F3 Uranium drills 20.5 m of mineralization at PLN Mr. Dev Randhawa reports
F3 EXPANDS B1 SHEAR BY 80% WITH 700M STEP-OUT HOLE
F3 Uranium Corp. has released the results from recent JR zone high-grade infill summer drilling, highlighted by PLN24-161, which intersected mineralization over 12.0 metres, including 2.0 m of high grade (greater than 10,000 counts per second) also hosting 0.71 m of composite off-scale mineralization (greater than 65,535 cps). Drill hole PLN24-163 at JR intersected 0.90 m of composite high-grade mineralization (greater than 10,000 cps) within 20.5 m of mineralization (greater than 300 cps). JR zone infill holes targeted areas of low drill hole density within the high-grade core of the zone. These holes help to improve and define the continuity of grade within the JR zone.
F3 engaged Computational Geosciences to provide new geologically constrained inversions of ground-loop time-domain electromagnetic (GTEM) and direct-current (DC) resistivity data already collected on the ground. These parametric models of electric conductivity defined a clear extension of the B1 trend, which was tested and validated with drill hole PLN24-168, a 700 m stepout along strike from PLN24-126, which was the most southeasterly hole along the B1 shear zone previously and 1,300 m from its northwest end. Drill hole PLN24-168 intersected a 14.2 m strongly prospective and wide clay-altered graphitic shear zone approximately 110 m below the Athabasca unconformity in the downdip direction. Additionally, the inversion indicated the B1 conductor trend to continue to the southeast an additional 700 m to the edge of the survey block, resulting in an approximately 80-per-cent increase in the total implied strike length of the B1 shear zone to 2.7 kilometres.
Sam Hartmann, vice-president, exploration, commented: "PLN24-168 was collared on line 4245S, approximately 1.2 km along strike from the Harrison fault and PLN24-152 area, opening up an additional 700 m of prospective strike from previous drilling. This wildcat hole was collared conservatively, testing the newly defined conductive feature well below the Athabasca unconformity; an altered and strongly graphitic shear representing the continuation of B1 was intersected as predicted from the conductivity model; it also exhibited elevated radioactivity averaging 200 cps peaking up to 240 cps; although that doesn't quite meet our reporting threshold of 300 cps, it adds to the prospectivity and follow-up holes are now being planned for that area. Geochemistry results from this ongoing drill program are being integrated into our models and drill plans as they arrive, which is assisting us with targeting with greater confidence."
Summer 2024 JR zone hand-held spectrometer highlights:
- PLN24-161 (line 035S) -- 12.0 m interval with mineralization from 205.0 m to 217.0 m:
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- Including 0.71 m composite off-scale radioactivity (greater than 65,535 cps) between 208.2 m and 209.25 m;
- PLN24-163 (line 095S) -- 20.5 m interval of mineralization between 197.0 m to 217.5 m:
- Including 0.90 m composite high-grade mineralization (greater than 10,000 cps) between 205.25 m and 206.5 m.
Summer 2024 exploration hand-held spectrometer highlights:
- PLN24-167 (line 3450S) -- B1 exploration: 0.5 m mineralized interval from 453.5 m to 454.0 m.
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a hand-held Radiation Solutions RS-125 scintillometer. The company considers greater than 300 cps on the handheld spectrometer as anomalous, greater than 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 downhole and true thickness are yet to be determined.
About Patterson Lake North
The company's 4,078-hectare, 100-per-cent-owned Patterson Lake North (PLN) property is located just within the southwestern 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 23 km 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, PGeo, president and chief operating officer of F3 Uranium, 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 discoveries. F3 Uranium currently has 20 projects in the Athabasca basin. Several of F3's projects are near large uranium discoveries, including Triple R, Arrow and Hurricane. F3 has announced a transaction pursuant to which it will transfer 17 of its prospective uranium exploration properties to F4 in exchange for common shares of F4, which will be distributed to F3 shareholders on the basis of one F4 share for every common share of F3 held; the F4 shares will then be rolled back at a rate of 1:10. F3 will retain the PLN project, consisting of the PLN, Misto and Broach properties. The Broach property incorporates the PW property which it obtained from Canalaska as the result of a property swap.