F3 Grows JR by 50% and Hits Strongest Radioactivity To Date With 6.0m Off-scale (>65,535 cps)

Steps Out 135m From Discovery Hole and Extends Strike Length to 156m

July 04, 2023 3:05 AM EDT | Source: F3 Uranium Corp.

Kelowna, British Columbia--(Newsfile Corp. - July 4, 2023) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce scintillometer results from the initial eight holes of the ongoing 30-hole summer drill program at the JR Zone on the Patterson Lake North ("PLN") Property, including four high grade intercepts. Drill hole PLN23-068 tested for mineralization 22 meters up-dip of the high grade intercept reported in PLN23-060 (see NR April 17, 2023) on line 060S and intersected mineralization over a 19.0m interval, including 6.00m off-scale radioactivity (>65,535 cps) between 234.00m and 245.00m, 5.00m of which is continuous. The JR Zone was extended grid south to line 135S, a 50% increase in the JR Zone strike length to 156m, after stepping out 30m from line 105S, where PLN23-66 hit 16.5m of composite mineralization between 219.0m and 260.5m.

Sam Hartmann, Vice President Exploration, commented:

"We are pleased with the rapid progression of this summer drill program and the results generated far. In particular PLN23-068 returned exceedingly strong results on line 60S, with mineralization starting only approximately 17 meters vertically below the Athabasca Unconformity, which remains a target for this drill program. So far we are sticking to the script and growing the mineralized footprint along strike and up-dip towards the unconformity as planned. PLN23-067 stepped out to line 135S, and although the radioactivity is less intense, there is mineralization over a 16.5 meter interval, which sets us up for further step outs towards the south. A second sonic drill in addition to a second diamond drill later this month will see the inclusion of some exploration drilling along the A1 main shear, as well as contribute to JR Zone expansion drilling."

Drilling Highlight:

PLN23-068 (line 060S):

  • 19.0m mineralization from 228.0m - 247.0m, including
    • 8.09m composite mineralization of >10,000 cps radioactivity between 233.60m - 245.00m including 6.00m off-scale radioactivity(> 65,535 cps) between 234.00m and 245.00m, of which 5.00m is continuous

Main Intercepts:

PLN23-063 (line 030S):

  • 13.5m mineralization from 233.0m - 246.5m, including
    • 0.70m continuous mineralization of >10,000 cps radioactivity between 237.30m - 238.00m
    • 0.43m continuous mineralization of >10,000 cps radioactivity between 243.73m - 244.16m

PLN23-064 (line 105S):

  • 17.5m mineralization from 233.0m - 250.5m, including
    • 0.40m composite mineralization of >10,000 cps radioactivity between 237.88m - 241.5m with a peak of 35,500 cps over 0.12m from 237.88m - 238.00m

PLN23-065 (line 0755S):

  • 3.5m mineralization from 242.0m - 245.5m

PLN23-066 (line 105S):

  • 16.5m composite mineralization from 219.0m - 260.5m, including
    • 0.21m of mineralization of > 10,000 cps radioactivity between 248.79m - 249.0m with a peak of 11,700 cps

PLN23-067 (line 135S):

  • 16.5m mineralization from 222.0m - 238.5m

PLN23-069 (line 135S):

  • 1.5m mineralization from 228.5m - 230.0m

PLN23-070 (line 135S):

