F3 Hits More Off Scale >65,535 CPS at JR; Increases Prospectivity at B1

Critical Minerals & Rare Earths, Energy, Oil & Gas + Uranium

December 18, 2023 (Source) — F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce initial scintillometer results from the last eleven drill holes of the fall drill program on the Patterson Lake North (“PLN”) Property, including multiple high grade intercepts. In particular drill hole PLN23-110 tested for mineralization up dip of PLN23-101 (see NR dated October 16, 2023) and intersected mineralization within a 11.5m interval including 1.50m of continuous off scale radioactivity (>65,535 cps). Drill hole PLN23-112 tested mineralization down dip of PLN23-068 (see NR dated August 14, 2023) and intersected mineralization within a 11.5m interval including 1.35m of composite off-scale radioactivity (65,535 cps).

The southern end of the A1 trend features significant vertical displacement; drill holes PLN23-078 and PLN23-093 (section line 2640S, see Map 2) were cored into bedrock with no Athabasca Sandstone present. Drill holes grid south including PLN23-115 and PLN23-111 have approximately 230m of sandstone cover; this indicated the presence of a vertically offsetting and likely cross cutting structure.

At the B1 area, exploration drilling is encountering increasingly prospective geology. PLN23-111 was drilled approximately 200m grid north of PLN23-093 where significant boron values were reported (see NR dated November 27, 2023) and cored a significant section of intensely brecciated, faulted and clay altered Athabasca Sandstone (see Figure 1). The strongly graphitic and clay altered basement hosted B1 shear zone was intersected below. This is indicative of significant reactivated structures favorable for hosting uranium mineralization.

A total of 53 drill holes totaling 19,800 meters have been completed since the summer drill program began in June, and an additional 5 targets have casing already set in anticipation of the upcoming winter 2024 drill campaign slated to begin in early January 2024.

Sam Hartmann, VP Exploration, commented:

“As we break for the holiday season, we would like to thank our staff and contractors for their hard work and dedication over the past six months. Preparation and planning for the winter 2024 program is already underway, and we look forward to receiving exploration geochemistry results from the B1 area, as well as ground resistivity interpretations from the A1 and B1 areas which will drive exploration efforts aimed at discovering additional mineralized zones. Recent JR Zone drilling focused on defining the boundaries of mineralization, but continued to yield high grade intercepts which will be followed up. Phase 1 of the DIAS 3D-DCIP ground resistivity survey is still in progress, and currently working over the B1 area. Recent drill hole intercepts at B1, including sandstone dissolution and silicification, as seen in PLN23-111, as well as basement hosted conductive structures related to the B1 shear, will be used to create constrained 2D and 3D inversions to assist in our winter drill targeting.”

Drilling Highlights:

PLN23-110 (line 015S):

  • 11.5m interval with mineralization from 216.5m – 228.0m, including
    • 3.0m mineralization from 216.5m – 219.5m, and
    • 4.0m mineralization from 224.0m – 228.0m, including
    • 1.50m continuous off-scale radioactivity (> 65,535 cps) between 226.00m and 227.50m

PLN23-112 (line 060S):

  • 11.5m mineralization from 229.0m – 240.5m, including
    • 1.35m composite off-scale radioactivity (> 65,535 cps) between 231.80 and 240.00m

Drilling Intercepts:

PLN23-105 (line 3450S): B1 Exploration

  • No mineralization >300 cps

PLN23-106 (line 120S):

  • 3.5m mineralization from 199.0m to 202.5m, and
  • 4.5m mineralization from 239.0m to 243.5m

PLN23-107 (line 3450S): B1 Exploration

  • No mineralization >300 cps

PLN23-108 (line 030S):

  • 1.0m mineralization from 256.0m to 257.0m, and
  • 2.0m mineralization from 260.0m to 262.0m

PLN23-109 (line 015S):

  • 3.0m mineralization from 220.5m to 223.5m

PLN23-111 (line 3240S): B1 Exploration

  • No mineralization >300 cps

PLN23-113 (line 930S): A1 Exploration

  • No mineralization >300 cps

PLN23-114 (line 030S):

  • 3.5m mineralization from 219.0m to 222.5m, and
  • 2.0m mineralization from 230.0m to 232.0m, including
    • 0.35m of continuous radioactivity >10,000 cps between 231.15m and 231.50m

PLN23-115 (line 2955S): B1 Exploration

  • No mineralization >300 cps

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 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.

