F3 Uranium Hits 57,100 cps in Widest Mineralized Interval to Date

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

Steps Out 60m From Discovery Hole and Extends Strike Length to 75m.

February 21, 2023 (Source) – 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 compositemineralization 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 continuousmineralization 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 IDSection LineEastingNorthingElevationAzDipFrom
(m)
To
(m)
Interval
(m)
Max
CPS
PLN23-050045S587703.96410690.8545.153.7-59.2248.50249.000.50330206.9356
       249.00249.500.50<300  
       249.50250.000.502200  
       250.00250.500.50300  
       250.50251.000.504100  
       251.00251.500.502200  
       251.50252.000.502200  
       252.00252.100.103000  
       252.10252.500.4017300  
       252.50252.790.2929500  
       252.79253.000.212700  
       253.00253.500.509700  
       253.50254.000.5038400  
       254.00254.500.5021700  
       254.50255.000.5028900  
       255.00255.500.5057100  
       255.50256.000.5023700  
       256.00256.500.501200  
       256.50257.000.50710  
       257.00257.500.50<300  
       257.50258.000.50350  
       258.00258.500.509400  
       258.50259.000.509500  
       259.00259.500.508900  
       259.50260.000.50350  
       260.00261.501.50<300  
       261.50262.000.50690  
       262.00262.500.501000  
       262.50263.000.502600  
       263.00263.500.501400  
       263.50264.000.50<300  
       264.00264.500.50510  
       264.50265.000.501600  
       265.00265.500.50520  
       265.50266.000.50300  
       266.00267.501.50<300  
       267.50268.000.50620  
       268.00268.500.50<300  
       268.50269.000.50910  
       269.00269.500.50360  
PLN23-05100N587773.56410795.4545.654.1-74.1204.50205.000.50310186.4336.6
       205.00205.500.50620  
       209.00209.500.50470  
PLN23-052060S587715.46410680.8545.154.0-61.4245.00245.500.50370202.1359
       245.50246.000.501360  
       246.00246.500.50510  
       246.50248.502.00<300  
       248.50249.000.50350  
       249.00249.500.501300  
       249.50250.000.50500  
       250.00250.500.501200  
       250.50251.000.505800  
       251.00251.500.504500  
       251.50252.501.00<300  
       252.50253.000.50520  
       253.00253.500.5024400  
       253.50254.000.5051900  
       254.00254.500.5053600  
       254.50254.700.2022200  
       254.70255.000.303600  
       255.00255.500.501300  
       255.50256.000.50420  
       265.00265.500.50340  
       265.50266.000.50980  
PLN23-053030S587697.86410700.7545.154.5-60.7245.50246.000.50880204.1390
       246.00246.500.50600  
       246.50247.000.50710  
       247.00248.501.50<300  
       248.50249.000.50390  
       249.00249.500.50330  
       249.50250.000.50440  
       250.00250.500.50530  
       250.50251.000.50450  
       251.00251.100.102100  
       251.10251.500.4026500  
       251.50252.000.5043400  
       252.00252.500.5048100  
       252.50253.000.507300  
       253.00253.100.108600  
       253.10253.500.4028300  
       253.50254.000.503900  
       254.00254.300.3018700  
       254.30254.500.208700  
       254.50255.000.50380  
       262.50263.000.50990  

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: [email protected]

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
Figure 4
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_008full.jpg
Figure 5
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/155523_23195346747dbb64_009full.jpg

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…