F3 Uranium Hits 57,100 cps in Widest Mineralized Interval to Date Steps Out 60m From Discovery Hole and Extends Strike Length to 75m.
F3 Uranium Hits 57,100 cps in Widest
Mineralized Interval to Date
Steps Out 60m From Discovery Hole and Extends Strike
Length to 75m.
Kelowna, British Columbia--(Newsfile Corp. - February 21, 2023) -
F3 Uranium Corp
(
TSXV: FUU
)
(
OTCQB: FUUFF
) ("
F3
" or "
the Company
") is pleased to announce scintillometer results from four
additional holes of the ongoing 20-hole winter drill program at the JR Zone on the Patterson Lake North
("PLN") Property, including three high grade intercepts. Drill hole PLN23-050 was collared as a step out
on line 045S and intersected the widest mineralized interval to date over 21.0m, including 3.19m of
composite radioactivity with >10,000 cps and a peak of 57,100 cps at a downhole depth of 255.0m.
PLN23-052 stepped out further to line 060S and resulted in 11.0m of mineralization, including 1.70m of
continuous radioactivity with >10,000 cps and a peak of 53,600 cps. Infill drillhole PLN23-053 on line
030S intersected radioactivity over a 9.5m interval between 245.5m and 255.0m including 2.10m of
composite radioactivity with >10,000 cps and a peak of 48,100 cps.
Raymond Ashley, Vice President Exploration, commented:
"The technical team is delighted to announce scintillometer results of step out hole PLN23-050 on
line 045S where mineralization was encountered over a 21.0m interval within the A1 main shear zone,
including the high grade core. We are continuing with disciplined step out drilling and growing the JR
Zone further along strike to the south, which has now been defined over a total length of 75 meters to
section line 060S where PLS23-052 intersected high grade mineralization with up to 53,600 cps.
Although PLS23-051 on section line 00SN tested the MSZ closer to the Athabasca Unconformity and
did encounter radioactivity, we anticipate focusing the remaining winter program on basement hosted
mineralization. The JR Zone continues to impress with high grade intercepts as we define it along
strike while also building some width with infill drill holes."
Drilling Highlight:
PLN23-050
(line 045S):
21.0m
mineralization from 248.5m - 269.5m, including
3.19m
composite
mineralization of >10,000 cps radioactivity between 252.10m - 256.00m
with a peak of 57,100 cps over 0.50m from 255.0m - 255.5 m (see Photo 1.)
Main Intercepts:
PLN23-051
(line 00N):
1.0m
mineralization from 204.5m - 205.5m
PLN23-052
(line 060S):
11.0m
mineralization from 245.0m - 256.0m, including
1.70m
continuous
mineralization of >10,000 cps radioactivity between 253.00m - 254.70m
with a peak of 53,600 cps over 0.50m from 254.0m - 254.5m
PLN23-053
(line 030S):
9.5m
mineralization from 245.5m - 255.0 m, including
2.10m
composite mineralization of >10,000 cps radioactivity between 251.10m - 254.30m
with a peak of 48,100 cps over 0.50m from 252.00m - 252.50m
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. All depth measurements reported are
down-hole and true thickness are yet to be determined. 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 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.
