When it comes to delivering consistently positive results in a tough market, Fission Uranium (TSXV:FCU) has certainly delivered. Between the company's 2014 winter drill program, and the 2014 summer drill program, Fission has caught the attention of investors with its high grade results hole after hole. Today's news was no different. Fission's latest news, though seemingly ignored by the market, should also be perceived as a step in the right direction for the company. On Thursday, the uranium junior announced results from from 21 of its 22 regional drill holes at PLS. The results encountered anomalous radioactivity in three new conductors. While it may be too soon to tell, given the company's track record, these results may be worth keeping an eye on as they could form the basis for new discovery areas and additional mineralization at PLS. In a research note to clients, Dundee Capital's David Talbot noted that he wasn't expecting today's news to have much impact of the company's share price, as investors no doubt wait for the highly anticipated mineral resource - due at year's end. However, Talbot does note that "[t]hese intersections of anomalous radioactivity are encouraging" deeming the news "technically positive as it provides further support of a large uranium mineralizing system, decreasing the likelihood that PLS is a stand-alone deposit." As the market digests the company's latest news, trying to determine what to make of it in the grand scheme of things, Talbot suggests that investors "focus on the rocks." Clearly evidenced by its drill results, Fission is indeed hitting the right type of rocks. Speaking with Fission's CEO Dev Randhawa, one of PLS's greatest assets is it's geology, particularly the presence of basement rocks. As Talbot notes, "basement rocks weren't the rage really until the Roughrider discovery about five years ago and expansion at Eagle Point Mine. They weren't as common and thus they weren't a past target - despite being conducive to mining." New exploration techniques, however, now aid in exploration, which have contributed greatly to exploration work at PLS making it "light up like a Christmas Tree."
But that's not all."What makes PLS stand out from this discovery from others," Randhawa told UIN, "is that we are shallow in that our mineralization starts at 50 meters." Indeed, PLS's shallow depth makes it more amenable to open pit mining, which takes away a lot of the complications seen with other companies whose deposits are found significantly below surface. Furthermore, as Randhawa points out, people understand open pit mining, making the project more attractive to the market. While investors await Fission's highly anticipated mineral resource estimate for PLS, the exploration work has determined that PLS has three key features that the market should be excited over. To date, Fission's results show that PLS's uranium mineralization is: shallow, hosted in basement rock, and amenable to open pit mining. Three important factors to consider when determining the viability of a project, particularly in a tough market. Added to that the that the company has been able to show that the mineralization is long, connected, extends north and south. So as the commodities market continues to show weakness, and investors take a break from investing in commodities alongside a strong US dollar, it is important to consider the long term trend. As Talbot writes, Fission, like many of its peers, has been under pressure. And though an initial reaction is to cringe at a negative performance, the savvy investors will see this as a perfect opportunity to gain exposure to a company on the cusp of something big. Fission Uranium: Opportunity in an Undervalued Market from Uranium Investing News