Hitting high-grade U3O8 in Canada's prolific Athabasca Basin

F3 Uranium Corp. (TSX-V: FUU)(OTC: FUUFF) — currently trading around C$0.35 per share in the 2024 uranium bull market — has announced assay results for 15 drill holes from its ongoing multi-rig drill program at the flagship, 100%-owned PLN uranium project located in the southwestern portion of Canada’s prolific Athabasca Basin.

Highlights from the fifteen reported-on holes (with assays outstanding from an additional fourteen holes) include:

  • 12.0m @ 7.6% U3O8 (224.0m to 236.0m), including:
  • 8.0m @ 11.2% U3O8 (224.5m to 232.5m), further including
  • 2.0m @ 31.4% U3O8 (227.0 m to 229.0m)

The ongoing drill program, which is being conducted via two diamond drill rigs, is focused on the A1 and B1 shear zones.  The A1 shear zone is the site of the company’s high-grade JR Zone discovery (Hole PLN22-035), which returned:

  • A continuous 15-meter interval averaging 6.97% U3O8, including 
  • An exceptionally high-grade 5.5-meter interval averaging 18.6% U3O8, plus
  • An ultra-high-grade core at 59.2% U3O8 over 1 meter

Deeper drilling at the A1 shear zone from last year marked the first intersection of strong radioactivity below the JR Zone, pointing to the potential for resource expansion at-depth through deeper drilling.

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The latest batch of results are part of an ongoing C$16M ground geophysics and drilling program at PLN slated for a total of 55 holes across 24,000 meters.

F3 Uranium VP Exploration Sam Hartmann commented on the latest batch of assays from PLN via press release: 

“We are very pleased with the results of the ongoing exploration program, in particular the area around the southern end of A1 where our geological targeting model is improving. The area between the A1 and B1 shears continues to be rich with the right kind of structures - altered and displaying radioactivity. Our release today includes winter assays up to hole PLN24-131, with an additional fourteen holes still outstanding, including six from B1. Strongly anomalous exploration geochemistry results at B1 with up to 0.022 % U3O8 in PLN24-122 reinforce our belief that the area has the potential to host high grade uranium. This is bolstered by the concurrent release of scintillometer data including PLN24-152, which intersected two radioactive intervals - coupled with very favorable structure and alteration.” 

The flagship PLN project is located just 25 km northwest of the Patterson Lake area, host to Fission Uranium’s Triple R and NexGen Energy’s Arrow world-class uranium deposits.

Importantly, F3’s management team — headed up by Dev Randhawa, CEO, Raymond Ashley, president, and Sam Hartmann, VP Exploration — is the same team that founded Fission Uranium in 2012 and made the Triple R discovery at Patterson Lake.

F3 also reports significant progress on its proposed spinout of F4 Uranium, which will initially comprise 17 of F3’s prospective Athabasca Basin-based uranium exploration projects totaling some 168,000 hectares.  

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F3’s board has now approved the transaction, which will be up for vote to FUU shareholders next quarter. 

Upon approval:

  • F3 Uranium shareholders of record will receive one F4 share for every 10 shares of F3 held. 
  • F3 Uranium will be ideally structured to focus the lion’s share of resources on its emerging JR Zone discovery at PLN. 
  • F4 Uranium will instantly have one of the largest, most prospective uranium exploration portfolios in the eastern and western Athabasca Basin (with many of the projects situated near large uranium deposits).

With uranium in a confirmed bull market, and with increased industry attention on F3’s 2024 drilling progress at PLN, speculators can expect a steady stream of news flow from FUU over the coming weeks and months as additional assays are released.

For more info on F3 Uranium and, as well, on the proposed F4 spinout, please be encouraged to contact the company’s investor relations department at 778-484-8030 or via email at ir@f3uranium.com.

Visit the F3 Uranium corporate website and sign up to receive press releases and updates directly from the company as key developments arise. 

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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