F3 Hits 66.8% U3O8 over 0.5m within 42.4% over 2.0m at JR

Date/time : 2024-02-12 02:15 AM
Symbol :

FUU

Company : F3 Uranium Corp.
Price : 0.495
Market cap : 226,545,739
O/S : 457,668,160
Exchange :

TSXV

Industry :

Uranium

Full story

F3 Hits 66.8% U3O8 over 0.5m within 42.4% over 2.0m at JR

Kelowna, British Columbia--(Newsfile Corp. - February 12, 2024) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce final assay results from the fall 2023 drill program, including PLN23-110 (see NR dated December 18, 2023) which returned 2.0m of 42.4% U3O8 from 226.0m to 228.0m, including 1.5m averaging 55.4% U3O8 with a highest grade of 66.8% U3O8 in a single 0.5m sample. PLN23-112, drilled from line 060S returned 11.5m averaging 2.00% U3O8 from 229.0m to 240.5m including 3.5m averaging 4.24% U3O8.

Sam Hartmann, VP Exploration, commented:

"PLN23-110 returned ultra-high grade assays, including the highest assay to date - 66.8% U3O8 on section 015S, which remains open in the up-dip direction. At the B1 area, where we initially targeted the B1 EM conductor, significant alteration in sandstone and basement rocks was encountered (see NR dated December 18, 2023) and we are pleased to receive final geochemistry supporting our decision to drill a wide fence with 4 drill holes across approximately 250m of geology. Anomalous basement uranium values were intersected, notably in PLN23-105 with up to 137 ppm uranium; values of greater than 100 ppm uranium have previously only been encountered in PLN14-019 and immediately surrounding holes, as well as within the JR Zone itself."

The Company is also pleased to announce that it has completed a technical report for its Patterson Lake North (PLN) Project, including the PLN, Broach and Minto properties, pursuant to National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101"). The report was completed by lead consultant SLR International Corporation ("SLR") with an effective date of November 20, 2023, prepared for F3 Uranium Corp. and dated January 25, 2024. The report will be filed on SEDAR within 45 days.

Assay Highlight:

PLN23-110 (line 015S): mineralized intervals

  • 2.5m @ 0.23% U3O8 (217.0m to 219.5m), and
  • 2.0m @ 42.4% U3O8 (226.0m to 228.0m), including
  • 1.5m @ 55.4% U3O8 (226.0m to 227.5m), further including
  • 0.5m @ 66.8% U3O8 (227.0m to 227.5m)

Main JR Zone Intercepts:

PLN23-101 (line 015S): mineralized intervals

  • 11.5m @ 0.39% U3O8 (218.5m to 230.5m), including
  • 1.5m @ 1.77% U3O8 (222.5m to 224.0m), and
  • 1.5m @ 2.64% U3O8 (227.5m to 229.0m)

PLN23-106 (line 120S): mineralized interval

  • 0.5m @ 0.07% U3O8 (240.5m to 241.0m)

PLN23-108 (line 030S): mineralized intervals

  • 0.5m @ 0.24% U3O8 (256.5m to 257.0m), and
  • 0.5m @ 0.67% U3O8 (260.5m to 261.0m)

PLN23-109 (line 015S): mineralized interval

  • 2.5m @ 0.33% U3O8 (221.0m to 223.5m)

PLN23-112 (line 060S): mineralized intervals

  • 8.0m @ 1.03% U3O8 (229.0m to 237.0m), including
    0.5m @ 13.2% U3O8 (232.0m to 232.5m), and
  • 3.5m @ 4.24% U3O8 (237.0m to 240.5m), including
  • 0.5m @ 20.0% U3O8 (238.0m to 238.5m)

PLN23-114 (line 030S): mineralized intervals

  • 3.0m @ 0.05% U3O8 (219.5m to 222.5m), and
  • 1.5m @ 0.64% U3O8 (230.5m to 232.0m), and
  • 0.5m @ 0.11% U3O8 (235.5m to 236.0m)

Exploration Drilling Highlights:

