F3 Hits 66.8% U3O8 over 0.5m within 42.4% over 2.0m at JR
F3 Hits 66.8% U3O8 over 0.5m within 42.4%
over 2.0m at JR
Kelowna, British Columbia--(Newsfile Corp. - February 12, 2024) -
F3 Uranium Corp
(TSXV: FUU)
(OTCQB: FUUFF)
("
F3
" or "
the Company
") is pleased to announce final assay results from the fall
2023 drill program, including PLN23-110 (see NR dated December 18, 2023) which returned
2.0m of
42.4% U
3
O
8
from 226.0m to 228.0m, including
1.5m averaging 55.4% U
3
O
8
with a highest grade of
66.8% U
3
O
8
in a single 0.5m sample. PLN23-112, drilled from line 060S returned
11.5m averaging
2.00% U
3
O
8
from 229.0m to 240.5m including
3.5m averaging 4.24% U
3
O
8
.
Sam Hartmann, VP Exploration, commented:
"PLN23-110 returned ultra-high grade assays, including the highest assay to date - 66.8% U
3
O
8
on
section 015S, which remains open in the up-dip direction. At the B1 area, where we initially targeted the
B1 EM conductor, significant alteration in sandstone and basement rocks was encountered (see NR
dated December 18, 2023) and we are pleased to receive final geochemistry supporting our decision to
drill a wide fence with 4 drill holes across approximately 250m of geology. Anomalous basement
uranium values were intersected, notably in PLN23-105 with up to 137 ppm uranium; values of greater
than 100 ppm uranium have previously only been encountered in PLN14-019 and immediately
surrounding holes, as well as within the JR Zone itself."
The Company is also pleased to announce that it has completed a technical report for its Patterson Lake
North (PLN) Project, including the PLN, Broach and Minto properties, pursuant to National Instrument 43-
101 "Standards of Disclosure for Mineral Projects" ("NI 43-101"). The report was completed by lead
consultant SLR International Corporation ("SLR") with an effective date of November 20, 2023, prepared
for F3 Uranium Corp. and dated January 25, 2024. The report will be filed on SEDAR within 45 days.
Assay Highlight:
PLN23-110 (line 015S):
mineralized intervals
2.5m @ 0.23% U
3
O
8
(217.0m to 219.5m), and
2.0m @ 42.4% U
3
O
8
(226.0m to 228.0m), including
1.5m @ 55.4% U
3
O
8
(226.0m to 227.5m), further including
0.5m @ 66.8% U
3
O
8
(227.0m to 227.5m)
Main JR Zone Intercepts:
PLN23-101 (line 015S):
mineralized intervals
11.5m @ 0.39% U
3
O
8
(218.5m to 230.5m), including
1.5m @ 1.77
%
U
3
O
8
(222.5m to 224.0m), and
1.5m @ 2.64% U
3
O
8
(227.5m to 229.0m)
PLN23-106 (line 120S):
mineralized interval
0.5m @ 0.07% U
3
O
8
(240.5m to 241.0m)
PLN23-108 (line 030S):
mineralized intervals
0.5m @ 0.24% U
3
O
8
(256.5m to 257.0m), and
0.5m @ 0.67% U
3
O
8
(260.5m to 261.0m)
PLN23-109 (line 015S):
mineralized interval
2.5m @ 0.33% U
3
O
8
(221.0m to 223.5m)
PLN23-112 (line 060S):
mineralized intervals
8.0m @ 1.03% U
3
O
8
(229.0m to 237.0m), including
0.5m @ 13.2% U
3
O
8
(232.0m to 232.5m), and
3.5m @ 4.24% U
3
O
8
(237.0m to 240.5m), including
0.5m @ 20.0% U
3
O
8
(238.0m to 238.5m)
PLN23-114 (line 030S):
mineralized intervals
3.0m @ 0.05% U
3
O
8
(219.5m to 222.5m), and
1.5m @ 0.64% U
3
O
8
(230.5m to 232.0m), and
0.5m @ 0.11% U
3
O
8
(235.5m to 236.0m)
