F3 Intersects Radioactivity Across Multiple Zones Uncovers Significant and Favorable Reverse Faulting at B1
F3 Intersects Radioactivity Across Multiple
Zones
Uncovers Significant and Favorable Reverse Faulting at B1
Kelowna, British Columbia--(Newsfile Corp. - April 16, 2024) -
F3 Uranium Corp
(TSV: FUU)
(OTCQB: FUUFF)
("
F3
" or "
the Company
") is pleased to announce the completion of the first 30 drill
holes (totaling 12,100 meters) of its 2024 winter drill program. JR Zone has continued to yield high grade
intercepts, such as PLN23-137 which intersected mineralization within a 18.5m interval including
1.25m
of composite off-scale mineralization
(>65,535 cps),
while the Company's focus has expanded to
the discovery of additional mineralized zones along the A1 and B1 structures, with
numerous
radioactive intercepts
along both shears, generating additional drill targets.
Ray Ashley, President, commented: "We are very pleased with the results from this winter's drill
program, and the number of new targets generated along both the A1 and B1 systems. The scale of
reverse faulting in conjunction with related massive graphitic fault structures at B1 was unexpected and
supports our theory that the majority of B1 drilling south of line 2850 may have been in the footwall of this
fault, where intense alteration and frequent radioactive intercepts suggest the presence of a nearby
source. At A1, considerable undrilled gaps remain open for exploration, such as the 800m gap where
hole PLN24-140 was drilled, returning over 11,000 cps on the gamma probe within the shear. With a
large-scale gravity survey underway, in addition to a joint inversion of ground EM and resistivity
geophysics, we continue to develop new targets for the drill program slated to resume in May after a
short pause for seasonal breakup."
A1 Shear Zone
A1, which is host to the high-grade JR Zone, contains several significant undrilled sections: PLN24-140
was collared on line 2325S, within a 800m long area along the A1 with no previous drilling, and
intersected up to 560 cps on the handheld spectrometer, and up to 11,000 cps on the QL40 GRA
gamma probe. Prior to PLN24-140, gamma probe readings greater than 10,000 cps had not been
encountered outside of the JR Zone, resulting in a priority target for the program resumption in May.
B1 Shear Zone
At B1, a total of nine drill holes targeted the intense alteration and structure intersected during the 2023
drill campaign, as these features often occur in close proximity to high grade uranium mineralization.
Five drill holes intersected anomalous radiation over a total strike length of 600m.
Drill hole PLN24-133
targeted an area near the northern end of the B1 shear zone where a significant change in Athabasca
Sandstone depth was expected and encountered a basement wedge in excess of 120m downhole
thickness within the sandstone exhibiting strong alteration and deformation (see Cross Section for line
2850S below). Figure 1 shows the lower structural Athabasca Unconformity at a depth of 291.2m, with
significantly structurally disturbed sandstone beneath. An extremely graphitic structure was intersected
within this wedge (see Figure 2), and in all follow up drilling on section and along strike. Drilling on line
2850S with PLN24-138 and PLN24-142 and step out drilling on line 2820S with PLN24-144 confirmed
that the strike of this very significant offsetting reverse structure appears to be discordant to the B1 main
shear, and likely related to the Harrison fault, a significant regional structure which played an important
role in the development of the Athabasca basin.
This magnitude of displacement along wide and strongly graphitic basement faults is highly favorable,
and structurally comparable to what is seen at some of the largest uranium deposits in the basin. This
now provides a number of drill targets for high grade uranium mineralization including the unconformity
contacts, as well as the basement "nose" at the terminus of the wedge within the sandstone, with a focus
on where the A1 and B1 structures intercept this offsetting reverse fault.
