The property is strategically located on the Athabasca Basin’s north edge, nestled between the Fond-du-Lac Uranium deposit 20 km to the east and the Beaver Lodge uranium district 60 km to the west, indicating a prime location for uranium exploration.
It features historic Isle Brochet radioactive boulder trains with up to 3% uranium content and additional radioactive boulders nearby. Despite historic drilling efforts, the source of these high-uranium boulders remains unidentified, as exploration was limited to surface and near-surface areas without comprehensive subsurface analysis.
Airborne electromagnetic (EM) surveys have identified strong conductors up-ice from the boulder trains, suggesting the potential for underlying mineralization that could explain the origin of the surface radioactivity, underscoring the property’s untapped exploration potential.
The Hearty Bay Property comprises 7 claims totaling 11,173 ha. F3 Uranium Corp. holds 100% ownership of the property. Three of the claims were acquired by staking in October 2017, and two in April 2019.
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Dev Randhawa is a seasoned CEO with extensive experience in resources, mining exploration, and energy companies. As the former CEO of Fission Uranium Corp., Mr. Randhawa, along with his technical team, led the high-grade uranium discovery at PLS in 2012. Recently, Paladin Energy made an offer of $1.1 billion to buy Fission Uranium.
In 1996, Dev founded Strathmore Minerals Corp., leading it until 2008. Mr. Randhawa spun off Fission Energy Corp. in 2007, focusing on uranium exploration in Saskatchewan. He sold major assets to Denison Mines in 2013 for $85 million, creating Fission Uranium Corp.
Dev has executed significant joint ventures, including a $50 million partnership with Sumitomo (Japan) and $44mil with KEPCO (Korea). In 2016, Dev negotiated an $82 million investment in Fission from CGN Mining. He holds a BBA from Trinity Western College and an MBA from the University of British Columbia.