F3 Hits 57.6% U3O8 Over 1.0m within 9.4% over 14.5m in 60m Step-out from A1 Discovery
F3 Hits 57.6% U3O8 Over 1.0m within 9.4%
over 14.5m in 60m Step-out from A1 Discovery
Kelowna, British Columbia--(Newsfile Corp. - April 17, 2023) -
F3 Uranium Corp
(
TSV: FUU
)
(
OTCQB: FUUFF
) ("
F3
" or "
the Company
") is pleased to announce initial assay results from 12 drill
holes, including drill hole PLN23-060 at Patterson Lake North (PLN) where the strongest radioactivity to
date was previously reported (see Press Release March 27, 2023).
The analysis for PLN23-060 returned one continuous
14.5m interval averaging 9.4% U
3
O
8
including
an ultra-high-grade 5.0m interval averaging 26.7% U
3
O
8
, which further includes a 2.5m interval
which assayed 45.6%
U
3
O
8
.
Assay results from a total of 12 drill holes from the Winter 2023 drill program are disclosed below in
Table 1, including drill holes PLN23-042 through PLN23-052.
Raymond Ashley, President, commented:
"This first release of assays from the Winter 2023 program at PLN adds confidence to the previously
released scintillometer results, and we are pleased to report on 12 drill holes, 8 of which contain high
grade uranium mineralization. The JR Zone has now been defined over a total strike length of 105m
and remains open particularly along strike to the south and at depth, and up-dip towards the
Athabasca unconformity. PLN23-060, cored 60m grid south from the discovery hole intercepted truly
impressive grades within the A1 main shear zone, with a peak sample grade of 65.2 % U
3
O
8
over
0.5m at a downhole depth of 244.5m."
Drilling Highlights:
PLN23-060
(line 060S): mineralized intervals:
14.5m @ 9.4% U
3
O
8
(238.5m to 253.0m), including:
5.0m @ 26.7% U
3
O
8
(243.0m to 248.0m), further including
2.5m @ 45.6% U
3
O
8
(244.0m to 246.5m)
Main Intercepts:
PLN23-044
(line 015S): mineralized intervals:
1.0m @ 2.27% U
3
O
8
(227.5m to 228.5m), and:
2.5m @ 0.276% U
3
O
8
(233.5m to 236.0m)
PLN23-046
(line 015S): mineralized intervals:
4.0m @ 2.6 % U
3
O
8
(261.0m to 265.0m), including:
1.5m @ 6.5 % U
3
O
8
(263.0m to 264.5m)
PLN23-047
(line 00N): mineralized intervals:
10.0m @ 0.8% U
3
O
8
(199.0m to 209.0m), including:
1.0m @ 3.55% U
3
O
8
(206.0m to 207.0m)
PLN23-048
(line 030S): mineralized intervals:
13.5m @ 5.3% U
3
O
8
(247.0m to 260.5m), including:
4.0m @ 17.3% U
3
O
8
(249.0m to 253.0m)
PLN23-049
(line 015N): mineralized intervals:
7.0m @ 0.62
%
U
3
O
8
(245.5m to 252.5m), including:
2.0m @ 1.24% U
3
O
8
(247.0m to 249.0m)
PLN23-050
(line 045S): mineralized intervals:
15.5m @ 2.1% U
3
O
8
(249.5m to 265.0m), including:
4.0m @ 7.2% U
3
O
8
(252.0m to 256.0m)
PLN23-051
(line 00N): mineralized intervals:
0.5m @ 0.054% U
3
O
8
(209.0m to 209.5m)
PLN23-052
(line 060S): mineralized intervals:
6.5m @ 3.2% U
3
O
8
(249.0m to 255.5m), including:
1.5m @ 12.7% U
3
O
8
(253.0m to 254.5m)
Table 1: Assay Results
Collar Information
Assay Results
Hole ID
Grid Line
Easting
Northing
Elevation
Az
Dip
From (m)
To
(m)
Interval
(m)
U3O8
weight %
PLN23-042
015N
587734.0
6410786.2
546.0
51.6
-75.6
221.50
223.00
1.50
0.228
PLN23-043
00N
587657.4
6410712.2
544.8
52.3
-65.3
265.50
267.00
1.50
0.091
PLN23-044
015S
587724.9
6410743.2
545.4
53.3
-53.8
227.50
228.50
1.00
2.27
233.50
236.00
2.50
0.276
PLN23-045
015N
587674.4
6410742.9
545.5
53.3
-53.8
no mineralization > 0.05% U
3
O
8
PLN23-046
015S
587667.3
6410699.3
544.8
53.7
-56.9
261.00
263.00
2.00
0.286
263.00
264.50
1.50
6.5
264.50
265.00
0.50
0.075
PLN23-047
00N
587771.8
6410794.1
545.4
51.6
-75.6
199.00
206.00
7.00
0.259
206.00
207.00
1.00
3.55
207.00
209.00
2.00
0.79
PLN23-048
030S
587695.2
6410701.5
545.1
54.5
-57.8
247.00
249.00
2.00
0.106
249.00
253.00
4.00
17.3
253.00
260.50
7.50
0.24
PLN23-049
015N
587675.3
6410743.4
545.4
56.3
-55.5
245.50
247.00
1.50
0.220
247.00
249.00
2.00
1.24
249.00
252.50
3.50
0.44
PLN23-050
045S
587703.9
6410690.8
545.1
53.7
-59.2
249.50
252.00
2.50
0.188
252.00
256.00
4.00
7.2
incl.
255.00
255.50
0.50
20.1
256.00
265.00
9.00
0.278
PLN23-051
00N
587773.5
6410795.4
545.6
54.1
-74.1
209.00
209.50
0.50
0.054
PLN23-052
060S
587715.4
6410680.8
545.1
54.0
-61.4
245.50
246.50
1.00
0.162
249.00
253.00
4.00
0.262
253.00
254.50
1.50
12.7
incl.
254.00
254.50
0.50
22.2
254.50
255.50
1.00
0.436
265.50
266.00
0.50
0.077
PLN23-060
060S
587728.7
6410689.6
545.0
54.8
-62.2
231.50
233.00
1.50
0.061
238.50
243.00
4.50
0.394
243.00
248.00
5.00
26.7
incl.
244.00
247.50
3.50
37.1
and
244.00
245.00
1.00
57.6
248.00
253.00
5.00
0.27
Collar Information
Assay Results
Assay composite parameters:
1: Minimum Thickness of 0.5 m
2: Assay Grade Cut-Off: 0.05% U
3
O
8
(weight %)
3. Maximum Internal Dilution: 2.0 m
Composited weight % U
3
O
8
mineralized intervals are summarized in Table 1. Samples from the drill
core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole
intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC
17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference.
Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis
by ICP-OES and/or AAS. All depth measurements reported are down-hole and true thickness are yet to
be determined but the Company estimates true thickness of the reported intervals in this news release to
be close to reported interval widths. The Company considers uranium mineralization with assay results
of greater than 1.0 weight % U
3
O
8
as "high grade" and results greater than 20.0 weight % U
3
O
8
as
"ultra-high grade".
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
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