  • 6.0m composite mineralization from 232.0m - 244.5m

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. Samples from the drill core are split in half on site and are standardized at 0.5m 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 IDSection LineEastingNorthingElevationAzDipFrom (m)To (m)Interval (m)Max CPS
PLN23-063030S587715.6916410720.56545.10856-61233.00233.500.501000207.1350
233.50234.000.50520
234.00234.500.502800
234.50235.000.504700
235.00235.500.501100
235.50236.000.50960
236.00236.500.505100
236.50237.000.501400
237.00237.300.306300
237.30237.500.2025300
237.50238.000.5023800
238.00238.500.502200
238.50239.000.502200
239.00239.500.50660
239.50240.000.50810
240.00240.500.50480
240.50241.000.501300
241.00241.500.50820
241.50242.000.501400
242.00242.500.501500
242.50243.000.50590
243.00243.500.502500
243.50243.730.233500
243.73244.000.2713000
244.00244.160.1616900
244.16244.500.342400
244.50246.001.50<300
246.00246.500.50440
PLN23-064105S587746.1166410646.05545.24555-58233.00233.500.50370203.0428.2
233.50234.000.50600
234.00234.500.50800
234.50235.000.50950
235.00235.500.50580
235.50236.000.50610
236.00236.500.505400
236.50237.000.502500
237.00237.500.502500
237.50237.880.382900
237.88238.000.1235500
238.00238.500.508400
238.50239.000.504100
239.00239.500.505200
239.50240.000.50800
240.00240.500.503300
240.50241.000.506100
241.00241.220.223100
241.22241.500.2811400
241.50242.000.505000
242.00242.500.502100
242.50243.000.504400
243.00243.500.50360
243.50244.000.50430
244.00244.500.50940
244.50245.000.501700
245.00245.500.503900
245.50246.000.50430
246.00246.500.50810
246.50247.000.50730
247.00247.500.50410
247.50248.000.50430
248.00248.500.50<300
248.50249.000.501100
249.00249.500.502700
249.50250.000.501100
250.00250.500.50440
PLN23-065075S587715.1246410659.46545.44755-61242.00242.500.50360198.0317
242.50243.000.50540
243.00243.500.50520
243.50244.000.501100
244.00244.500.50310
244.50245.000.50<300
245.00245.500.501300
PLN23-066105S587737.8856410640.33545.01754-60219.00219.500.50510194.2356
219.50220.000.50680
220.00220.500.50470
220.50222.001.50<300
222.00222.500.50840
222.50223.000.50770
223.00223.500.50470
223.50224.000.50830
224.00224.500.501400
224.50225.000.501100
225.00225.500.501400
225.50226.000.501600
226.00226.500.50980
226.50227.000.50940
227.00227.500.50980
239.50240.000.50370
240.00240.500.50330
240.50241.000.50560
243.50244.000.501300
244.00244.500.50370
244.50245.000.50500
245.00245.500.50500
245.50246.000.50720
246.00246.500.501400
246.50247.000.504000
247.00247.500.50500
247.50248.000.501500
248.00248.500.503800
248.50248.790.298800
248.79249.000.2111700
249.00249.500.505000
260.00260.500.50690
PLN23-067135S587771.8936410629.1544.92454-61222.00222.500.50980185.3386
222.50223.000.501300
223.00223.500.50420
223.50224.000.50<300
224.00224.500.50850
224.50225.000.50760
225.00225.500.50460
225.50226.000.50310
226.00226.500.50420
226.50227.000.50710
227.00227.500.501100
227.50228.000.50630
228.00228.500.50930
228.50229.501.00<300
229.50230.000.50330
230.00230.500.50570
230.50231.000.503400
231.00231.500.503200
231.50232.000.502300
232.00232.500.50490
232.50233.000.50460
233.00233.500.50490
233.50234.000.503100
234.00234.500.503100
234.50235.000.506300
235.00235.500.501400
235.50236.000.501400
236.00236.500.502100
236.50237.000.501900
237.00237.500.50970
237.50238.000.502800
238.00238.500.504200
PLN23-068060S587736.9626410695.49545.48354-59228.00228.500.50390209.0365
228.50230.001.50<300
230.00230.500.50410
230.50231.000.50670
231.00231.500.50730
231.50232.000.50330
232.00232.500.501700
232.50233.000.50820
233.00233.500.502400
233.50233.600.106000
233.60234.000.4062100
234.00234.500.50>65535
234.50234.740.244900
234.74234.800.0613600
234.80235.000.209600
235.00235.500.50>65535
235.50236.000.50>65535
236.00236.500.50>65535
236.50237.000.50>65535
237.00237.500.50>65535
237.50238.000.50>65535
238.00238.500.50>65535
238.50239.000.50>65535
239.00239.500.50>65535
239.50240.000.50>65535
240.00240.250.256700
240.25240.500.2512800
240.50240.900.407200
240.90241.000.1010100
241.00241.170.176100
241.17241.500.3313100
241.50242.000.503100
242.00242.150.157200
242.15242.500.3523200
242.50243.000.501800
243.00243.200.20710
243.20243.500.3011300
243.50243.800.3018600
243.80244.000.203200
244.00244.500.503800
244.50245.000.50>65535
245.00245.500.502500
245.50246.000.503400
246.00246.500.50620
246.50247.000.50440
PLN23-069135S587780.3626410634.04544.93455-60228.50229.000.502400191.7308
229.00229.500.501300
229.50230.000.50310
PLN23-070135S587764.9286410620.11544.854-62232.00232.500.50300185.1353
232.50233.000.50<300
233.00233.500.50440
240.00240.500.50320
240.50241.000.50480
241.00241.500.50<300
241.50242.000.501400
242.00243.501.50<300
243.50244.000.50520
244.00244.500.50350

 

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

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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