With uranium surging, this ultra low-priced uranium explorer is drilling and hitting in Canada’s famed Athabasca Basin

F3 Uranium Corp. (TSX-V: FUU)(OTC: FUUFF) — currently trading around C$0.53 per share in the 2024 uranium bull market — has announced off-scale scintillometer results from the first hole of the company’s winter drill program at the flagship, 100%-owned PLN uranium project located in the southwestern portion of Canada’s prolific Athabasca Basin.

The basin’s southwestern zone, which hosts the PLN project, is poised to become the next uranium producer and is also home to a number of world-class uranium deposits, including Fission Uranium’s Triple R and NexGen Energy’s Arrow deposits.

The newly-completed drill hole (Hole No. PLN24-116; reported on here) successfully intersected mineralization within a 16.5-meter interval, including 2.05 meters of off-scale radioactivity (>65,535 cps), signaling the preliminary indication of the presence of radioactive materials.

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A second, deeper mineralized zone was also encountered in hole-116, marking the first intersection of strong radioactivity below the JR Zone.

Smart Lake map

Those following the F3 Uranium story will recall that the JR Zone is the site of the company’s 2022 high-grade discovery hole at PLN — the only recent high-grade uranium discovery in the basin by a junior. 

That intersection of mineralization below the JR Zone in hole-116 points to potential for resource expansion at-depth through deeper drilling. A second drill rig has now been deployed at the JR Zone, which the company’s field team will be moving approximately 3 km to the south (to the B1 shear zone target area) where significant alteration, structures, and highly anomalous geochemistry were encountered in last year’s drilling.

Additionally, long-awaited results from the company’s recently completed airborne EM survey at PNL — which focused heavily on the JR Zone — are just days away from completion, which the company will be reporting on soon via press release.

Next up, the company will be moving straight into the next phase of ground geophysics, which, together with the airborne EM survey results, will be used to delineate the next set of drill targets at PLN. 

In just the last year, F3 Uranium has completed ~20,000 meters of drilling across fifty-plus holes at PLN with several additional high-priority drill targets mapped out for drill-testing in the current and future drill rounds. 

F3 has also announced a planned spinout of 14 of its Athabasca-based uranium exploration projects into a wholly-owned subsidiary to be named F4 Uranium Corporation.

As always, we’ll continue to keep you abreast of key F3 developments, including next-round results from the ongoing C$16M ground geophysics and drilling program at PLN along with updates on the proposed F4 Uranium spinout. 

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In the meantime, please be encouraged to contact F3 Uranium’s investor relations department at 778-484-8030 or via email at ir@f3uranium.com for additional information.

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.

With uranium trading at 16-year highs above US$100 per pound, and with increased industry attention on F3’s drilling progress at PLN, speculators can expect a steady stream of news flow from FUU over the coming weeks and months. Stay tuned!    

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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