F3 Begins First Hole of Step Out Drilling at PLN
F3 Begins First Hole of Step Out Drilling at
PLN
Kelowna, British Columbia--(Newsfile Corp. - June 12, 2023) -
F3 Uranium Corp.
(TSXV: FUU)
(OTCQB: FUUFF)
("
F3
" or "
the Company
") is pleased to announce that the summer drilling program
at its 100%-owned Patterson Lake North ("PLN") project has begun. The extensive summer program will
expand on the successful winter program with one drill continuing JR Zone step-out drilling and a second
drill exploring for new zones of mineralization. F3 will also conduct an airborne electromagnetic
geophysical survey over the majority of property to develop new exploration drill targets.
Raymond Ashley, President, commented:
"We are very glad that the summer program is underway. The technical team is not only eager to
continue to establish the size potential of the JR zone, the newest high grade uranium discovery in the
Athabasca Basin, but also excited that the scope of the summer program includes exploration drilling for
new zones of uranium mineralization as well as property-wide geophysical exploration to develop new
exploration drill targets."
The winter program defined the JR Zone to a current strike length of 105m and established strong
continuity of high grade uranium mineralization towards the south where drill hole PLN23-060, collared
60m away from the discovery hole, intersected high grade mineralization over significant widths in
basement rocks (see Press Release Dec 21, 2022), with a
14.5m interval averaging 9.4% U
3
O
8
(from 238.5m to 253.0m)
including an ultra-high grade 5.0m interval averaging 26.7% U
3
O
8
(see
Press Release April 17, 2023). The two holes drilled furthest to the south of the discovery hole, 75m and
90m respectively, intersected the ultra-high-grade core with individual samples returned in excess of
20.0% U
3
O
8
.
The primary objective of the summer program will be to further extend the mineralized strike length of the
JR Zone through step-out drilling, particularly to the south, as well as to expand the JR Zone towards the
Athabasca Unconformity. Exploration holes will also be drilled to test for unconformity or sandstone
hosted mineralization, and to explore for new zones of mineralization along the A1 Main Shear Zone, the
structure which hosts the JR Zone and which extends ~4km to the southeast, targeting areas of
anomalous geochemistry from the previous drilling by F3. The second diamond drill and second sonic
drill are scheduled to commence in early July. The modern airborne electromagnetic survey to be flown
this summer over the southern two thirds of the property, where there is currently only historic airborne
electromagnetic data, stands to resolve conductors not recognizable in the historic data sets. Any newly
identified conductors can be detailed with ground geophysics in the future and upgraded to exploration
drill targets.
About Patterson Lake North:
The Company's large 39,946-hectare 100% owned Patterson Lake North property (PLN) is located just
within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and
NexGen Energy's Arrow high-grade uranium deposits, an area which is poised to become the next major
area of development for new uranium operations in northern Saskatchewan. PLN is accessed by
Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located
23km northwest of Fission Uranium's Triple R deposit.
Qualified Person:
The technical information in this news release has been prepare 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 16 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 the 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 because 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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/169560