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
PLN23-1053450S589764.96407978.1540.453.3-65.0B1 exploration; no radioactivity >300 cps366.9713
PLN23-106120S587761.46410639.4544.454.3-64.1199.00199.500.501700186.0326
       199.50200.000.501500  
       200.00201.001.00<300  
       201.00201.500.501500  
       201.50202.000.503000  
       202.00202.500.501600  
       239.00239.500.50350  
       239.50241.001.50<300  
       241.00241.500.50860  
       241.50243.001.50<300  
       243.00243.500.50310  
PLN23-1073450S589673.76407913.1539.955.0-65.2B1 exploration; no radioactivity >300 cps359.8626
PLN23-108030S587682.16410692.8545.153.6-60.3256.00256.500.50730201.7371
       256.50257.000.503500  
       260.00260.500.50380  
       260.50261.000.504600  
       261.00261.500.50<300  
       261.50262.000.50320  
PLN23-109015S587739.06410762.5545.554.7-74.9220.50221.000.50530188.0344
       221.00221.500.501400  
       221.50222.000.501300  
       222.00222.500.504600  
       222.50223.000.503400  
       223.00223.500.503300  
PLN23-110015S587733.46410749.2545.553.3-61.8216.50217.000.50370201.2332
       217.00217.500.501400  
       217.50218.000.501500  
       218.00218.500.50930  
       218.50219.000.501300  
       219.00219.500.502200  
       224.00224.500.50300  
       224.50226.001.50<300  
       226.00226.500.50>65535  
       226.50227.000.50>65535  
       227.00227.500.50>65535  
       227.50227.800.3053900  
       227.80228.000.201900  
PLN23-1113240S589638.66408148.6535.555.2-65.2B1 exploration; no radioactivity >300 cps362.5566
PLN23-112060S587748.76410702.1545.753.3-65.5224.00224.500.501100197.2317
       229.00229.500.50800  
       229.50230.000.503400  
       230.00230.500.504900  
       230.50231.000.50<300  
       231.00231.500.50750  
       231.50231.800.309700  
       231.80232.000.20>65535  
       232.00232.500.50>65535  
       232.50233.000.503300  
       233.00233.500.50380  
       233.50234.000.50380  
       234.00234.500.50350  
       234.50235.000.50430  
       235.00235.500.50<300  
       235.50236.000.50300  
       236.00236.500.50860  
       236.50237.000.502100  
       237.00237.500.505300  
       237.50238.000.508900  
       238.00238.150.158800  
       238.15238.500.35>65535  
       238.50239.000.503200  
       239.00239.500.503900  
       239.50239.700.208100  
       239.70240.000.30>65535  
       240.00240.500.503500  
       244.00244.500.50340  
PLN23-113930S588352.96410068.3532.952.8-65.0A1 exploration; no radioactivity >300 cpsn/a287
PLN23-114030S587736.86410733.3545.554.8-58.1219.00219.500.50360207.2317
       219.50220.000.50440  
       220.00221.001.00<300  
       221.00221.500.50330  
       221.50222.000.50<300  
       222.00222.500.50350  
       230.00230.500.50360  
       230.50231.000.502100  
       231.00231.150.159900  
       231.15231.500.3520000  
       231.50232.000.501100  
       235.50236.000.501400  
       236.00236.500.50350  
       293.00293.500.50510  
PLN23-1152955S589548.16408433.1530.842.9-67.9B1 exploration; no radioactivity >300 cps337.2479

Figure 1: PLN23-111

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/191395_36aebfd6640e7b12_003full.jpg

Handheld spectrometer composite parameters:

  1. Minimum Thickness of 0.5m
  2. CPS Cut-Off of 300 counts per second
  3. Maximum Internal Dilution of 2.0m

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.

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 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: [email protected]

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 2

To view an enhanced version of this graphic, please visit:
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Figure 3

To view an enhanced version of this graphic, please visit:
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F3 Uranium Corp.

F3 Uranium Corp. (TSXV: FUU | OTCQB: FUUFF) is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the…