Kelowna, British Columbia--(Newsfile Corp. - February 6, 2023) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUF) ("F3" or "the Company") is pleased to announce it has received final uranium assay results for the remaining fall 2022 drill holes at the JR Zone on the Patterson Lake North ("PLN") Property where off-scale radioactivity was previously confirmed as high grade uranium mineralization (see Press Release Dec 22, 2022).
Drill hole PLN22-038 targeted up dip from hole PLS22-035 and returned an 11.0 m interval averaging 4.20% U3O8 including a high-grade 4.5 m interval averaging 9.8% U3O8, which further includes the ultra-high-grade core which assayed 22.9% over 1.5 m. PLN22-038 was the second of three mineralized holes completed on line 00N, in addition to a fourth mineralized hole on line 015S. Assay results from all mineralized drill holes of the fall 2022 program are disclosed below in Table 1.
Raymond Ashley, Vice President Exploration, commented:
"Assay results from these remaining three mineralized drill holes continue to validate the high grade nature of the JR Zone, situated within the A1 main shear zone. Strong results up dip of the discovery hole, with PLN22-038 and PLN22-041 respectively, as well as along strike to the south with PLN22-040 substantiate the JR Zone which is currently being further defined and expanded during the ongoing winter drill program."
Drilling Highlights:
PLN22-038 (line 00N): mineralized intervals
- 11.0 m @ 4.20% U3O8 (240.5 m to 251.5 m), including:
- 4.5 m @ 9.8% U3O8 (244.0 m to 248.5 m), further including:
- 1.5 m @ 22.9% U3O8 (245.5 m to 247.0 m)
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The 20 hole Winter 2023 drill program is well underway, and the Company looks forward to providing an update.
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. 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 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.
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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Figure 2
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Figure 3
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