Drilling Highlights
PLN24-137
(line 040S): JR Zone
18.5m
interval with mineralization from 201.0m - 219.5m, including
1.25m composite off-scale radioactivity (> 65,535 cps)
between 214.5m and 216.0m
A1 Radioactive Drilling Intercepts:
PLN24-117
(line 000): JR Zone
8.0m
mineralized interval from 261.0m - 269.0m
PLN24-119
(line 045S): JR Zone
3.5m
mineralized interval from 256.0m - 259.5m,
and
4.0m
mineralized interval from 265.0m - 269.0m
PLN24-128
(line 030S): JR Zone
1.5m
mineralized interval from 216.0m - 217.5m,
and
0.5m
mineralized interval from 271.5m - 272.0m
PLN24-129
(line 015S): JR Zone
0.5m
mineralized interval from 208.0m - 208.5m,
and
5.5m
mineralized interval from 215.0m - 220.5m
PLN24-131
(line 795S): A1 Exploration
0.5m
mineralized interval from 252.5m - 253.0m
PLN24-139
(line 795S): A1 Exploration
0.5m
mineralized interval from 143.0m - 143.5m,
and
0.5m
mineralized interval from 191.0m - 191.5m
PLN24-140
(line 2325S): A1 Exploration
0.5m
mineralized interval from 175.5m - 176.0m,
and
0.5m
mineralized interval from 216.5m - 217.0m
B1 Radioactive Drilling Intercepts:
PLN24-122 (line 3450S):
B1 Exploration
0.5m
mineralized interval from 596.5m - 597.0m
PLN24-135 (line 3240S):
B1 Exploration
0.5m
mineralized interval from 380.5m - 381.0m,
and
2.5m
mineralized interval from 387.0m - 389.5m,
and
0.5m
mineralized interval from 642.0m - 642.5m
PLN24-138 (line 2850S):
B1 Exploration
0.5m
mineralized interval from 473.0m - 473.5m,
and
2.0m
mineralized interval from 533.5m - 535.5m
PLN24-141 (line 3240S):
B1 Exploration
0.5m
mineralized interval from 464.0m - 464.5m, and
0.5m
mineralized interval from 546.0m - 546.5m
PLN24-142 (line 2850S):
B1 Exploration
0.5m
mineralized interval from 319.0m - 391.5m
Natural gamma radiation in the drill core that is reported in this news release was measured in counts
per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers
greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and
greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly
or uniformly related to uranium grades of the rock sample measured and should be used only as a
preliminary indication of the presence of radioactive materials. Samples from the drill core are split in
half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for
lithogeochemical analysis using their "Uranium Package."
All depth measurements reported are down-hole and true thicknesses are yet to be determined.
Table 1. Drill Hole Summary and Handheld Spectrometer Results
Collar Information
* Hand-held Spectrometer Results On
Mineralized Drillcore (>300 cps / >0.5m
minimum)
Athabasca
Unconformity
Depth (m)
Total
Drillhole
Depth (m)
Hole ID
Section
Line
Easting
Northing
Elevation
Az
Dip
From
(m)
To
(m)
Interval
(m)
Max CPS
PLN24-117
000
587655.7
6410710.8
544.7
54.1
-54.4
261.00
261.50
0.50
310
221.7
329.0
261.50
262.50
1.00
<300
262.50
263.00
0.50
410
263.00
263.50
0.50
450
263.50
264.00
0.50
570
264.00
264.50
0.50
1000
264.50
265.00
0.50
1900
265.00
265.50
0.50
320
265.50
266.00
0.50
310
266.00
266.50
0.50
<300
266.50
267.00
0.50
3100
267.00
267.50
0.50
810
267.50
268.00
0.50
470
268.00
268.50
0.50
<300
268.50
269.00
0.50
320
PLN24-118
3240S
589686.9
6408181.3
534.7
54.0
-70.7
B1 MSZ Exploration; no radioactivity >300 cps
351.9
632.0
PLN24-119
045S
587688.1
6410678.8
545.3
54.2
-62.1
256.00
256.50
0.50
370
n.a.
326.0
256.50
257.00
0.50
1300
257.00
257.50
0.50
670
257.50
258.00
0.50
720
258.00
258.50
0.50
<300
258.50
259.00
0.50
480
259.00
259.50
0.50
380
265.00
265.50
0.50
750
265.50
266.00
0.50
950
266.00
268.00
2.00
<300
268.00
268.50
0.50
320
268.50
269.00
0.50
480
PLN24-120
150S
587778.3
6410614.7
545.6
53.9
-59.8
A1 MSZ exploration; no radioactivity >300 cps
n.a.