PLN23-102 (line 3450S), B1 Area:

  • 0.5m @ 79 ppm uranium (411.5m to 412.0m) in basement

PLN23-105 (line 3450S), B1 Area:

  • 7.5m @ 48 ppm uranium (528.5m to 535.0m) in basement, including
  • 0.5m @ 137 ppm uranium (531.5m to 532.0m)

PLN23-111 (line 3450S), B1 Area:

  • 3.5m @ 1,198 ppm boron (357.5m to 361.0m) in sandstone, including
  • 0.5m @ 2,770 ppm boron (357.5m to 358.0m)

Table 1. Drill Hole Summary and Uranium Assay Results

Collar Information Assay Results
Hole ID Grid
Line
Easting Northing Elevation Az Dip From
(m)
To
(m)
Interval
(m)
U3O8 weight
%
PLN23-101 015S 587732.5 6410748.2 545.3 54.6 -64.9 218.50 222.50 4.00 0.22
              222.50 224.00 1.50 1.77
              224.00 227.50 3.50 0.28
              227.50 229.00 1.50 2.64
              229.00 230.00 1.00 0.26
PLN23-102 3450S 589712.2 6407939.1 540.0 53.1 -65.6 B1 exploration; no mineralization >0.05
PLN23-103 045S 587780.7 6410746.1 545.7 54.5 -60.3 no mineralization >0.05
PLN23-104 105S 587729.0 6410634.5 545.2 54.4 -60.6 no mineralization >0.05
PLN23-105 3450S 589764.9 6407978.1 540.4 53.3 -65.0 B1 exploration; no mineralization >0.05
PLN23-106 120S 587761.4 6410639.4 544.4 54.3 -64.1 240.50 241.00 0.50 0.07
PLN23-107 3450S 589673.7 6407913.1 539.9 55.0 -65.2 B1 exploration; no mineralization >0.05
PLN23-108 030S 587682.1 6410692.8 545.1 53.6 -60.3 256.50 257.00 0.50 0.24
              260.50 261.00 0.50 0.67
PLN23-109 015S 587739.0 6410762.5 545.5 54.7 -74.9 221.00 223.50 2.50 0.33
PLN23-110 015S 587733.4 6410749.2 545.5 53.3 -61.8 217.00 219.50 2.50 0.23
              226.00 228.00 2.00 42.4
            incl 226.00 227.50 1.50 55.4
PLN23-111 3240S 589638.6 6408148.6 535.5 55.2 -65.2 B1 exploration; no mineralization >0.05
PLN23-112 060S 587748.7 6410702.1 545.7 53.3 -65.5 229.00 232.00 3.00 0.33
              232.00 232.50 0.50 13.2
              232.50 237.00 4.50 0.14
              237.00 240.50 3.50 4.24
            incl 238.00 238.50 0.50 20.0
              244.50 245.00 0.50 0.05
PLN23-113 930S 588352.9 6410068.3 532.9 52.8 -65.0 A1 exploration; no mineralization >0.05
PLN23-114 030S 587736.8 6410733.3 545.5 54.8 -58.1 219.50 222.50 3.00 0.05
              230.50 232.00 1.50 0.64
              235.50 236.00 0.50 0.11
PLN23-115 2955S 589548.1 6408433.1 530.8 42.9 -67.9 B1 exploration; no mineralization >0.05

 

Assay composite parameters:

  1. Minimum Thickness of 0.5 m
  2. Assay Grade Cut-Off: 0.05% U3O8 (weight %)
  3. Maximum Internal Dilution: 2.0 m

Composited weight % U3O8 mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as "high grade" and results greater than 20.0 weight % U3O8 as "ultra-high grade".

All depth measurements reported are down-hole and true thickness are yet to be determined.

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: ir@f3uranium.com

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.

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Figure 1 - Patterson Lake North Fall 2023 Drill Program Update: Assay Results

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Figure 2 - Patterson Lake North Fall 2023 Drill Program Update: JR Zone Assay Results

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