Photo 1: PLN23-050 Drill Core Photo
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_002full.jpg
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
PLN23-
050
045S
587703.9
6410690.8
545.1
53.7
-59.2
248.50
249.00
0.50
330
206.9
356
249.00
249.50
0.50
<300
249.50
250.00
0.50
2200
250.00
250.50
0.50
300
250.50
251.00
0.50
4100
251.00
251.50
0.50
2200
251.50
252.00
0.50
2200
252.00
252.10
0.10
3000
252.10
252.50
0.40
17300
252.50
252.79
0.29
29500
252.79
253.00
0.21
2700
253.00
253.50
0.50
9700
253.50
254.00
0.50
38400
254.00
254.50
0.50
21700
254.50
255.00
0.50
28900
255.00
255.50
0.50
57100
255.50
256.00
0.50
23700
256.00
256.50
0.50
1200
256.50
257.00
0.50
710
257.00
257.50
0.50
<300
257.50
258.00
0.50
350
258.00
258.50
0.50
9400
258.50
259.00
0.50
9500
259.00
259.50
0.50
8900
259.50
260.00
0.50
350
260.00
261.50
1.50
<300
261.50
262.00
0.50
690
262.00
262.50
0.50
1000
262.50
263.00
0.50
2600
263.00
263.50
0.50
1400
263.50
264.00
0.50
<300
264.00
264.50
0.50
510
264.50
265.00
0.50
1600
265.00
265.50
0.50
520
265.50
266.00
0.50
300
266.00
267.50
1.50
<300
267.50
268.00
0.50
620
268.00
268.50
0.50
<300
268.50
269.00
0.50
910
269.00
269.50
0.50
360
PLN23-
051
00N
587773.5
6410795.4
545.6
54.1
-74.1
204.50
205.00
0.50
310
186.4
336.6
205.00
205.50
0.50
620
209.00
209.50
0.50
470
PLN23-
052
060S
587715.4
6410680.8
545.1
54.0
-61.4
245.00
245.50
0.50
370
202.1
359
245.50
246.00
0.50
1360
246.00
246.50
0.50
510
246.50
248.50
2.00
<300
248.50
249.00
0.50
350
249.00
249.50
0.50
1300
249.50
250.00
0.50
500
250.00
250.50
0.50
1200
250.50
251.00
0.50
5800
251.00
251.50
0.50
4500
251.50
252.50
1.00
<300
252.50
253.00
0.50
520
253.00
253.50
0.50
24400
253.50
254.00
0.50
51900
254.00
254.50
0.50
53600
254.50
254.70
0.20
22200
254.70
255.00
0.30
3600
255.00
255.50
0.50
1300
255.50
256.00
0.50
420
265.00
265.50
0.50
340
265.50
266.00
0.50
980
PLN23-
053
030S
587697.8
6410700.7
545.1
54.5
-60.7
245.50
246.00
0.50
880
204.1
390
246.00
246.50
0.50
600
246.50
247.00
0.50
710
247.00
248.50
1.50
<300
248.50
249.00
0.50
390
249.00
249.50
0.50
330
249.50
250.00
0.50
440
250.00
250.50
0.50
530
250.50
251.00
0.50
450
251.00
251.10
0.10
2100
251.10
251.50
0.40
26500
251.50
252.00
0.50
43400
252.00
252.50
0.50
48100
252.50
253.00
0.50
7300
253.00
253.10
0.10
8600
253.10
253.50
0.40
28300
253.50
254.00
0.50
3900
254.00
254.30
0.30
18700
254.30
254.50
0.20
8700
254.50
255.00
0.50
380
262.50
263.00
0.50
990
Technical Update:
The company is also pleased to provide a brief technical note to provide some additional context to the
drill results reported thus far. Originally, an airborne EM conductor was identified in the area by Fission
Energy, a predecessor to F3 Uranium, in 2008. This conductive zone was further refined by a ground EM
survey in 2012 and named the "A1 conductor"; tight spaced follow-up ground EM and IP resistivity
surveys were conducted in early 2022 to create a more constrained EM plate model. The product of this
conductor interpretation is the geophysical representation of the geological structure hosting the JR
Zone; this structure is now called the A1 main shear zone, or MSZ, which is shown on F3's cross
sections and plan maps. The MSZ is a reverse fault, hosted in variably altered and deformed granite and
orthogneiss units and features a wide damage zone containing variably mylonitic, brecciated and locally
silicified fault zones; these are host to the JR Zone's uranium mineralization. Based on current drilling,
the A1 MSZ appears to have a relatively shallow dip of approximately 50 degrees towards the
southwest, which differs from the original geophysical interpretations that were the basis for F3's 2014
and 2019 drill programs; these assumed a much steeper dipping structure based on historically
modeled ground EM plates.
F3's use of sonic drilling in combination with traditional diamond drill coring allows for shallow drill hole
inclinations resulting in close to perpendicular interceptions of the JR Zone.
Mineralization currently remains open in all directions.
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 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.
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., Vice President of Exploration 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 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
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_005full.jpg
Figure 2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_006full.jpg
Figure 3
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_007full.jpg