Projects

The North Shore Property is located in Alberta along the northwest edge of the Athabasca Basin and is accessible by fixed wing aircraft and helicopter from Fort McMurray or Fort Chipewyan, Alberta.

The North Shore land package consists of 15 Metallic and Industrial permits totaling 41,886 hectares.

The North Shore property became part of the F3 Uranium Corp. portfolio as part of the Fission Uranium/Alpha Minerals agreement in December 2013.

On August 22, 2012, the Alberta Government adopted the Lower Athabasca Regional Plan, which restricted mineral exploration activities on 11 of the 28 MAIM permits by creating new conservation lands, in addition to recreation and tourism areas. F3 Uranium has received financial compensation for 100% of expenditures related to this portion of the project, and for loss of future opportunities. Exploration is allowed and will continue on the unaffected MAIM permits, which currently cover an area of 44,830 ha contained within 16 MAIM permits.

The western portions of the Athabasca Basin were initially explored in the 1960’s as exploration activities expanded outward from the established Beaverlodge uranium district. An extensive exploration program conducted by Uranerz Exploration and Mining Limited (“Uranerz”) of the northwest margin of the Athabasca Basin, led to the discovery of the Maurice Bay boulder fan in 1976 (Harper, 2006), and the first significant in situ uranium mineralization intersected in drill hole MB 14 in 1977. Delineation drilling eventually outlined the Maurice Bay uranium deposit which is reported to host 1.3 million pounds of U₃O₈ at a grade of 0.6% (a historical non 43-101 compliant resource estimate). The deposit includes structurally controlled mineralization within altered basement rocks and at the sub-Athabasca unconformity.

During the summer of 2006, Dahrouge Geological Consulting Ltd. (DGC), on behalf of Strathmore Minerals Corp., conducted a ground scintillometer prospecting and sampling program on the Property. The intent of the exploration was to locate areas of anomalous surface uranium concentrations and alteration associated with unconformity and sub-unconformity-type deposits. Exploration resulted in the identification of several areas of anomalous radioactivity with outcrops measuring from <150 to >13,500 counts per second (cps). An anomalous sandstone boulder was also discovered with radioactivity exceeding 30,000 cps. In addition, several trends of anomalous radioactivity were identified, as well as several areas of extensive alteration. A total of 92 samples were collected throughout the property with assays ranging from trace up to 1.39% U₃0₈.

In the fall of 2006, approximately 18 km of survey lines were cut and follow-up ground Max-Min and IP/Resistivity surveys were carried out by Peter E. Walcott and Associates Ltd. with the intent of locating conductive targets. In addition, several more days of ground prospecting resulted in 32 additional samples. The survey targeted a pitchblende/autunite showing visited during the 2006 prospecting program. A narrow resistivity low was discovered trending sub-parallel to the grid to the north of the showing. It is interpreted to represent a possible fault and/or shear zone. Higher chargeabilities appear to be associated with the zone.

The 2007 to 2008 exploration program on the NS Property included a 2,700 km airborne radiometric survey by Terraquest Airborne Survey Ltd, a 696 line-km airborne high resolution magnetic and electromagnetic (VTEM) survey in the northeast part of the property flown by Geotech Ltd., and a seven-hole 1,260m diamond drilling program. Also, in August 2007 a total of 51 outcrop samples were collected from permit 9305031044, highlighted by an assay high of 0.11% U₃O₈. The interpretation of the airborne radiometric data identified a total of fifteen regions of interest using all datasets and prioritized these regions of interest via cross-validation. Initial interpretation of the VTEM survey outlined a possible southwest extension of the McKenzie Mylonite Zone along the northwest shore of Lake Athabasca. The Maurice Bay Deposit of Cameco Corp. is associated with this structure. The known existence of uranium mineralization along this zone substantially increases the potential of continued mineralization onto the North Shore property. The drill program concentrated on the zone mentioned above. Strong alteration and radioactivity were intersected along this structure at downhole depths up to 185 meters, with widths ranging from less than one meter to 8.5 meters. The basement hosted altered zones contained highly anomalous concentrations of geochemical pathfinder elements and included uranium values ranging as high as 70.5 ppm, associated copper values up to 984 ppm, and occasionally anomalous zinc up to 216 ppm.

In August 2013, Fission Uranium completed a $795,000, 12,257 line-km high-resolution airborne magnetic and radiometric survey at 50m line spacing over the property, revealing two significant and strongly radioactive uranium-source anomalous regions.

In September 2013, ground follow-up, prospecting and sampling was conducted at the property. A newly found Fair Point Formation sandstone outcrop, 300 m long, forms a prominent shore cliff, showing that existing mapping is patchy and reconnaissance scale at best. The unconformity is well exposed, and prominently faulted. Samples of the outcrop, and sandstone boulders along the one other place visited in the south indicate the presence of chloritized, hydrothermally altered sandstone. The outcrop sample had an anomalous REE distribution similar to what is seen in the mineralized sandstone boulders found on the northern claims, and to the ore zone in the Maybelle deposit. Given the pattern of sandstone deposition overlapping the main basin edge, virtually all fault zones on the property have the potential of hosting Athabasca Group outliers, or of regolith and rock hydrothermally altered after sandstone deposition. These fault zones form about 20 obvious prospective zones.