Fission Energy Corp
Full Fission Energy Corp profile here
Fission Energy Corp. (TSX.V-FIS) is a Canadian based uranium exploration and development company with properties in Saskatchewan's Athabasca Basin, Quebec, and the Macusani District in Peru. The Company's shares were spun-out as a distribution by Strathmore Minerals Corp (TSX.V-STM) in 2007. In 2003-04 Fission assembled one of the largest exploration property portfolios in Saskatchewan's Athabasca Basin; home of the richest uranium deposits in the world. Fission's most valuable exploration asset is the Waterbury Lake KEPCO Consortium Joint Venture., which is located in close proximity to Hathor's Midwest NE discovery ("Roughrider Zone")
Fission Energy sells Wynbring Project uranium rights for A$350,000
Friday, August 13, 2010
Fission Energy (ASX: FIS) has sold its uranium rights over Exploration Licence 4526 (formerly 3306) and in the Wynbring Project on the Gawler Craton in South Australia to Marmota Energy (Asx: MEU) for a cash consideration of $350,000.
Tasman Resources (ASX: TAS) has also sold to Marmota its residual interest in EL 4526 and received 500,000 Marmota shares as consideration, escrowed for 12 months.
The consideration to each party is based on the relative exploration expenditures of Tasman and Fission on EL 4526.
Divestment of Wynbring will allow Fission to focus on nickel sulphide exploration and development of the Mt Thirsty Co-Ni oxide project near Norseman in Western Australia where it kicked off a follow-up Reverse Circulation drilling programme in the vicinity of drill hole MTRC015 yesterday. The hole previously returned 6m @ 3.40% Ni in May.
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