Key Lake Road Projects

Hobo Lake

Key Points of Interest

  • The claim block area straddles the Archean/Aphebian unconformity and is underlain to the west by Archean granite gneiss and to the east by Aphebian-aged metasediments of the Wollaston Fold Belt. The metasedimentary rocks are composed of pelitic schists and gneisses (some of which are graphite-bearing), meta-arkoses, and calcareous units, including calc-silicates and calcareous meta-arkoses. They are cut by pegmatitic bands and lenses that are generally concordant with strike.
  • Airborne VTEM surveys have traced an EM conductor corridor that runs at least 50 km along the length of the property.
  • The historic Karpinka Lake Uranium Showing occurs within the north end of the property, which consists of a series of five discontinuous low grade zones of stratabound uranium mineralization. Of these, the George Zone displays a strike length of 2.2 kilometres and a width varying from 1.0 to 3.0 metres. Disseminated uraninite occurs within a sillimanitic, pyritic meta-arkose horizon. Adjacent to the east is the Karpinka Lake radioactive boulder train, a 1.2 kilometre long fan-shaped collection of over 100 boulders containing disseminated uraninite and uranothorite and assaying up to 3525 ppm uranium. Drilling up-ice by Getty Minerals returned up to 0.166% U3Oover 1 metre. A source for the boulders has not been determined.
  • Prospecting by Forum Uranium Corp. in 2004/2005 led to the discovery of several more uranium mineralized zones along the length of the property, associated with moderate to strong conductive zones attributed to graphitic pelitic gneisses unconformably overlying Archean granitic gneisses. Drilling within these zones included DDH DD-08 which returned up to 313 ppm uranium over 0.3 metres within a tectonized graphitic pelitic gneiss, which was encountered from 5 metres depth to 145 metres depth. Grab sampling in the southern part of the property has returned up to 2% U3O8 in calc-silicate outcrops.
  • The Key Lake Road runs up the entire length of the property, providing easy access to all areas.
  • The exploration target is high grade basement hosted root zone uranium mineralization associated with an eroded unconformity-type uranium deposit.
  • The project consists of 42 non-contiguous mineral claims covering an area approx 50 kilometres long, totaling 24,985 ha and is 100% owned by F3 Uranium Corp.. The property was merged with the former Millson Lake and Karpinka Lake properties, also held by F3 Uranium Corp., in 2018 and 2019 respectively. Excellent road access is provided by Hwy 914 (Key Lake Road) that runs through the centre of the property. Hobo Lake is located 40 kilometres south of the southeast edge of the Athabasca Basin, along the transition zone between the Wollaston domain and the Mudjatik domain, host to producing uranium deposits such as McArthur River and Cigar Lake. The Key Lake Shear Zone, host to several uranium mineralized zones discovered by Forum Uranium Corp. from 2005 to 2008, transects the west portion of the Property, and trends northeast to the past-producing Key Lake deposits at the basin edge.

    During July 2017 a VTEMTM Plus airborne geophysical survey was conducted over 670 line-kilometres in two survey blocks.  The VTEM survey was instrumental in supplementing historic VTEM surveys carried out by Forum Uranium Corp. and defining conductors over the entire project area.

    In the summer of 2018 a high resolution airborne magnetic and radiometric survey was flown in the northern and southern areas of the property to cover known historic and regional airborne radiometric anomalies. Follow-up ground truthing of the results of this survey is expected to occur in 2019.

    Follow-up target drilling was carried out on prospective conductor sections in February 2019, consisting of eight drill holes totaling 1,300 metres in the north half of the Property. Drilling intercepted multiple anomalous and narrow radiometric anomalies and strong alteration, such as hole KL19-005 that intersected over 100 metres of strong clay alteration and faulted rock, which is interpreted to represent a major structural dilation zone.

Qualified Person: The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Raymond Ashley, P.Geo., for F3 Uranium Corp., a Qualified Person.

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