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Kelowna, British Columbia–(Newsfile Corp. – January 30, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company”) is pleased to announce top-line centellometer effects of the first completed drill hole of the ongoing winter drilling program at the Patterson Lake North (“PLN”) property, which includes two high-grade intersections. Hole PLN24-116 tested mineralization between PLN23-061 (see NR of May 15, 2023). ) and PLN23-074 (see NR 13 November 2023) at shear line 075S and intersected mineralization over a period of 16. 5 m adding 2. 05 m of off-scale radioactivity (>65. 535 cps), adding 1. 80 m continuously. A The mineralized zone of thin decline to 23,600 cps from 272. 00 m also intersects and marks the first intersection of maximum radioactivity under the JR Zone.
A second diamond drill rig also began sampling the JR Zone before moving approximately 3 km south to begin exploration in Zone B1, where last year’s drilling yielded very encouraging results, highly anomalous alterations, structures and geochemistry.
As Dias’ 3-D resistivity survey nears completion, on-site preparations are underway for the next phase of terrestrial geophysics. A step-by-step time-domain electromagnetic examination (SWML) will be carried out over a total of approximately 60 km of lines in the B1 area, with loop length parameters ideal for properly housing the B1 conductor underground. This new study will update and refine the Company’s electromagnetic plate model, which will then be incorporated with resistivity insights to provide additional drill targets.
Drilling Highlight:
PLN24-116 (line 075S):
16. 5 m mineralization from 224. 0 m to 240. 5 m, including
6. 05 m of compound radioactivity (> 10,000 cps) between 224. 85 and 232. 40 m, of which
2.05 composite off-scale radioactivity (> 65,535 cps) between 227.00 and 231.25m, and
0. 5 m mineralization from 272. 00 m to 272. 5 m with up to 23,600 cps
The natural gamma radiation in the drill core reported in this press release was measured in strokes consistent with the moment (cps) of a Radiation Solutions RS-125 handheld scintillometer. The company considers more than three hundred cps in the handheld spectrometer to be abnormal. > 10,000 fps to be top quality and more than 65,535 fps to be out of scale. The reader is cautioned that the scintillometer readings are not directly or uniformly similar to the uranium grades of the rock pattern being measured and deserve to be used only as an initial indication of the presence of radioactive material. Drill core samples are partly divided in situ and standardized to lengths of 0. 5 m. Half of the fractional standard will be sent to SRC’s geoanalytical laboratories (an ISO/IEC 17025:2005 accredited facility) in Saskatoon, Saskatchewan.
All reported intensity measurements are downhole and actual thickness has yet to be determined; however, the Company believes that the actual thickness of the periods reported in this press release is close to the reported well widths.
Table 1. Summary of Drilling and Portable Spectrometer Results
Neck Information
* Portable spectrometer results on mineralized cores (> three hundred cps / > 0. 5 m minimum)
Depth of Athabasca Mismatch (m)
Total depth of drilling hole (m)
Hole ID
Cutting line
Easting
North
Elevation
Arizona
Dressing
From(m)
Thomas)
Interval (m)
Maximum CPS
24-116 PLN
075S
587757. 9
6410697. 1
546. 0
54,6
-64,9
224. 00
224.50
0,50
3100
196,0
311
224,50
224,85
0,35
4200
224,85
225.00
0,15
14600
225. 00
225,50
0,50
4600
225. 50
226.00
0. 50
24100
226.00
226,50
0,50
20200
226.50
227,00
0,50
22200
227.00
227.50
0,50
>65535
227,50
228,00
0.50
>65535
228,00
228. 50
0.50
>65535
228. 50
228,80
0.30
>65535
228,80
229. 00
0. 20
63500
229. 00
229,50
0,50
37800
229,50
230,00
0,50
3000
230.00
230,50
0,50
8600
230,50
231,00
0,50
51800
231,00
231.25
0,25
>65535
231,25
231,50
0.25
61000
231. 50
232,00
0. 50
58700
232,00
232.40
0. 40
31200
232. 40
232,50
0,10
4100
232,50
233. 00
0,50
2500
233. 00
233,50
0,50
5800
233,50
234.00
0,50
1800
234. 00
234,50
0,50
530
234,50
