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F3 Hits 18.0m of 8.8% U3O8 and Discovers Another Shear Zone Parallel to A1


Kelowna, British Columbia--(Newsfile Corp. - August 14, 2023) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce expedited assay results for PLN23-068 (see NR July 17, 2023) which returned 18.0m of 8.8% U3O8, including a high grade 11.5m interval averaging 13.7% U3O8, further including an ultra-high grade core of 4.5m of 30.1% U3O8. Significant mineralization over a 17.0m interval was intersected in PLN23-079 on line 045S, including 3.0m off-scale radioactivity (>65,535 cps) between 235.50 -239.00, of which 2.50m is continuous.

Drillhole PLN23-078 targeted the A1B EM conductor, which is parallel and laterally offset by approximately 350m to the A1 Main Shear Zone and starts approximately 2.3km grid south of the JR Zone; interpreted to be part of the JR structural system, this 1,100m long geophysical feature was drill tested for the first time and corresponded to a 15.6m wide graphitic and sulphide rich shear zone. Although there was no anomalous radioactivity associated with the single intercept, the structure itself has enough similarities with the A1 main shear zone to warrant follow up drill testing and was coined the A1B shear zone.

JR Zone drilling, as well as exploration drilling continues with two diamond drills and one sonic drill; advances with sonic casing efficiencies have allowed the program to operate with one sonic drill versus the originally budgeted two; these savings are significant enough to add additional drilling to the summer program within the originally planned summer budget and F3 now projects to drill up to 40 holes totaling 16,000m.

Sam Hartmann, Vice President Exploration, commented:

"These first assay results of the season didn't disappoint, with PLN23-068 from line 60S yielding the best grade thickness intercept at the JR Zone to date, as was indicated from the initial scintillometer results. PLN23-079 stepped out along strike of this hole on line 45S and intersected significant off-scale mineralization. Chasing that further up-dip with PLN23-086 resulted in 23.5m of mineralization - the widest interval intersected to date - and starting at just 6m below the unconformity, which still remains un-tested. Maiden exploration drilling of the A1B EM conductor resulted in the discovery of a parallel shear zone sharing many of the hallmarks that identify the A1 main shear zone. This may indicate the JR structural system to be a more complex package than we initially thought. The potential for the A1B shear to host uranium mineralization is too great to remain untested, and we plan for additional drilling along it; in particular towards the southern end where the conductivity appears to drop off, similar to the northern end of the A1 conductor where the JR Zone is located. Fortunately, we were also able to increase our planned summer meterage due to field cost savings."

Assay Highlight:

PLN23-068 (line 060S):

  • 18.0m @ 8.8% U3O8 (230.5m to 248.5m), including:
  • 11.5m @ 13.7% U3O8 (233.5m to 245.0m), further including
  • 4.5m @ 30.1% U3O8 (235.0 m to 239.5m)

Main Scintillometer Intercepts:

PLN23-077 (line 090S):

  • 9.5m mineralization from 227.0m - 236.5m, including
    • 0.49m continuous mineralization of >10,000 cps radioactivity between 234.21m - 234.70m with a peak radioactivity of 34,600 cps

PLN23-078 (line 1640S):

  • Discovery of A1B shear zone
    • 16.5m graphitic shear zone from 226.7m - 242.3m

PLN23-079 (line 045S):

  • 17.0m mineralization from 230.5m - 247.5m, including
    • 5.1m composite mineralization of >10,000 cps radioactivity between 233.10m - 239.40m including 3.0m off-scale radioactivity (>65,535 cps) between 235.50 -239.00, of which 2.50m is continuous

PLN23-081 (line 060S):

  • 1.5m mineralization from 215.0m - 216.5m with a peak radioactivity of 2,300 cps

PLN23-083 (line 030S):

  • 4.5m composite mineralization from 225.5m - 234.5m, including
    • 0.34m mineralization of >10,000 cps radioactivity between 226.66m - 227.00m with a peak radioactivity of 19,300 cps

