Kelowna, British Columbia--(Newsfile Corp. - February 8, 2023) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce results from the first eight drill holes of the 20-hole winter drill program at the JR Zone on the Patterson Lake North ("PLN") Property. Most significantly, continuity of high grade mineralization has been established along strike towards the south with hole PLN23-048 on line 030S, which hit 14.0m total composite mineralization with 4.0m of >40,000 cps, including 0.5m of "offscale" or >65,535 cps, a 30m stepout from the discovery hole. Out of the eight reported drill holes, seven are mineralized and five have high grade mineralization with radioactivity >10,000 cps.
Mineralization was further defined on section 00N up dip and towards the Athabasca Unconformity of hole PLN22-041 (see news release Feb 6, 2023) with hole PLN23-047.
Raymond Ashley, Vice President Exploration, commented:
"The drill program started by testing the depth extent of the zone, while also testing it along strike from the discovery area on line 00N. The team is becoming familiar with the geology and controls on mineralization on the JR Zone which is currently defined over an area measuring approximately 45m by 50m and have identified strong continuity of high grade mineralization along strike towards the south as the program continues to explore that direction to increase the total mineralized strike length. Additionally, we are continuing to drill test further towards the unconformity, with the objective to test the intersection of the A1 main shear zone at the unconformity."
Drilling Highlight:
PLN23-048 (line 30S):
- 14.0m total composite mineralization from 246.5m - 260.5m, including
- 4.0m mineralization of >40,000 cps radioactivity from 249.0m - 253.0 m with 0.5m of >65,535 cps from 252.0m - 252.5 m
Main Intercepts:
PLN23-044 (line 015S):
- 6.0m total composite mineralization over a 10.m section from 226.0m - 236.0m, including
- 0.5m mineralization of >10,000 cps radioactivity
PLN23-046 (line 015S):
- 3.5m mineralization from 261.5m - 265.0m, including
- 0.77m mineralization of >10,000 cps radioactivity
PLN23-047 (line 00N):
- 7.5m total composite mineralization over a 10.5m section from 199.0m - 209.5m, including
- 1.1m total composite mineralization of >10,000 cps radioactivity
PLN23-049 (line 015N):
- 7.5m mineralization from 245.0m - 252.5m, including
- 0.2m mineralization of >10,000 cps radioactivity
Mineralization remains open in all directions.
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5 m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their "Uranium Package".
All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.
Table 1. Drill Hole Summary and Handheld Spectrometer Results
| Collar Information | * Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum) | Athabasca Unconformity Depth (m) | Total Drillhole Depth (m) | |||||||||
| Hole ID | Section Line | Easting | Northing | Elevation | Az | Dip | From (m) | To (m) | Interval (m) | Max CPS | ||
| PLN22-042 | 015N | 587734.0 | 6410786.2 | 546.0 | 51.6 | -75.6 | 221.00 | 221.50 | 0.50 | 470 | 180.8 | 362 |
| 221.50 | 222.00 | 0.50 | 1100 | |||||||||
| 222.00 | 222.50 | 0.50 | 720 | |||||||||
| 222.50 | 223.00 | 0.50 | 410 | |||||||||
| PLN22-043 | 00N | 587657.4 | 6410712.2 | 544.8 | 52.3 | -65.3 | 265.00 | 265.50 | 0.50 | 320 | 212.6 | 386 |
| 265.50 | 266.00 | 0.50 | 830 | |||||||||
| 266.00 | 266.50 | 0.50 | 530 | |||||||||
| 266.50 | 267.00 | 0.50 | 1600 | |||||||||
| PLN22-044 | 015S | 587724.9 | 6410743.2 | 545.4 | 53.3 | -53.8 | 226.00 | 226.50 | 0.50 | 400 | 197.0 | 349 |
| 226.50 | 227.00 | 0.50 | 320 | |||||||||
| 227.00 | 227.50 | 0.50 | 520 | |||||||||
| 227.50 | 227.80 | 0.30 | 35200 | |||||||||
| 227.80 | 228.00 | 0.20 | 6300 | |||||||||
| 228.00 | 228.50 | 0.50 | 560 | |||||||||
| 228.50 | 229.00 | 0.50 | 440 | |||||||||
| 229.00 | 229.50 | 0.50 | 420 | |||||||||
| 233.50 | 234.00 | 0.50 | 1400 | |||||||||
| 234.00 | 234.50 | 0.50 | 310 | |||||||||
| 234.50 | 235.00 | 0.50 | 2500 | |||||||||
| 235.00 | 235.50 | 0.50 | 3100 | |||||||||
