The Midas Property was merged with the Thompson Lake Property in late 2017, and consists of 14 non-contiguous claims totaling 8,896 ha covering an area approximately 10 km wide by 28 km long in a northeast-southwest orientation, located within two km of the community of Uranium City, SK. The property was acquired by F3 Uranium Corp. by staking in May 2013, August and September 2014, March and April 2015, and December 2017.
A high resolution airborne magnetic and radiometric survey was conducted in September 2013 The analysis of the potential field data indicates the geological setting of the project area is complicated, and numerous lineaments are related to contacts and structures between basement units. The survey area is characterized by a northeast-southwest trending magnetic fabric, parallel to the Black Bay Fault and is permeated with a lattice of dominant structural corridors aligned in both the east-west and north-south directions.
In September 2017 a geological prospecting survey concentrated on sampling seven showings which included priority radiometric anomalies from the 2013 airborne survey. One of these was the favourably located Ledo showing, with grab samples running up to 0.29% U3O8. Ground geophysical surveys were conducted during August to September 2017 including ‘Multiple Gradient Resistivity’ Inducted Polarization and Horizontal Loop Electromagnetics (HLEM). The ground resistivity survey was conducted over one of the most intense conductivity bright spots along a NE-trending conductor interpreted from an earlier airborne VTEM survey by JNR Resources Inc. The modified IP survey successfully imaged basement resistivities despite a very high conductive background. The HLEM survey confirmed that this survey type could not resolve subsurface conditions due to the highly conductive background.