Exploration Drilling Highlights:
PLN23-102 (line 3450S), B1 Area:
0.5m @ 79 ppm uranium (411.5m to 412.0m) in basement
PLN23-105 (line 3450S), B1 Area:
7.5m @ 48 ppm uranium (528.5m to 535.0m) in basement, including
0.5m @ 137 ppm uranium (531.5m to 532.0m)
PLN23-111 (line 3450S), B1 Area:
3.5m @ 1,198 ppm boron (357.5m to 361.0m) in sandstone, including
0.5m @ 2,770 ppm boron (357.5m to 358.0m)
Table 1. Drill Hole Summary and Uranium Assay Results
Collar Information
Assay Results
Hole ID
Grid
Line
Easting
Northing
Elevation
Az
Dip
From
(m)
To
(m)
Interval
(m)
U
3
O
8
weight
%
PLN23-101
015S
587732.5
6410748.2
545.3
54.6
-64.9
218.50
222.50
4.00
0.22
222.50
224.00
1.50
1.77
224.00
227.50
3.50
0.28
227.50
229.00
1.50
2.64
229.00
230.00
1.00
0.26
PLN23-102
3450S
589712.2
6407939.1
540.0
53.1
-65.6
B1 exploration; no mineralization >0.05
PLN23-103
045S
587780.7
6410746.1
545.7
54.5
-60.3
no mineralization >0.05
PLN23-104
105S
587729.0
6410634.5
545.2
54.4
-60.6
no mineralization >0.05
PLN23-105
3450S
589764.9
6407978.1
540.4
53.3
-65.0
B1 exploration; no mineralization >0.05
PLN23-106
120S
587761.4
6410639.4
544.4
54.3
-64.1
240.50
241.00
0.50
0.07
PLN23-107
3450S
589673.7
6407913.1
539.9
55.0
-65.2
B1 exploration; no mineralization >0.05
PLN23-108
030S
587682.1
6410692.8
545.1
53.6
-60.3
256.50
257.00
0.50
0.24
260.50
261.00
0.50
0.67
PLN23-109
015S
587739.0
6410762.5
545.5
54.7
-74.9
221.00
223.50
2.50
0.33
PLN23-110
015S
587733.4
6410749.2
545.5
53.3
-61.8
217.00
219.50
2.50
0.23
226.00
228.00
2.00
42.4
incl
226.00
227.50
1.50
55.4
PLN23-111
3240S
589638.6
6408148.6
535.5
55.2
-65.2
B1 exploration; no mineralization >0.05
PLN23-112
060S
587748.7
6410702.1
545.7
53.3
-65.5
229.00
232.00
3.00
0.33
232.00
232.50
0.50
13.2
232.50
237.00
4.50
0.14
237.00
240.50
3.50
4.24
incl
238.00
238.50
0.50
20.0
244.50
245.00
0.50
0.05
PLN23-113
930S
588352.9
6410068.3
532.9
52.8
-65.0
A1 exploration; no mineralization >0.05
PLN23-114
030S
587736.8
6410733.3
545.5
54.8
-58.1
219.50
222.50
3.00
0.05
230.50
232.00
1.50
0.64
235.50
236.00
0.50
0.11
PLN23-115
2955S
589548.1
6408433.1
530.8
42.9
-67.9
B1 exploration; no mineralization >0.05
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.
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".
All depth measurements reported are down-hole and true thickness are yet to be determined.
About Patterson Lake North:
The Company's 4,078-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 world class uranium deposits 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. The PLN property is part of the PLN Project which also
includes the Minto and Broach properties.
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 18 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
See plan maps below and cross sections at
PLN JR Zone| F3 Uranium Corp.
under Sections.
Figure 1 - Patterson Lake North Fall 2023 Drill Program Update: Assay Results
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Figure 2 - Patterson Lake North Fall 2023 Drill Program Update: JR Zone Assay Results
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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/197577