deposit is the only high-grade deposit in the entire Athabasca Basin region with substantial high-grade mineralization starting just 50m from surface. The Triple R deposit remains open, and the PLS property has untapped exploration potential as ~80% of the property is yet to be explored. U 3O 8 Inferred Mineral Resource, based on 1,221,000 tonnes at an average grade of 1.22% U 3O 8. U 3O 8 Indicated Mineral Resource, based on 2,216,000 tonnes at an average grade of 2.10% U 3O 8. The Triple R Resource estimate is as follows: Fission has also discovered two other major, high-grade zones and has outlined the largest mineralized trend in the region.Īctually the Triple R Deposit is made up of not 3, but 5, mineralized uranium deposits.įission Uranium’s Triple R Deposit and uranium Resource estimate The Triple R deposit is the most significant high-grade, near-surface project in the region. The Triple R Deposit (the main deposit so far discovered on the PLS property) The Patterson Lake South (PLS) property is situated in the high uranium grade Athabasca Basin region in Canada The property is accessible by all-weather Highway 955 which runs right through the middle of the property. The PLS property comprises 17 mineral claims totaling 31,039 ha located on the southwest margin of the Athabasca Basin. The Company has the strategic backing of China’s CGN Mining, which has invested over $82 million in Fission, at a substantial premium, in early 2016. ![]() owns the award winning, high-grade, and near-surface Triple R uranium deposit on its 100% owned Patterson Lake South (PLS) property, located in Canada’s Athabasca Basin, home to the world’s richest uranium mines.
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