As you know, Azincourt entered into a property option agreement with Fission Uranium on April 29, 2013 allowing us to earn up to a 50-per-cent interest in Fission’s Patterson Lake (PLN) project. The right joint venture can be a superb way of combining teams and resources in order to maximize the end result. With that in mind, I’d like to focus on our JV partner in this post.
Fission Uranium is the spin out company from Fission Energy, which in turn was spun out from Strathmore Minerals. Dev Randhawa, possibly one of the most successful CEO’s in the uranium exploration space was responsible for founding all three companies.
With the level of market awareness Fission Uranium has built, you would think that the company has been in business for some time. In fact, the company spun
into existence at the end of April this year. The reason for all the attention are the incredible results coming out of their major discovery at Patterson Lake South (PLS). The grades are so high and the intersections so wide that David Talbot, one of the best-known analysts in the uranium space, recently noted that PLS has become a focal point for the whole sector.
You might find it interesting to read a recent interview with Fission’s Chief Geologist, President and COO, Ross McElroy, as he describes the discovery, his background and his team in some detail. The background of the Fission team – particularly their Chief Geologist – is particularly relevant because Fission will be the operator at PLN. Like me, Mr. McElroy spent years with the majors, including Cameco, before moving to the juniors. He has been instrumental in four of the last nine major discoveries in the Athabasca Basin and two of those occurred while working with his current geo team.
That level of success doesn’t occur by chance. The Fission technical team is as high-end as they come and I for one am looking forward to working with them as we start taking PLN forward.
Ted O’Connor, Azincourt Uranium CEO
