Kelowna, British Columbia--(Newsfile Corp. - June 12, 2024) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce assay results for fifteen drillholes from the winter 2024 drill program, including PLN24-116 which was cored in the JR Zone (see NR January 30, 2024) and which returned 12.0m of 7.6% U3O8, including a high grade 8.0m interval averaging 11.2% U3O8, further including an ultra-high grade core of 2.0m of 31.4% U3O8. The ongoing summer exploration drilling around the southern end of A1 and northern end of B1 continues to yield excellent structure with intermittent anomalous radioactivity, with PLN24-152 intercepting two distinct radioactive intercepts with up to 760 cps.
Exploration is proceeding with two diamond drills, one focused on systematically testing the A1 shear using short holes, infilling along strike in areas with low drillhole density and intercepting intermittent weak radioactivity. The second diamond drill is currently focusing on the area between the southern end of the A1 shear and the B1 shear, an area of structural complexity marked by the cross-cutting Harrison fault, with related A1 shear splays interpreted as fault horses on the footwall side of the Harrison fault. Of particular interest is PLN24-152 (see Photo 1) which intersected two radioactive intervals within graphitic and clay altered shear zones including the main A1 shear.
A large-scale ground gravity survey, including coverage over the A1 and B1 shears is still in progress.
Sam Hartmann, Vice President Exploration, commented:
"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."
Winter 2024 JR Assay Highlight:
PLN24-116 (line 075S):
- 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)
Winter 2024 Exploration Geochemistry Highlights:
PLN24-122 (line 3450S) B1 Exploration:
- 0.5m @ 178 ppm U, 0.022 % U3O8 (596.5m to 597.0m)
PLN24-131 (line 795S) A1 Exploration:
- 0.5m @ 100 ppm U, 0.010 % U3O8 (252.5m to 253.0m)
Summer 2024 Handheld Spectrometer Highlights:
PLN24-149 (line 795S) A1 Shear Exploration:
- 0.5m radioactivity from 196.5m - 197m, with a peak radioactivity of 430 cps
PLN24-152 (line 2850S) A1/B1 Shear Exploration:
- 1.5m radioactivity from 351.0m - 352.5m, with a peak radioactivity of 460 cps, and
- 0.5m radioactivity from 436.0m - 436.5m, with a peak radioactivity of 340 cps, and
- 0.5m radioactivity from 440.5m - 441.0m, with a peak radioactivity of 760 cps
PLN24-157 (line 2745S) A1/B1 Shear Exploration:
- 0.5m radioactivity from 460.0m - 460.5m, with a peak radioactivity of 380 cps, and
- 1.0m radioactivity from 558.5m - 559.5m, with a peak radioactivity of 730 cps
PLN24-158 (line 2040S) A1 Exploration:
- 0.5m radioactivity from 179.5m - 180.0m, with a peak radioactivity of 530 cps
PLN24-160 (line 2430S) A1 Exploration
- 0.5m radioactivity from 172.5 - 173.0m, with a peak radioactivity of 430 cps
Photo 1. PLN24-152 Mineralized Intervals
Table 1. Drill Hole Summary and Uranium Assay Results
| Collar Information | Assay Results | |||||||||
| Hole ID | Grid Line | Easting | Northing | Elevation | Az | Dip | From (m) | To (m) | Interval (m) | U3O8 weight % |
| PLN24-116 | 075S | 587757.9 | 6410697.1 | 546.0 | -65.5 | 54.3 | 224.00 | 227.00 | 3.00 | 3.49 |
| 227.00 | 229.00 | 2.00 | 31.4 | |||||||
| incl | 228.00 | 228.50 | 0.50 | 47.8 | ||||||
| 229.00 | 232.50 | 3.50 | 4.72 | |||||||
| incl | 231.00 | 231.50 | 0.50 | 10.4 | ||||||
| 232.50 | 236.00 | 3.50 | 0.24 | |||||||
| 272.00 | 272.50 | 0.50 | 2.33 | |||||||
| PLN24-117 | 000 | 587655.7 | 6410710.8 | 544.7 | -54.4 | 54.1 | 262.50 | 267.50 | 5.00 | 0.09 |
| PLN24-118 | 3240S | 589686.9 | 6408181.3 | 534.7 | -70.7 | 54.0 | B1 Exploration; no mineralization >0.05 | |||
| PLN24-119 | 045S | 587688.1 | 6410678.8 | 545.3 | -62.1 | 54.2 | 256.50 | 259.00 | 2.50 | 0.05 |
| 265.50 | 266.00 | 0.50 | 0.18 | |||||||
| 268.50 | 269.00 | 0.50 | 0.12 | |||||||
| PLN24-120 | 150S | 587778.3 | 6410614.7 | 545.6 | -59.8 | 53.9 | no mineralization >0.05 | |||
| PLN24-121 | 090N | 587651.1 | 6410818.9 | 545.4 | -60.2 | 52.4 | no mineralization >0.05 | |||
| PLN24-122 | 3450S | 589879.7 | 6408062.4 | 538.4 | -66.0 | 55.2 | B1 Exploration; no mineralization >0.05 | |||
