Mike Fagan,
Editor
March 12, 2024
F3 Uranium Corp. (TSX-V: FUU)(OTC: FUUFF) — currently trading around C$0.42 per share — has announced the start of its 2024 winter drill program at the 11,173-hectare Hearty Bay uranium project located on the northern edge of Saskatchewan’s prolific Athabasca Basin.
The program is being funded by Traction Uranium Corp., which can earn-in an initial 50% interest in the property by completing C$3 million in exploration expenditures and an additional 20% by completing an additional C$3 million in exploration expenditures by the end of next year.
The Hearty Bay project is part of F3’s 100%-owned Beaverlodge area projects, which also includes the 7,599-hectare Beaver River project. The Beaverlodge area is part of a well-established past-producing uranium district with historical production from dozens of uranium mines throughout the 1950s and 1960s.
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View ReportsF3 is embarking on a 2,000-meter drill program at Hearty Bay with the aim of locating the source of the Isle Brochet radioactive boulders, which have returned high-grade uranium assay values up to 8.23% U3O8.
The 2,000-meter program is expected to be completed by month’s end, which means that the first batch of assays should be right around the corner.
It’s been a busy and productive start to the year for F3 Uranium in the Athabasca Basin, highlighted by the start of drilling at the flagship PLN uranium project (home to the high-grade JR Zone discovery), which was recently expanded via the acquisition of CanAlaska’s Patterson West project.
Additionally, in terms of the F4 Uranium Corporation spinout, Dev Randhawa, CEO of F3 and incoming executive chairman of F4 had this to say about its partnership with Canadian GoldCamps wherein Canadian Goldcamps can earn up to a 70% interest in the Murphy Lake property:
“With this transaction, we have immediately demonstrated the successful unlocking of value within F4’s portfolio of fourteen Athabasca Basin projects. The partnership highlights the prospectivity of the Murphy Lake property with Canadian GoldCamps sole-funding exploration for three years, minimizing share dilution to F4 shareholders…”
So plenty of irons in the fire for F3 Uranium in what’s shaping up to be a powerful uranium bull market. As always, we’ll keep you posted on key developments as they arise.
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View PublicationsIn the meantime, and for more on F3 Uranium, please feel free to contact the company’s IR department directly at 778-484-8030 or via email at ir@f3uranium.com.
You can also visit the F3 Uranium corporate website where you can sign up to receive press releases and updates directly from the company.
Also, be sure to check out our own ongoing coverage of F3, including exclusive interviews with upper management.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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