With uranium demand soaring amid a global nuclear energy resurgence, the Athabasca Basin is taking center stage as the cornerstone of Western uranium supply. Canada’s high-grade deposits — up to 100 times richer than global averages — are now critical to energy security as the US and its allies seek to reduce reliance on Russian-enriched uranium.
F3 Uranium is at the forefront of this push, aggressively exploring its Patterson Lake North (PLN) project, where the company has already made a high-grade discovery at the JR Zone. With a veteran team that has made multiple discoveries in the region, F3 is leveraging deep data, advanced geophysics, and aggressive drilling to unlock new uranium potential in one of the world’s most strategic mining regions.
In our conversation, Sam Hartmann, VP of Exploration at F3 Uranium (TSXV: FUU), breaks down the company’s latest drilling results, the significance of PLN, and why majors are quietly increasing their presence in the Basin.
Sam Hartmann is an established geologist with extensive experience with Athabasca uranium deposits. His experience ranges from exploration and discovery, resource drilling and definition to geotechnical work. Sam’s previous company experience was with Fission Uranium where he was on the technical team that made the Triple R discovery in 2012 and over last decade took the project from discovery to feasibility, lastly as Chief Geologist.
Q&A
Christian Purefoy (The Oregon Group): Hi Sam, good to have you hear. To kick off, just give us an overview of F3 and the current focus.
Sam Hartmann (F3 Uranium): Hi, great to be here. For your readers, I’m Sam Hartmann, VP Exploration at F3 Uranium. We’re a uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada. Our primary focus is the Patterson Lake North (PLN) project, where we discovered the high-grade JR Zone in 20222. We are currently drilling out that zone while also exploring for additional zones.
Christian Purefoy (The Oregon Group): You’ve had some news in your final drill holes of 2024 program. Tell us more.
Sam Hartmann (F3 Uranium): We’ve just wrapped up our 2024 drilling program at Patterson Lake North (PLN), and we’re excited about what we’re seeing. Our final holes hit encouraging geology in key areas like the B1 conductor, the A1 extension, and near the Harrison Fault. We’re seeing strong alteration, faulting, and geochemical signatures, suggesting the potential for significant uranium mineralization.
And this is all happening just as we’ve commenced our 2025 winter drill program for PLN, including a CAD$6 million diamond drill program. And we’ve also just announced we’ve spun out 17 exploration properties into F4 Uranium Corp, allowing us to focus on the PLN project and JR Zone.
Christian Purefoy (The Oregon Group): The Athabasca Basin is attracting a lot of attention right now, driven by a nuclear energy renaissance and geopolitical concerns of secure supply chains for uranium.
Sam Hartmann (F3 Uranium): We’re seeing a lot more activity in the basin, particularly on the west side where we’re operating. This includes the majors, which is something they don’t advertise and you don’t really hear about. For example, a lot of our contractors who would normally be our go-to, don’t have capacity at the moment.
Christian Purefoy (The Oregon Group): What sets F3 apart in the region from the other explorers?
Sam Hartmann (F3 Uranium): Our edge on the other explorers in the region is, fundamentally, that we’ve seen a lot more data than most of our competitors, especially in the west side of the basin. We’ve spent more money on exploration in the last year than Cameco spent globally.
For us, exploration is our lifeblood. If we’re not drilling, we’re not creating value. And, all the money we raise, by doing exploration in the field, gets turned into ones and zeroes — we collect data. And our edge is how well we can sift through that data and leverage it to make another discovery.
Christian Purefoy (The Oregon Group): Why is your team, in particular, able to sift through that data, connect the dots, and identify the real targets better than teams at other companies in the Basin? What’s your secret?
Sam Hartmann (F3 Uranium): No secret (laughs). It’s all about experience. Our team’s track record of three major uranium discoveries in the Athabasca Basin speaks for itself. We combine aggressive exploration methods with a systematic approach to the data.
Christian Purefoy (The Oregon Group): Personalities are important in this industry, tell us more about the team.
Sam Hartmann (F3 Uranium): Well, obviously at the top we’ve gotDev Randhawa, our CEO and Chairman, who has been in the uranium business since 1996, with numerous discoveries and deals worth hundreds of millions of dollars; Raymond Ashley, our President, is a geoscientist with more than 40 years’ experience in the exploration industry. And I’ve been involved in uranium exploration for more than a decade, I was with Fission Energy Corp when they were developing the J Zone at Waterbury Lake, then with Fission Uranium Corp. for the discovery of the Triple R deposit at Patterson Lake South. I was also involved in the creation of Fission 3.0 Corp, which held the exploration properties, including Patterson Lake North.
Many members of the F3 team have worked together for many years across different companies. It’s a long-term collaboration that has built a deep understanding of the geological and technical challenges and opportunities in the basin.
And when you have a good core team, it attracts I think, good new team members as well.
Christian Purefoy (The Oregon Group): What are the key signs you look for when exploring for new uranium deposits?
Sam Hartmann (F3 Uranium): Uranium deposits are very focused, with high grades that quickly drop off outside the zone. We look for conductive zones, structural corridors, alteration, and specific pathfinder elements such as boron. We know how these geological features relate to potential mineralisation.
Christian Purefoy (The Oregon Group): How do you apply that to the Athabasca Basin?
Sam Hartmann (F3 Uranium): So, the region is known for high-grade deposits which often occur in clusters along strike, which means they appear like “pearls on a necklace” along geological structures or faults.
We’re applying this theory at PLN, where we’re using advanced geophysical techniques, like airborne electromagnetic surveys, to identify conductive trends and additional zones along the A1 and B1 shear zones, and near the Harrison Fault.
Christian Purefoy (The Oregon Group): What are some of the challenges F3 Uranium faces in its exploration efforts?
Sam Hartmann (F3 Uranium): Uranium deposits can be very small and hard to find; drilling is expensive; and it’s necessary to step out methodically in order to maximize exploration results. The deposits also have very defined edges, with grades dropping off quickly outside of the zone.
It’s why you need an experienced team.
Christian Purefoy (The Oregon Group): And the opportunities?
Sam Hartmann (F3 Uranium): We’re focused on growth, new discoveries along A1, B1 and the Harrison Fault, proving that we have a significant system that could have multiple deposits and will continue to drive the company forward.
We’re also looking to bring other areas into play, in particular, A4, PW and Broach. Those are three trends we hope to drill test this year. We hope to start with PW this winter. And, for instance, if you drill at PW, it does not historically have any conductors on it, but if we’re able to identify those with geophysics and drill into one — now, you’ve just opened up another significant amount of kilometres of potential fault-line, right?
We are also focused on building our resource at JR Zone for future resource assessments.
Christian Purefoy (The Oregon Group): F3 recently spun out 16 exploration properties into F4 Uranium Corp. How does that impact F3 and its investors?
Sam Hartmann (F3 Uranium): By spinning out the exploration properties into F4, F3 can focus on its flagship PLN project and the JR Zone. F3 shareholders have already received F4 shares, giving them new exposure to potential discoveries on those properties, as well as creating an opportunity for fresh capital to be brought into both companies.
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