F3 Uranium Hits >65535 CPS in 30m Stepout and Expands JR Zone North and South

Energy, Oil & Gas + Uranium

February 8, 2023 (Source) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce results from the first eight drill holes of the 20-hole winter drill program at the JR Zone on the Patterson Lake North (“PLN”) Property. Most significantly, continuity of high grade mineralization has been established along strike towards the south with hole PLN23-048 on line 030S, which hit 14.0m total composite mineralization with 4.0m of >40,000 cps, including 0.5m of “offscale” or >65,535 cps, a 30m stepout from the discovery hole. Out of the eight reported drill holes, seven are mineralized and five have high grade mineralization with radioactivity >10,000 cps.

Mineralization was further defined on section 00N up dip and towards the Athabasca Unconformity of hole PLN22-041 (see news release Feb 6, 2023) with hole PLN23-047.

Raymond Ashley, Vice President Exploration, commented:

“The drill program started by testing the depth extent of the zone, while also testing it along strike from the discovery area on line 00N. The team is becoming familiar with the geology and controls on mineralization on the JR Zone which is currently defined over an area measuring approximately 45m by 50m and have identified strong continuity of high grade mineralization along strike towards the south as the program continues to explore that direction to increase the total mineralized strike length. Additionally, we are continuing to drill test further towards the unconformity, with the objective to test the intersection of the A1 main shear zone at the unconformity.”

Drilling Highlight:

PLN23-048 (line 30S):

  • 14.0m total composite mineralization from 246.5m – 260.5m, including
    • 4.0m mineralization of >40,000 cps radioactivity from 249.0m – 253.0 m with 0.5m of >65,535 cps from 252.0m – 252.5 m

Main Intercepts:

PLN23-044 (line 015S):

  • 6.0m total composite mineralization over a 10.m section from 226.0m – 236.0m, including
    • 0.5m mineralization of >10,000 cps radioactivity

PLN23-046 (line 015S):

  • 3.5m mineralization from 261.5m – 265.0m, including
    • 0.77m mineralization of >10,000 cps radioactivity

PLN23-047 (line 00N):

  • 7.5m total composite mineralization over a 10.5m section from 199.0m – 209.5m, including
    • 1.1m total composite mineralization of >10,000 cps radioactivity

PLN23-049 (line 015N):

  • 7.5m mineralization from 245.0m – 252.5m, including
    • 0.2m mineralization of >10,000 cps radioactivity

Mineralization remains open in all directions.

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 0.5 m 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 IDSection LineEastingNorthingElevationAzDipFrom
(m)
To
(m)
Interval
(m)
Max
CPS
PLN22-042015N587734.06410786.2546.051.6-75.6221.00221.500.50470180.8362
       221.50222.000.501100  
       222.00222.500.50720  
       222.50223.000.50410  
PLN22-04300N587657.46410712.2544.852.3-65.3265.00265.500.50320212.6386
       265.50266.000.50830  
       266.00266.500.50530  
       266.50267.000.501600  
PLN22-044015S587724.96410743.2545.453.3-53.8226.00226.500.50400197.0349
       226.50227.000.50320  
       227.00227.500.50520  
       227.50227.800.3035200  
       227.80228.000.206300  
       228.00228.500.50560  
       228.50229.000.50440  
       229.00229.500.50420  
       233.50234.000.501400  
       234.00234.500.50310  
       234.50235.000.502500  
       235.00235.500.503100  
       235.50236.000.50710  
PLN22-045015N587674.46410742.9545.553.3-53.8No Anomalous Radioactivity >300cps213.8350
PLN22-046015S587667.36410699.3544.853.7-56.9261.50262.000.501100208.2376
       262.00262.500.505900  
       262.50263.000.505200  
       263.00263.230.238100  
       263.23263.500.2742500  
       263.50264.000.5044400  
       264.00264.500.508500  
       264.50265.000.501200  
PLN22-04700N587771.86410794.1545.451.6-75.6199.00199.500.50580179.0353
       199.50200.000.50740  
       200.00200.500.50620  
       200.50201.000.501900  
       201.00201.500.50400  
       201.50202.000.504800  
       202.00202.500.503900  
       202.50203.000.501700  
       206.00206.400.4021100  
       206.40206.500.107200  
       206.50206.900.4024000  
       206.90207.000.103500  
       207.00207.500.504200  
       207.50208.000.504900  
       208.00208.300.3015800  
       208.30208.500.201600  
       208.50209.000.50510  
       209.00209.500.50420  
PLN22-048030S587695.26410701.5545.154.5-57.8246.50247.000.50570209.0356
       247.00247.500.501100  
       247.50248.000.501400  
       248.00248.500.50530  
       248.50249.000.501200  
       249.00249.500.5046600  
       249.50250.000.5050100  
       250.00250.500.5052400  
       250.50251.000.5059200  
       251.00251.500.5045600  
       251.50252.000.5049400  
       252.00252.500.50>65535  
       252.50253.000.5040100  
       253.00253.500.502300  
       253.50253.750.258700  
       253.75254.000.2515300  
       254.00254.500.50750  
       254.50255.000.50350  
       255.00255.500.50850  
       255.50256.000.50870  
       256.00256.500.501400  
       256.50257.000.50430  
       257.00257.500.50<300  
       257.50258.000.50830  
       258.00258.500.501400  
       258.50259.000.502200  
       259.00259.500.50430  
       259.50260.000.50<300  
       260.00260.500.50580  
PLN22-049015N587675.36410743.4545.456.3-55.5245.00245.500.50440213.1359
       245.50246.000.50430  
       246.00246.500.50440  
       246.50247.000.505100  
       247.00247.500.505200  
       247.50247.700.2011900  
       247.70248.000.306700  
       248.00248.500.505800  
       248.50249.000.506700  
       249.00249.500.501500  
       249.50250.000.501700  
       250.00250.500.50940  
       250.50251.000.50600  
       251.00251.500.507300  
       251.50252.000.503200  
       252.00252.500.501400  

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

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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…