Macusani Project

Key Points of Interest

Macusani, Peru, is an emerging uranium district in a mining-friendly jurisdiction. The area is host to multiple uranium deposits (Plateau Uranium) that are large scale, very near-to-surface and potentially heap-leachable - giving them a strong economic case. The region also has several near-surface lithium deposits.

As an early explorer in the region, Fission’s predecessor, Fission Energy, was able to acquire highly strategic locations with very prospective geology. These claims have seen two rounds of recent, successful drilling.

    • 2016 drilling resulted in 13 of 16 holes being mineralized:
      • High-grade uranium of up to 12,151 ppm over 0.5m at just 16m from surface (hole MAC16-016), equivalent to 1.2103% U3O8
      • Lithium of up to 533 ppm over 0.5m (hole MAC16-009)
    • Mineralized zones found through prospecting are on trend with the Plateau Uranium Inc. Corachapi (5 Mlbs measured and indicated) and Corani (1.25 Mlbs U3O8 indicated) deposits. Both deposits are less than 5 km from Fission 3.0 concessions.
    • Seven mineralized trends up to 1.5 km long identified on the property to date, with sample assay highs of 19.12% uranium.
    • In addition to identifying significant uranium resources, the Macusani region is also highly prospective for lithium. Of note, Plateau Uranium's Macusani projects, which are adjacent to Fission 3's projects are host to substantial quantities of Lithium within several uranium deposits, specifically: resources of 52.3Mt at 0.13% containing 67,000t Li2O (Indicated) and 87.7Mt at 0.12% containing 109,000t Li2O (Inferred). Fission 3 believes that its ground is similarly prospective to host anomalous lithium and samples from Fission 3's drill program will also include assaying for lithium.

    The Macusani property is located within southeastern Peru. Fission 3.0 Corp. holds the rights to 9 claim blocks encompassing 5,100 ha, and surface rights over some of the areas with known uranium mineralization. Originally staked by Fission Energy, the property became part of the Fission 3.0 Corp. portfolio as part of the Fission Uranium/Alpha Minerals agreement in December 2013.

    The Macusani claims are easily accessed by a series of paved roads from the City of Puno to the town of Macusani, which connects to the Interoceanic Highway, a two-lane, paved highway that passes 14km north-east of the Macusani Claims. Elevations in the area range from 3800 to 4700m above sea level and relief is typical of high plain mesa type topography, flat plains with steep rugged valley sides that drop to flat gentle valley bottoms. 

  • In 1975, the uranium and nuclear activities in Peru were placed under the control of the Instituto Peruano de Energia Nuclear (IPEN). A five year exploration plan (1976-1981) was initiated with the aim of identifying and developing resources in the country. The Macusani East area was the most studied area in southern Peru by IPEN.

    From mid-1977, a long term United Nation Development Programme/International Atomic Energy Agency (UNDP/IAEA) project was initiated consisting of regional reconnaissance over selected areas. A significant discovery was made near Macusani in volcanic and interbedded sediments of the Upper Tertiary age Macusani volcanics and the Permian age Mitu Group (Young, 2013). This and other discoveries concentrated exploration in the area.

    Preliminary exploration fieldwork was done by Dahrouge Geological Consulting Ltd. on behalf of Strathmore Minerals Corp. on the Macusani uranium property during May and June of 2005.  During this time several trends of uranium enrichment were traced across the Macusani property.  Additionally, regional surveying found zones of enrichment outside of the historical area of uranium enrichment. Whole rock assays returned maximum assay values of up to 2000ppm uranium.

    In 2008 an agreement was made with the community of Isivilla to explore several of the Macusani mining concessions. Exploration work included geologic mapping, radiometric measurements, and geochemical sampling in order to locate potential drill targets and support more detailed research within the concessions.

    In 2014, the results of a Fission 3.0 exploration program included identification of seven mineralized trends by scintillometer survey, 21 rock samples assaying between 5.2% and 19.12% uranium, 52 scintillometer stations greater than 1000 cps, and seven 20m trenches completed over the mineralized trends with confirmed mineralization to a depth of 2m.

    Further prospecting from May-July 2015 included 278 kilometres of geological traverse, 98 lithogeochemistry samples, and 5 trenches. The program focused on 6 target areas in the eastern section of the property. Target 5A was the most significant with results indicating a 1.5 kilometre intermittently mineralized trend with an assay high of 20.76% uranium. Other targets returned up to 3.46% uranium from sampling.

    These prospecting programs identified two priority target areas termed Llama North and Llama South, which are on trend with the Plateau Uranium Inc. Corachapi and Corani uranium deposits. During summer 2016 a 16 hole diamond drilling program tested both of these targets. Drilling intersected uranium mineralization of up to 12,151 ppm U3O8 (1.21% U3O8) just 16.0m from surface (hole MAC16-016) and lithium mineralization of up to 533 ppm (hole MAC16-009). Thirteen of sixteen holes were mineralized and all mineralization was encountered near to or at surface.

Qualified Person: The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. President and COO for Fission 3.0 Corp., a Qualified Person.

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