Athabasca Uranium Basin a Bonanza for Early Invest

Athabasca Uranium Basin a Bonanza for Early Investors

(I hold a large position in Athabasca Uranium UAX.V / ATURF)

The Athabasca Basin of Saskatchewan, Canada hosts the world's richest uranium deposits. Fission Uranium recently reported a drill interval of 38% U3O8 over 10.5 metres. That is approximately 380 times richer than the world average grade of 0.1% U3O8.

Fission Uranium's stock price has increased 178% in the last 12 months based on the results of a strategic drill program on the Patterson Lake South uranium property.

"Fission drilled before anyone else," states More, "Then came NexGen who had a discovery from its 2014 drill program. Aldrin is next, with a drill program comparable to NexGen's. We control 12,000 hectares on strike to Patterson Lake mineralized trends."

The Forest Lake Fault is a conductive anomaly that extends more than 3.5 kilometers striking east-northeast across the SE block.  The anticline target is a conductive anomaly that extends 2.5 kilometers striking east-northeast.

Multiple drill holes will be used to test both targets. The holes are expected to average about 200 m in depth, although they may be deeper if mineralization is evident.

Major mines in the Athabasca Basin include McArthur River (16.5% U3O8), Maclean Lake (50 million lbs produced), Rabbit Lake (186 million lbs produced), Cigar Lake (22.3% U3O8), Cluff lake (60 million lbs produced).