PLN23-084 (line 075S):

  • 12.5m composite mineralization from 232.0m - 244.5m, including
    • 0.75m mineralization of >10,000 cps radioactivity between 235.25m - 238.5m with a peak radioactivity of 19,200 cps

PLN23-086 (line 045S):

  • 23.5m mineralization from 213.5m - 237.0m, including
    • 1.59m composite mineralization of >10,000 cps radioactivity between 232.12m - 234.00m including 0.46m composite off-scale radioactivity (>65,535 cps)

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 %
PLN23-068 060S 587737.0 6410695.5 545.5 54.2 -58.9 230.50 233.50 3.00 0.108
              233.50 245.00 11.50 13.7
            incl 235.00 239.50 4.50 30.1
              245.00 248.50 3.50 0.156​

 

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
PLN23-075 1680S 588735.8 6409419.2 543.8 55.6 -54.9 exploration; no radioactivity >300 cps n/a 425
PLN23-076 195S 587828.1 6410595.1 545.5 53.5 -57.3  no radioactivity >300 cps 181.6 299
PLN23-077 090S 587760.0 6410675.1 544.7 53.7 -59.2 227.00 227.50 0.50 990 203.7 335
              227.50 228.00 0.50 680    
              228.00 228.50 0.50 890    
              228.50 229.00 0.50 2200    
              229.00 229.50 0.50 2200    
              229.50 230.00 0.50 1600    
              230.00 230.50 0.50 3100    
              230.50 231.00 0.50 390    
              231.00 231.50 0.50 370    
              231.50 232.00 0.50 640    
              232.00 233.00 1.00 <300    
              233.00 233.50 0.50 590    
              233.50 234.00 0.50 920    
              234.00 234.21 0.21 2200    
              234.21 234.50 0.29 34600    
              234.50 234.70 0.20 22900    
              234.70 235.00 0.30 6300    
              235.00 235.50 0.50 1100    
              235.50 236.00 0.50 460    
              236.00 236.50 0.50 420    
PLN23-078 2640S 589375.5 6408704.6 543.0 62.4 -54.9 exploration; no radioactivity >300 cps 158.7 444
PLN23-079 045S 587731.1 6410710.1 545.3 54.9 -61.1 230.50 231.00 0.50 330 207.9 353
              231.00 231.50 0.50 300    
              231.50 232.00 0.50 670    
              232.00 232.50 0.50 990    
              232.50 233.00 0.50 1100    
              233.00 233.10 0.10 7000    
              233.10 233.50 0.40 22700    
              233.50 234.00 0.50 30100    
              234.00 234.50 0.50 2100    
              234.50 235.00 0.50 6800    
              235.00 235.20 0.20 2300    
              235.20 235.50 0.30 38600    
              235.50 236.00 0.50 >65535    
              236.00 236.50 0.50 >65535    
              236.50 237.00 0.50 >65535    
              237.00 237.50 0.50 >65535    
              237.50 238.00 0.50 >65535    
              238.00 238.50 0.50 51200    
              238.50 239.00 0.50 >65535    
              239.00 239.40 0.40 35500    
              239.40 239.50 0.10 2800    
              239.50 240.00 0.50 560    
              240.00 240.50 0.50 490    
              240.50 241.00 0.50 340    
              241.00 241.50 0.50 670    
              241.50 242.00 0.50 550    
              242.00 243.00 1.00 <300    
              243.00 243.50 0.50 440    
              243.50 244.00 0.50 580    
              244.00 244.50 0.50 <300    
              244.50 245.00 0.50 420    
              245.00 245.50 0.50 550    
              245.50 247.00 1.50 <300    
              247.00 247.50 0.50 480    
PLN23-080 045N 587667.2 6410774.0 545.2 54.6 -60.3  no radioactivity >300 cps 200.2 287
PLN23-081 060S 587765.5 6410716.9 545.8 54.1 -60.9 215.00 215.50 0.50 2200 196.0 320
              215.50 216.00 0.50 2300    
              216.00 216.50 0.50 430    
PLN23-082 435S 587984.7 6410423.2 531.4 54.0 -49.6 exploration; no radioactivity >300 cps 169.6 401
PLN23-083 030S 587731.4 6410728.2 545.3 53.9 -59.4 225.50 226.00 0.50 610 203.0 311
              226.00 226.50 0.50 2500    
