Fission Energy and its limited partner Korea Waterbury Uranium Limited Partnership (Waterbury Consortium) will begin their winter exploration program at Waterbury Lake, Athabasca Basin in Canada.
The program will include 22,000m of drilling with three drills, at the flagship 40,256ha Waterbury Lake uranium project.
In addition to continued drilling at the nearby J-East and Highland targets, the core focus will be to build on the success of the J-Zone unconformity high grade uranium discovery made in 2010.
The J-Zone high grade uranium discovery currently consists of an area 120m X 50m wide as defined by 28 closely spaced drill holes, most of which were vertically drilled, and is open laterally in all directions.
In addition, exploration drilling is planned at newly identified high priority targets to the west of the J-Zone along the prospective 3km long Discovery Bay East-West Corridor, and at Oban, which parallels the Discovery Bay Corridor 3 km to the north.
Geophysical work will be initiated at the Murphy Lake and Glen areas, located on the northwest part of the property.
For the winter 2011 exploration program, CAD7.9m budget has been approved by the limited partnership.
Fission is the operator of the program, which is expected to be completed by early mid- April.
Fission Energy and the Waterbury Consortium have budgeted CAD30m for exploration at Waterbury Lake over a three year period from 2010-2012.