F3 and Traction Begin Drilling to Locate Source of Radioactive Boulders A sonic drill has arrived on site to complete a 2,000-metre program, searching for the source of the Isle Brochet radioactive boulders, grading up to 8.23% U3O8.
F3 and Traction Begin Drilling to Locate
Source of Radioactive Boulders
A sonic drill has arrived on site to complete a 2,000-metre
program, searching for the source of the Isle Brochet
radioactive boulders, grading up to 8.23% U3O8.
Kelowna, British Columbia--(Newsfile Corp. - March 8, 2024) -
F3 Uranium Corp
(
TSV: FUU
)
(
OTCQB: FUUFF
) ("
F3
" or "
the Company
") is pleased to announce that the 2024 winter drill program
at the Hearty Bay project is underway with the arrival of the Boart Longyear drill crew on site.
The
program is designed to find the source of glacially dispersed uraniferous boulders and anomalous till
geochemistry samples on Isle Brochet. The glacially dispersed material in combination with the recently
completed gravity survey provides new, reliable targets for the program that were not tested in previous
and historic drill programs.
A total of approximately 2,000 metres of drilling is planned using a Boart Longyear sonic drill that can
recover and sample both overburden and bedrock. This is anticipated to trace anomalous overburden
under the lake to the proposed source areas, which may be defined by one of the gravity low targets
defined by this winter's survey (see Figure 1).
The program should be completed by the end of March,
dependant on ice conditions.
Figure 1
Map Showing New Targets Up-Ice of the Isle Brochet Uranium Boulder Trains
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/200930_4c52026134f7b967_002full.jpg
Boart Longyear is the drill contractor, geomorphology experts are provided by Palmer Geotechnical
Consultants Inc., while F3 Uranium Corp is the program operator; technical guidance will be given by
Rock U Consulting (Ken Wheatley), Technical Advisor to Traction Uranium.
About Hearty Bay:
The Hearty Bay property comprising 7 contiguous mineral claims with an area of 11,173 ha. is located
on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac uranium deposit and 60 km
east of the Beaver Lodge uranium district. The property surrounds the historic Isle Brochet high grade
boulder field, consisting of the Wolfe and Jackfish 1km long dispersal trains trending in a down-ice
direction and containing reported historic assay values up to 3.54% uranium. Approximately 600m to the
northeast of the lake bottom a group of radioactive boulders were discovered reported to contain up to
1.4% U3O8. These boulders were both sandstone and altered basement rocks which was interpreted to
indicate that the mineralized source was at or near the unconformity. The source of the boulders remains
undetermined.
Prospecting work conducted by Fission 3 in 2019 on the historic Wolfe and Jackfish boulder fields at Isle
Brochet identified and sampled 45 new occurrences of mineralized sandstone and basal conglomerate
boulders, returning assay values of up to 8.23% U3O8 with over 24% of them >1% U3O8. The sandstone
and conglomerate lithologies suggests the source originates at or near the Athabasca Sandstone -
Basement unconformity, and likely nearby. This suggests that the Athabasca Basin margin represents a
high-priority focus for exploration for the source.
Traction Uranium Corp. will sole fund the drill program for its exploration expenditures on the property to
reach $3 million and thereby earning a 50% interest in the property. Traction has the option to acquire up
to a 70% interest in the Hearty Bay Project by completing an additional $3 million in exploration work on
the Hearty Bay Property by the end of 2025.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by
Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has
verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium project generator and exploration company, focusing on projects in the
Athabasca Basin, home to some of the world's largest high grade uranium discovery. F3 Uranium
currently has 17 projects in the Athabasca Basin. Several of F3's projects are near large uranium
discoveries including Triple R, Arrow and Hurricane.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable
securities laws. All statements that are not historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions,
expectations or beliefs of future performance, including statements regarding the suitability of the
Properties for mining exploration, future payments, issuance of shares and work commitment funds,
entry into of a definitive option agreement respecting the Properties, are "forward-looking statements."
These forward-looking statements reflect the expectations or beliefs of management of the Company
based on information currently available to it. Forward-looking statements are subject to a number of
risks and uncertainties, including those detailed from time to time in filings made by the Company with
securities regulatory authorities, which may cause actual outcomes to differ materially from those
discussed in the forward-looking statements. These factors should be considered carefully and readers
are cautioned not to place undue reliance on such forward-looking statements. The forward-looking
statements and information contained in this news release are made as of the date hereof and the
Company undertakes no obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required by
applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or
disapproved the contents of this press release, and do not accept responsibility for the adequacy or
accuracy of this release.
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email:
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
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