Mike Fagan,
Editor
April 23, 2024
F3 Uranium Corp. (TSX-V: FUU)(OTC: FUUFF) — currently trading around C$0.40 per share in the 2024 uranium bull market — has completed the first 30 holes of its 2024 winter drill program at the flagship, 100%-owned PLN uranium project located in the southwestern portion of Canada’s prolific Athabasca Basin.
Highlights include hole PLN23-137, which intersected mineralization within a 18.5-meter interval, including 1.25 meters of composite off-scale mineralization (>65,535 cps).
As part of the ongoing program, the F3 team has expanded its focus on the discovery of additional mineralized zones along the A1 and B1 structures with numerous radioactive intercepts along both shears generating additional drill targets.
F3 Uranium president Ray Ashley commented on the steady progress being made at PLN via press release:
“We are very pleased with the results from this winter's drill program and the number of new targets generated along both the A1 and B1 systems. The scale of reverse faulting in conjunction with related massive graphitic fault structures at B1 was unexpected and supports our theory that the majority of B1 drilling south of line 2850 may have been in the footwall of this fault, where intense alteration and frequent radioactive intercepts suggest the presence of a nearby source. At A1, considerable undrilled gaps remain open for exploration, such as the 800m gap where hole PLN24-140 was drilled, returning over 11,000 cps on the gamma probe within the shear. With a large-scale gravity survey underway, in addition to a joint inversion of ground EM and resistivity geophysics, we continue to develop new targets for the drill program slated to resume in May after a short pause for seasonal breakup.”
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 earlier in the year marked the first intersection of strong radioactivity below the JR Zone, pointing to the potential for resource expansion at-depth through deeper drilling.
At the B1 shear zone, a total of nine drill holes targeted the intense alteration and structure intersected during the 2023 drill campaign with five holes intersecting anomalous radiation over a total strike length of 600 meters.
The recently completed 30 holes 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. As noted, a comprehensive gravity survey, along with ground EM and resistivity geophysics, is underway to assist in the delineation of future drill targets.
The PLN project itself 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.
With uranium trading near decade-highs around US$90 per pound, 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 assays are released and as drilling resumes in May.
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For more on F3 Uranium, please be encouraged to contact the company’s investor relations department 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 as developments arise.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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