235. 00
0.50
450
235,00
235. 50
0,50
310
235.50
236,00
0. 50
1100
236. 00
236,50
0,5
690
236,50
237,00
0,5
500
237. 00
238,50
1. 5
<300
238,50
239,00
0.5
670
239.00
239,50
0. 5
<300
239.50
240,00
0.5
300
240,00
240.50
0,5
350
272.00
272,25
0,25
23600
272,25
272,50
0,25
2900
Composite parameters of handheld spectrometer:
1: Minimum thickness of 0. 5 m2: CPS threshold of 300 beads consistent with second 3: Maximum internal dilution of 2. 0 m
About Patterson Lake North:
The 4,078-hectare, 100%-owned Patterson Lake North (PLN) assets are located right at the southwestern end of the Athabasca Basin, in close proximity to NexGen Energy’s global high-grade Triple R Triple R uranium deposits and NexGen Energy’s Arrow deposits, which are poised for the next major progression domain for new uranium operations in northern Saskatchewan. The PLN is available via Provincial Road 955, which crosses the assets, and the new uranium discovery from the JR Zone is located 23 km northwest of the Triple R deposit of Fission Uranium.
Qualified Person:
The technical data contained in this press has been prepared in accordance with the Canadian regulatory needs set forth in National Instrument 43-101 and approved on behalf of the Company through Raymond Ashley, P. Geo. , President and Chief Operating Officer of F3 Uranium Corp. . , a person calificada. Sr. Ashley checked the leaked data.
About F3 Uranium Corp. :
F3 Uranium advances in the recently discovered high-quality JR zone at PLN’s assets in the western Athabasca Basin. This region of Saskatchewan is poised to be the next uranium manufacturer and is home to significant uranium deposits, in addition to Tiple R, Arrow and Shea Creek. F3 Uranium currently owns 18 projects in the Athabasca Basin.
Contact Details
F3 Uranium Corp. 750-1620 Dickson AvenueKelowna, BC V1Y9Y2
Investor RelationsTelephone: 778 484 8030Email: [email protected]
ON BEHALF OF THE COUNCIL
“Dev Randhawa”Dev Randhawa, Executive Director
View the cross-section of the JR NLP | F3 Uranium Corp. under “Sections”
TSX Venture Exchange has reviewed, approved or disapproved the contents of this press release and accepts no responsibility for the appropriateness or accuracy of this release.
Forward-Looking Statements
This press release comprises “forward-looking data” within the meaning of applicable securities legislation in Canada and the United States, which is based on the Company’s existing expectations, estimates, projections, assumptions and internal ideals. The forward-looking data contained in this press release is made only as of the date of this press release. These forward-looking statements and forward-looking data are, among other things, intended to divide households; the creation of F4; the arrangement, adding the schedule for its final touch; the transfer of homes and the distribution of stock according to the terms of the agreement; the objective of listing F4 shares on the TSXV; the strategic investment proposed by F3 in F4; the Arrangement is subject to court, TSXV and shareholder approval; the preparation and delivery of a control data circular that establishes the main points of the agreement; the finishing touch of the Spin-Out and the Quote; potential benefits for shareholders and other issues related to the deal. Forward-looking statements or forward-looking data relate to long-term events and long-term functionality and include statements regarding expectations and control ideals based on data currently available to the Company. These forward-looking statements and forward-looking data can often, but not always, be understood by the use of words such as “plans”, “expects”, “prospective”, “is expected”, “plans”, “is targeted”. “. “. “, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “believes” or the negative facets thereof or diversifications of those words and expressions or statements that certain movements cause or The effects “may”, “could”, “could”, “could” or “will be carried out”, happen or be achieved.
Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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