Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South (PLS) uranium property in Canada's Athabasca Basin district, home to the world's richest source of high-grade uranium. The PLS property is host to the class-leading Triple R uranium deposit. Fission is headquartered in Kelowna, British Columbia.
Management's goal is to grow shareholder value through further advancement of the Triple R deposit on a path to development and production and continued exploration at the large and highly prospective PLS project.
Patterson Lake South (PLS) Uranium Project
The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, currently under active exploration and development.
PLS property has over 100 EM conductors and multiple exploration hotspots. Triple R deposit associated with just one of these EM conductors.
Triple R uranium Deposit
Five separate mineralized zones (R1515W, R840W, R00E, R780E and R1620E) over a 3.2 km strike (drill defined) mineralized system
Fission Uranium Corp. owns a 100% interest in the advanced, high-grade and near-surface Triple R uranium deposit, located on the south-western edge of Canada's Athabasca Basin.
The Triple R deposit is part of a 3.2 km mineralized trend on the Patterson Lake corridor. This mineralized trend is the longest lateral footprint in the Athabasca district and is hosted entirely within Fission's large-scale PLS property.
Fission's highly successful, dual strategy at PLS over the past several years has enabled the Company to explore for new mineralization while advancing developing the core part of the deposit to prefeasibility. High-grade zones have been discovered in both directions along trend of the main R780E zone and have been added to the overall resource estimate.
In 2019, the Company released results of two prefeasibility studies – one outlining a hybrid approach (combining open pit and underground techniques) and one outlining an underground-only mine plan. Both studies presented strong results, including low OPEX, fast payback and strong IRR, which highlight the potential for highly economic production at PLS. While both options remain viable, the upcoming feasibility study will focus on the best option, most likely the underground only scenario.
Advantage of Underground Scenario vs Hybrid Open-Pit / Underground Scenario
The Company has the strategic backing of China's CGN Mining, which has invested over $82M in Fission, at a substantial premium, in early 2016.
Fission's CEO and Chief Geologist, Ross McElroy, has led the Company's multi-discipline team to success with two major uranium discoveries in past decade. For his role in making the PLS discovery, he was awarded the PDAC 2014 Bill Dennis award and, jointly with Fission's former CEO, Dev Randhawa, won The Northern Miner's “Mining Person of the Year 2013”, EY Entrepreneur of the Year (Finalist) and The Mining Journal's “Excellence” Award. Leading mining publication, The Mining Journal, has called PLS the world's top undeveloped uranium asset.
Fission's regulatory and environmental permitting process is overseen by Mark Wittrup, MSc., P.Eng., P.Geo., CMC. Mr. Wittrup has 40 years of experience in the uranium sector and specializes in environmental and regulatory work.
Management and Directors
Ross McElroy, CEO, Chief Geologist, Director
Mr. McElroy is a professional geologist with over 30 years of experience in the mining industry. He is the winner of the Prospectors Developers Association of Canada 2014 Bill Dennis award for exploration success and the Northern Miner mining person of the year 2013. He has comprehensive experience with managing and advancing many types of mineral projects from grassroots exploration to feasibility and production. He has overseen two major uranium deposit discoveries including the world-class Triple R deposit.
Raymond Ashley, VP Exploration
Mr. Ashley has worked in the mineral exploration industry for more than 30 years. Since 2009, he has been an independent consulting geoscientist and was a member of the Fission Energy team responsible for the high grade uranium J Zone discovery at Waterbury Lake and later with Fission Uranium's Triple R discovery.
Ryan Cheung, CFO Corporate Secretary
Mr. Cheung provides accounting, management, securities regulatory compliance services to private and public-listed companies. Mr. Cheung also serves as an officer and/or director of a number of public-listed companies.
Darian Yip, Independent Chairman and Director
Mr. Yip has over 18 years of experience in the financial services industry and has been focused on the metals and mining sector for the past 13 years.
William Marsh, Director
Frank Estergaard, Director
Robby Chang, Director
He Fei, Director
Shiming Ma, Director
On September 8, 2020, Fission Uranium Corp. announced a change in senior management and Board of Directors as the Company focuses on developing the world-class Triple R uranium deposit located in Canada's Athabasca Basin.
The Company has appointed Ross McElroy as the chief executive officer of the Company. Mr. McElroy replaces Devinder Randhawa, who has elected to retire from management and the board of directors of the company and has moved to its advisory board. Fission has also appointed Darian Yip as its independent chairman.