302.0
PLN24-121
090N
587651.1
6410818.9
545.4
52.4
-60.2
A1 MSZ exploration; no radioactivity >300 cps
203.2
317.0
PLN24-122
3450S
589879.7
6408062.4
538.4
55.2
-66.0
596.50
597.00
0.50
470
341.8
683.0
PLN24-123
015N
587736.6
6410788.7
545.6
54.9
-65.5
A1 MSZ exploration; no radioactivity >300 cps
n.a.
305.0
PLN24-124
240S
587846.9
6410598.5
546.0
78.6
-66.7
A1 MSZ exploration; no radioactivity >300 cps
158.2
326.0
PLN24-125
090N
587634.3
6410806.6
545.2
51.9
-60.2
A1 MSZ exploration; no radioactivity >300 cps
203.9
359.0
PLN24-126
3555S
589878.4
6407928.7
532.2
55.2
-61.3
B1 MSZ Exploration; no radioactivity >300 cps
353.2
558.5
PLN24-127
045S
587794.4
6410756.0
545.7
54.8
-60.5
A1 MSZ exploration; no radioactivity >300 cps
199.0
302.0
PLN24-128
030S
587749.6
6410742.4
545.7
53.5
-60.4
216.00
216.50
0.50
490
202.0
290.0
216.50
217.00
0.50
2000
217.00
217.50
0.50
3000
271.50
272.00
0.50
300
PLN24-129
015S
587747.0
6410758.9
545.7
54.2
-61.5
208.00
208.50
0.50
300
200.5
322.0
215.00
215.50
0.50
1400
215.50
216.00
0.50
5200
216.00
216.50
0.50
7600
216.50
216.65
0.15
4200
216.65
217.00
0.35
16500
217.00
217.50
0.50
5600
217.50
217.65
0.15
3600
217.65
218.00
0.35
15100
218.00
218.50
0.50
2900
218.50
219.00
0.50
<300
219.00
219.50
0.50
480
219.50
220.00
0.50
490
220.00
220.50
0.50
470
PLN24-130
1005S
589527.1
6410832.3
539.1
55.1
-65.0
PNG-6A MSZ Exploration; no radioactivity >300
cps
n.a.
392.0
PLN24-131
795S
588288.1
6410188.1
532.5
55.0
-65.1
252.50
253.00
0.50
410
123.8
374.0
PLN24-132
090S
587708.0
6410637.5
545.6
55.0
-58.1
A1 MSZ exploration; no radioactivity >300 cps
n.a.
335.0
PLN24-133
2850S
589506.9
6408515.5
529.3
55.0
-71.7
B1 MSZ Exploration; no radioactivity >300 cps
164.1,
290.0,313.3
503.0
PLN24-134
435S
587868.1
6410326.1
530.7
53.6
-64.6
A1 MSZ exploration; no radioactivity >300 cps
n.a.
440.0
PLN24-135
3240S
589630.4
6408142.8
535.4
52.1
-70.3
380.50
381.00
0.50
370
351.2
647.0
387.00
387.50
0.50
850
387.50
388.00
0.50
720
388.00
388.50
0.50
520
388.50
389.00
0.50
1100
389.00
389.50
0.50
730
642.00
642.50
0.50
560
PLN24-136
630S
588165.6
6410302.3
536.3
54.4
-58.7
A1 MSZ exploration; no radioactivity >300 cps
n.a.