| 235.50 | 236.00 | 0.50 | 710 | |||||||||
| PLN22-045 | 015N | 587674.4 | 6410742.9 | 545.5 | 53.3 | -53.8 | No Anomalous Radioactivity >300cps | 213.8 | 350 | |||
| PLN22-046 | 015S | 587667.3 | 6410699.3 | 544.8 | 53.7 | -56.9 | 261.50 | 262.00 | 0.50 | 1100 | 208.2 | 376 |
| 262.00 | 262.50 | 0.50 | 5900 | |||||||||
| 262.50 | 263.00 | 0.50 | 5200 | |||||||||
| 263.00 | 263.23 | 0.23 | 8100 | |||||||||
| 263.23 | 263.50 | 0.27 | 42500 | |||||||||
| 263.50 | 264.00 | 0.50 | 44400 | |||||||||
| 264.00 | 264.50 | 0.50 | 8500 | |||||||||
| 264.50 | 265.00 | 0.50 | 1200 | |||||||||
| PLN22-047 | 00N | 587771.8 | 6410794.1 | 545.4 | 51.6 | -75.6 | 199.00 | 199.50 | 0.50 | 580 | 179.0 | 353 |
| 199.50 | 200.00 | 0.50 | 740 | |||||||||
| 200.00 | 200.50 | 0.50 | 620 | |||||||||
| 200.50 | 201.00 | 0.50 | 1900 | |||||||||
| 201.00 | 201.50 | 0.50 | 400 | |||||||||
| 201.50 | 202.00 | 0.50 | 4800 | |||||||||
| 202.00 | 202.50 | 0.50 | 3900 | |||||||||
| 202.50 | 203.00 | 0.50 | 1700 | |||||||||
| 206.00 | 206.40 | 0.40 | 21100 | |||||||||
| 206.40 | 206.50 | 0.10 | 7200 | |||||||||
| 206.50 | 206.90 | 0.40 | 24000 | |||||||||
| 206.90 | 207.00 | 0.10 | 3500 | |||||||||
| 207.00 | 207.50 | 0.50 | 4200 | |||||||||
| 207.50 | 208.00 | 0.50 | 4900 | |||||||||
| 208.00 | 208.30 | 0.30 | 15800 | |||||||||
| 208.30 | 208.50 | 0.20 | 1600 | |||||||||
| 208.50 | 209.00 | 0.50 | 510 | |||||||||
| 209.00 | 209.50 | 0.50 | 420 | |||||||||
| PLN22-048 | 030S | 587695.2 | 6410701.5 | 545.1 | 54.5 | -57.8 | 246.50 | 247.00 | 0.50 | 570 | 209.0 | 356 |
| 247.00 | 247.50 | 0.50 | 1100 | |||||||||
| 247.50 | 248.00 | 0.50 | 1400 | |||||||||
| 248.00 | 248.50 | 0.50 | 530 | |||||||||
| 248.50 | 249.00 | 0.50 | 1200 | |||||||||
| 249.00 | 249.50 | 0.50 | 46600 | |||||||||
| 249.50 | 250.00 | 0.50 | 50100 | |||||||||
| 250.00 | 250.50 | 0.50 | 52400 | |||||||||
| 250.50 | 251.00 | 0.50 | 59200 | |||||||||
| 251.00 | 251.50 | 0.50 | 45600 | |||||||||
| 251.50 | 252.00 | 0.50 | 49400 | |||||||||
| 252.00 | 252.50 | 0.50 | >65535 | |||||||||
| 252.50 | 253.00 | 0.50 | 40100 | |||||||||
| 253.00 | 253.50 | 0.50 | 2300 | |||||||||
| 253.50 | 253.75 | 0.25 | 8700 | |||||||||
| 253.75 | 254.00 | 0.25 | 15300 | |||||||||
| 254.00 | 254.50 | 0.50 | 750 | |||||||||
| 254.50 | 255.00 | 0.50 | 350 | |||||||||
| 255.00 | 255.50 | 0.50 | 850 | |||||||||
| 255.50 | 256.00 | 0.50 | 870 | |||||||||
| 256.00 | 256.50 | 0.50 | 1400 | |||||||||
| 256.50 | 257.00 | 0.50 | 430 | |||||||||
| 257.00 | 257.50 | 0.50 | <300 | |||||||||
| 257.50 | 258.00 | 0.50 | 830 | |||||||||
| 258.00 | 258.50 | 0.50 | 1400 | |||||||||
| 258.50 | 259.00 | 0.50 | 2200 | |||||||||
| 259.00 | 259.50 | 0.50 | 430 | |||||||||
| 259.50 | 260.00 | 0.50 | <300 | |||||||||
| 260.00 | 260.50 | 0.50 | 580 | |||||||||
| PLN22-049 | 015N | 587675.3 | 6410743.4 | 545.4 | 56.3 | -55.5 | 245.00 | 245.50 | 0.50 | 440 | 213.1 | 359 |
| 245.50 | 246.00 | 0.50 | 430 | |||||||||
| 246.00 | 246.50 | 0.50 | 440 | |||||||||
| 246.50 | 247.00 | 0.50 | 5100 | |||||||||
| 247.00 | 247.50 | 0.50 | 5200 | |||||||||
| 247.50 | 247.70 | 0.20 | 11900 | |||||||||
| 247.70 | 248.00 | 0.30 | 6700 | |||||||||
| 248.00 | 248.50 | 0.50 | 5800 | |||||||||
| 248.50 | 249.00 | 0.50 | 6700 | |||||||||
| 249.00 | 249.50 | 0.50 | 1500 | |||||||||
| 249.50 | 250.00 | 0.50 | 1700 | |||||||||
| 250.00 | 250.50 | 0.50 | 940 | |||||||||
| 250.50 | 251.00 | 0.50 | 600 | |||||||||
| 251.00 | 251.50 | 0.50 | 7300 | |||||||||
| 251.50 | 252.00 | 0.50 | 3200 | |||||||||
| 252.00 | 252.50 | 0.50 | 1400 | |||||||||
About Patterson Lake North:
The Company's large 39,946 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.
Qualified Person:
The technical information in this news release has been prepare 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., Vice President of Exploration 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 16 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@fission3corp.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
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