F3 Uranium Corp. 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 16 projects in the Athabasca Basin.
During the fall 2022 exploration drill program, F3 Uranium made a new uranium discovery at the A1 conductor on its 100%-owned Patterson Lake North (‘PLN’) property. Discovery hole PLN22-035 intersected extremely radioactive and off-scale (>65,535 CPS) pitchblende mineralization. Uranium assay results from the discovery hole returned one continuous 15.0 m interval averaging 6.97% U3O8 including a high-grade 5.5 m interval averaging 18.6% U3O8, which further includes an ultra-high grade core which assayed 59.2% U3O8 over 1.0 m. Three follow up holes intersected up to 63,400 cps and expanded the high-grade mineralization both up-dip and 23 m along strike, grid south. A large drill program is currently being planned for winter 2023 aiming to expand the new zone. This new discovery is located 25 km northwest of the Patterson Lake area, host to Fission Uranium’s Triple R and NexGen’s Arrow world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan.
The Company’s management headed up by Dev Randhawa as CEO & Chairman and Raymond Ashley P.Geo. as Vice President Exploration, is the team that founded Fission Uranium in 2012 and made the Triple R discovery at Patterson Lake. The same team also founded Fission Energy, making the J-Zone discovery at Waterbury Lake in the eastern Athabasca Basin, and built Fission into a TSX Venture 50 Company. In April 2013 Fission Energy sold the majority of its assets to Denison Mines and certain assets were spun out into Fission Uranium.
F3 Uranium was incorporated in October 2013 as a wholly owned subsidiary of Fission Uranium. F3 Uranium Corp. is the third generation Fission run by one of Canada’s leading uranium exploration teams. On November 2013, Fission 3.0 completed a plan of arrangement under the Canada Business Corporations Act involving Alpha Mineral and Fission Uranium pursuant to which Fission Uranium acquired Alpha Minerals’ 50% interest in the Patterson Lake South (PLS) project. As a result of the transaction, certain properties and assets of Fission Uranium, including the Patterson Lake North (PLN) property, became assets of F3 Uranium Corp. which is no longer a wholly owned subsidiary of Fission Uranium.