323.0
PLN24-137
040S
587780.2
6410753.3
545.6
55.4
-75.0
201.00
201.50
0.50
330
184.4
305.0
201.50
202.00
0.50
580
202.00
202.50
0.50
380
202.50
203.00
0.50
1000
203.00
203.50
0.50
1000
203.50
204.00
0.50
2200
204.00
204.50
0.50
820
204.50
205.00
0.50
680
205.00
205.50
0.50
940
205.50
206.00
0.50
1500
206.00
206.50
0.50
3300
206.50
207.00
0.50
860
207.00
207.50
0.50
1400
207.50
208.00
0.50
1400
208.00
208.50
0.50
1100
208.50
209.00
0.50
990
209.00
209.50
0.50
760
209.50
210.00
0.50
520
210.00
210.50
0.50
570
210.50
211.00
0.50
390
211.00
211.50
0.50
330
211.50
212.00
0.50
310
212.00
212.50
0.50
360
212.50
213.00
0.50
<300
213.00
213.50
0.50
580
213.50
214.00
0.50
540
214.00
214.50
0.50
8000
214.50
215.00
0.50
65535
215.00
215.25
0.25
63200
215.25
215.50
0.25
65535
215.50
216.00
0.50
65535
216.00
216.20
0.20
14700
216.20
216.50
0.30
4800
216.50
217.00
0.50
520
217.00
217.50
0.50
1700
217.50
219.00
1.50
<300
219.00
219.50
0.50
310
PLN24-138
2850S
589493.8
6408505.0
530.1
51.8
-75.6
473.00
473.50
0.50
380
165.3, 273.9,
313.0
563.0
533.50
534.00
0.50
300
534.00
534.50
0.50
620
534.50
535.00
0.50
320
535.00
535.50
0.50
430
PLN24-139
795S
588289.3
6410186.5
532.6
54.0
-58.9
143.00
143.50
0.50
320
134.6
296.0
191.00
191.50
0.50
330
PLN24-140
2325S
589060.2
6408857.6
543.9
55.7
-60.2
175.50
176.00
0.50
330
n.a.
275.0
216.50
217.00
0.50
560
PLN24-141
3240S
589622.4
6408136.8
535.5
-72.9
57.7
464.00
464.50
0.50
350
350.9
665.0
546.00
546.50
0.50
410
PLN24-142
2850S
589560.6
6408554.7
530.5
-76.3
53.5
391.00
391.50
0.50
1200
162.6
517.5
PLN24-143
2325S
589059.0
6408856.8
543.9
-67.4
54.7
A1 MSZ exploration; no radioactivity >300 cps
n.a.
326.0
PLN24-144
2820S
589485.3
6408554.4
529.6
54.1
-74.8
B1 MSZ exploration; no radioactivity >300 cps
149.5, 304.0,
304.6
479.0
PLN24-145
2325S
589095.3
6408883.2
543.9
52.9
-65.6
A1 MSZ exploration; no radioactivity >300 cps
n.a.
299.0
Figure 1: PLN24-133 (line 2850S): Lower Structural Athabasca Unconformity
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Figure 2: PLN24-144 (line 2820S): Basement wedge hosted graphitic fault
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The Company contracted Patterson Geophysics Inc. ("
Patterson
") to complete 65 line-km of fixed loop
SQUID electromagnetic survey coverage (FL-SQUID-EM) over the B1 target area, to measure the
induced electromagnetic ("
EM
") fields associated with sandstone alteration effects as well as the
response to dipping basement conductors. A trace of this conductor model projected to surface is
shown on Map 1, and notably deviated in strike from the original B1 conductor model. The data collected
by Patterson was used to target and successfully drill the large graphitic structure associated with the
basement wedge intersected in PLN24-133.
Dias Geophysical Ltd. completed the 3D DC resistivity and induced polarization (DCIP) over the
northern A1 area hosting the JR Zone, and the B1 area, using their DIAS32 system. F3 has engaged a
contractor to process and perform 3D inversion modeling of resistivity and EM geophysical data jointly
and in conjunction with all the drilling data to better resolve thin basement hosted conductors.
Initial Exploration Services Inc. has been contracted to conduct a ground gravity survey over the
southwest section of the PLN and Broach properties. The survey is currently focusing on surveying the
lakes and waterbodies using ice cover, with the remainder of the survey area to be infilled in late spring,
and F3 aims to disclose those results once all the data has been collected and interpreted.
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 2 plan maps and B1 cross section showing basement wedge below.
See drill cross sections at
PLN Project|F3 Uranium Corp.
Map 1: PLN Winter 2024 Drill Program - Update: Scintillometer Results
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