              226.50 226.66 0.16 4500    
              226.66 227.00 0.34 19300    
              227.00 227.50 0.50 8700    
              227.50 228.00 0.50 610    
              232.50 233.00 0.50 500    
              233.00 233.50 0.50 1100    
              233.50 234.00 0.50 1200    
              234.00 234.50 0.50 6900    
PLN23-084 075S 587744.1 6410682.2 545.4 55.5 -60.3 232.00 232.50 0.50 7200 206.2 290
              232.50 233.00 0.50 7300    
              233.00 233.50 0.50 1300    
              233.50 234.00 0.50 430    
              234.00 234.50 0.50 640    
              234.50 235.00 0.50 4500    
              235.00 235.25 0.25 7700    
              235.25 235.50 0.25 13300    
              235.50 236.00 0.50 1300    
              236.00 236.50 0.50 2200    
              236.50 237.00 0.50 2800    
              237.00 237.50 0.50 1300    
              237.50 238.00 0.50 8500    
              238.00 238.50 0.50 19200    
              238.50 239.00 0.50 1300    
              239.00 239.50 0.50 1100    
              239.50 240.00 0.50 770    
              240.00 240.50 0.50 1400    
              240.50 241.00 0.50 1700    
              241.00 242.00 1.00 >300    
              242.00 242.50 0.50 490    
              242.50 243.00 0.50 1700    
              243.00 243.50 0.50 >300    
              243.50 244.00 0.50 330    
              244.00 244.50 0.50 530    
PLN23-085 300S 587846.1 6410453.0 527.5 48.5 -45.1 exploration; no radioactivity >300 cps 182.1 389
PLN23-086 045S 587742.2 6410718.2 545.2 55.4 -60.4 213.50 214.00 0.50 310 203.8 335
              214.00 215.00 1.00 <300    
              215.00 215.50 0.50 320    
              215.50 216.50 1.00 <300    
              216.50 217.00 0.50 300    
              217.00 220.50 3.50 <300    
              220.50 221.00 0.50 330    
              221.00 221.50 0.50 530    
              221.50 222.00 0.50 570    
              222.00 222.50 0.50 350    
              222.50 223.00 0.50 <300    
              223.00 223.50 0.50 1700    
              223.50 224.00 0.50 1100    
              224.00 226.00 2.00 <300    
              226.00 226.50 0.50 320    
              226.50 227.50 1.00 <300    
              227.50 228.00 0.50 300    
              228.00 228.50 0.50 <300    
              228.50 229.00 0.50 450    
              229.00 229.50 0.50 720    
              229.50 230.00 0.50 2400    
              230.00 230.50 0.50 2000    
              230.50 231.00 0.50 1100    
              231.00 231.50 0.50 450    
              231.50 232.00 0.50 1400    
              232.00 232.12 0.12 9900    
              232.12 232.50 0.38 >65535    
              232.50 233.00 0.50 >65535    
              233.00 233.21 0.21 31400    
              233.21 233.50 0.29 9900    
              233.50 234.00 0.50 >65535    
              234.00 234.50 0.50 430    
              234.50 235.00 0.50 350    
              235.00 235.50 0.50 680    
              235.50 236.00 0.50 440    
              236.00 236.50 0.50 <300    
              236.50 237.00 0.50 360    

 

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 in 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 but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

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 18 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

See plan maps and cross sections below.

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Figure 1. Patterson Lake North Summer 2023 Drill Program Update, Map 1: Assay Results

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Figure 2. Patterson Lake North Summer 2023 Drill Program Update Map 1: Scintollometer Results

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Figure 3. Patterson Lake North Summer 2023 Drill Program Update Map 2

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