| PLN24-123 | 015N | 587736.6 | 6410788.7 | 545.6 | -65.5 | 54.9 | no mineralization >0.05 | |||
| PLN24-124 | 240S | 587846.9 | 6410598.5 | 546.0 | -66.7 | 78.6 | A1 Exploration; no mineralization >0.05 | |||
| PLN24-125 | 090N | 587634.3 | 6410806.6 | 545.2 | -60.2 | 51.9 | no mineralization >0.05 | |||
| PLN24-126 | 3555S | 589878.4 | 6407928.7 | 532.2 | -61.3 | 55.2 | B1 Exploration; no mineralization >0.05 | |||
| PLN24-127 | 045S | 587794.4 | 6410756.0 | 545.7 | -60.5 | 54.8 | no mineralization >0.05 | |||
| PLN24-128 | 030S | 587749.6 | 6410742.4 | 545.7 | -60.4 | 53.5 | 216.50 | 217.50 | 1.00 | 0.15 |
| PLN24-129 | 015S | 587747.0 | 6410758.9 | 545.7 | -61.5 | 54.2 | 215.00 | 220.00 | 5.00 | 0.70 |
| PLN24-130 | 1005S | 589527.1 | 6410832.3 | 539.1 | -65.0 | 55.1 | Exploration; no mineralization >0.05 | |||
| PLN24-131 | 795S | 588288.1 | 6410188.1 | 532.5 | -65.1 | 55.0 | A1 Exploration; no mineralization >0.05 | |||
Assay composite parameters:
1: Minimum Thickness of 0.5 m
2: Assay Grade Cut-Off: 0.05% U3O8 (weight %)
3. Maximum Internal Dilution: 2.0 m
Table 2. 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 | ||
| PLN24-146 | 2850S | 589424.5 | 6408454.7 | 533.3 | -78.3 | 50.7 | B1 MSZ Exploration; no radioactivity >300 cps | 167.8, 274.4, 314.0 | 737 | |||
| PLN24-147 | 2370S | 589105.9 | 6408835.4 | 543.7 | -70.4 | 56.9 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 293 | |||
| PLN24-148 | 2280S | 589072.1 | 6408921.7 | 543.9 | -73.9 | 55.5 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 296 | |||
| PLN24-149 | 795S | 588316.1 | 6410208.7 | 530.8 | -58.9 | 53.9 | 196.50 | 197.00 | 0.50 | 430 | n.a. | 296 |
| PLN24-150 | 1125S | 588460.1 | 6409904.8 | 533.3 | -70.3 | 58.1 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 275 | |||
| PLN24-151 | 1530S | 588676.0 | 6409561.0 | 544.5 | -70.4 | 54.1 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 305 | |||
| PLN24-152 | 2850S | 589259.2 | 6408356.8 | 537.2 | -67.8 | 53.1 | 351.00 | 351.50 | 0.50 | 460 | 179.9 | 626 |
| 351.50 | 352.00 | 0.50 | <300 | |||||||||
| 352.00 | 352.50 | 0.50 | 420 | |||||||||
| 436.00 | 436.50 | 0.50 | 340 | |||||||||
| 440.50 | 441.00 | 0.50 | 760 | |||||||||
| PLN24-153 | 555S | 588064.4 | 6410322.0 | 534.6 | -72.0 | 55.6 | A1 MSZ Exploration; no radioactivity >300 cps | 125.0 | 293 | |||
| PLN24-154 | 2100S | 587534.1 | 6408053.1 | 531.8 | -60.2 | 35.9 | A3 Exploration; no radioactivity >300 cps | n.a. | 386 | |||
| PLN24-155 | 1215S | 588507.3 | 6409827.9 | 536.4 | -69.9 | 58.0 | A1 MSZ Exploration; no radioactivity >300 cps | 108.7 | 266 | |||
| PLN24-156 | 1335S | 588571.3 | 6409726.1 | 543.9 | -70.0 | 53.2 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 296 | |||
| PLN24-157 | 2745S | 589215.3 | 6408451.4 | 540.7 | -65.3 | 54.2 | 460.00 | 460.50 | 0.50 | 380 | 153.0 | 614 |
| 558.50 | 559.00 | 0.50 | 380 | |||||||||
| 559.00 | 559.50 | 0.50 | 730 | |||||||||
| PLN24-158 | 2040S | 588934.9 | 6409122.9 | 543.9 | -70.1 | 56.5 | 179.50 | 180.00 | 0.50 | 530 | n.a. | 329 |
| PLN24-159 | 2235S | 589041.3 | 6408957.5 | 543.2 | -70.5 | 52.4 | A1 MSZ Exploration; no radioactivity >300 cps | n.a. | 293 | |||
| PLN24-160 | 2430S | 589122.8 | 6408773.1 | 543.4 | -71.5 | 59.0 | 172.50 | 173.00 | 0.50 | 430 | n.a. | 299 |
Handheld spectrometer composite parameters:
1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m
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.
Composited weight % U3O8 mineralized intervals are summarized in Table 1. Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.
The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as "high grade" and results greater than 20.0 weight % U3O8 as "ultra-high grade".
All depth measurements reported are down-hole and true thickness are yet to be determined.
About Patterson Lake North:
The Company's 4,078-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., President & COO 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 20 properties 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 the 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 because 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
See cross section at PLN JR Zone|F3 Uranium Corp. under "Sections"
Map #1
Map #2