F3 Hits Strongest Hole to Date 3.82m of Off-scale (>65,535 cps)

Extends JR Zone to 105m in Length

March 27, 2023 3:01 AM EDT | Source: F3 Uranium Corp.

Kelowna, British Columbia--(Newsfile Corp. - March 27, 2023) - F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce scintillometer results from the final nine holes of the winter drill program at the JR Zone on the Patterson Lake North ("PLN") Property, including five high grade intercepts. Drill hole PLN23-060 collared on line 060S has intersected the strongest radioactivity to date at the JR Zone. It was collared up dip of hole PLN23-052 (see news release February 21, 2023) and intersected radioactivity over 17.5m, including 3.82m of continuous off-scale radioactivity >65,535 cps between 244.0m and 247.82m. PLN23-061 stepped out further to line 075S and resulted in 14.0m of mineralization, including 2.81m of composite off-scale (>65,535 cps) radioactivity within 5.08m of composite radioactivity >10,000 cps. An additional drill hole was added to the program stepping out further along strike on line 090S, where PLN23-062 intersected 6.0 m of composite radioactivity including 1.0m of continuous off-scale (>65,535 cps) radioactivity. These holes expanded the strike length of the JR Zone by another 30m, to a current length of 105m.

Raymond Ashley, Vice President Exploration, commented:

"With the final nine holes of the winter 2023 drill program the technical team is delighted to announce the strongest off-scale radioactivity drilled so far at the JR Zone with infill hole PLN23-060 on line 060S, making it the best hole to date. Moreover, the two holes which have expanded the JR Zone to a current length of 105m both intersected off-scale radioactivity >65,535 cps, hole PLN23-061 which stepped out to line 075S and hole PLN23-62 which stepped out further to line 090S. Additional holes will be planned for the summer program on section 30N as the single hole drilled on that section, PLN23-055, did not intersect mineralization. This is a fantastic ending to a very successful winter program of growing the JR Zone along strike towards the south within the A1 main shear zone, following the direction in which strong continuity of high grade mineralization had been established earlier in the drill program."

Drilling Highlight:

PLN23-060

  • 17.5m composite mineralization from 231.5m - 253.5m, including
    • 4.98m composite mineralization of >10,000 cps between 243.17m - 252.83m, further including 3.82m of continuous off-scale (>65,535 cps) radioactivity from 244.00m - 247.82m (see Photo 1.)

Main Intercepts:

PLN23-054 (line 075S):

  • 14.5m composite mineralization from 244.0m - 269.0m with a peak radioactivity of 6,600 cps from 248.5m - 249.0m

PLN23-056 (line 030S):

  • 11.5m composite mineralization from 237.5m - 249.0m, including
    • 1.34m continuous mineralization of >10,000 cps radioactivity between 247.16m - 248.50m with a peak of 32,300 cps

PLN23-057 (line 045S):

  • 7.0m composite mineralization from 246.0m - 268.5m with a peak radioactivity of 1,400 cps from 252.0m - 252.5m

PLN23-058 (line 060S):

  • 1.0 m continuous mineralization from 253.0m - 254.0m with a peak radioactivity of 360 cps

PLN23-059 (line 045S):

  • 17.0m composite mineralization from 238.5m - 255.5m, including
    • 1.32m composite mineralization of >10,000 cps radioactivity between 243.18m - 254.00m with a peak radioactivity of 31,100 cps

PLN23-061 (line 075S):

  • 14.0m composite mineralization from 246.0m - 260.0m, including
    • 5.08m composite mineralization of >10,000 cps radioactivity between 246.71m - 254.93m, further including 2.81m of composite off-scale (>65,535 cps) radioactivity

PLN23-062 (line 090S):

  • 6.0m composite mineralization from 240.5m - 256.5m, including
    • 1.0m continuous off-scale (>65,535 cps) radioactivity between 246.5m - 247.5m

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their "Uranium Package".

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

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Photo 1: PLN23-060 Drill Core Photo
 
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Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information * Hand-held Spectrometer
Results On Mineralized Drillcore
(>300 cps / >0.5m minimum)
Athabasca
Unconformity
Depth (m)
Total
Drillhole
Depth
(m)
Hole ID Section
Line
Easting Northing Elevation Az Dip From
(m)
To
(m)
Interval (m) Max CPS
PLN23-054 075S 587713.9 6410660.4 545.7 53.9 -58.2 244.00 244.50 0.50 820 209.0 371
              244.50 245.00 0.50 810    
              245.00 247.00 2.00 <300    
              247.00 247.50 0.50 350    
              247.50 248.00 0.50 580    
              248.00 248.50 0.50 630    
              248.50 249.00 0.50 6600    
              249.00 250.00 1.00 <300    
              250.00 250.50 0.50 310    
              250.50 251.00 0.50 430    
              251.00 251.50 0.50 470    
              251.50 252.00 0.50 580    
              252.00 252.50 0.50 880    
              252.50 253.00 0.50 650    
              253.00 253.50 0.50 910    
              253.50 254.00 0.50 610    
              254.00 254.50 0.50 350    
              254.50 255.00 0.50 440    
              255.00 255.50 0.50 620    
              255.50 256.00 0.50 680    
              266.50 267.00 0.50 2100    
              267.00 268.50 1.50 <300    
              268.50 269.00 0.50 330    
PLN23-055 030N 587668.4 6410756.9 545.4 54.0 -55.5 no radioactivity >300 cps 209.0 344
PLN23-056 030S 587705.0 6410718.0 545.2 54.2 -59.5 237.50 238.00 0.50 340 211.0 356
              238.00 239.00 1.00 <300    
              239.00 239.50 0.50 300    
              239.50 240.00 0.50 <300    
              240.00 240.50 0.50 300    
              240.50 241.00 0.50 370    
              241.00 241.50 0.50 4400    
              241.50 242.00 0.50 7500    
              242.00 242.50 0.50 3900    
              242.50 243.00 0.50 610    
              243.00 243.50 0.50 <300    
              243.50 244.00 0.50 1100    
              244.00 244.50 0.50 350    
              244.50 245.50 1.00 <300    
              245.50 246.00 0.50 320    
              246.00 246.50 0.50 <300    
              246.50 247.00 0.50 1400    
              247.00 247.16 0.16 2300    
              247.16 247.50 0.34 17300    
              247.50 248.00 0.50 32300    
              248.00 248.50 0.50 28800    
              248.50 249.00 0.50 2700    
PLN23-057 045S 587704.3 6410689.5 544.9 54.3 -62.3 246.00 246.50 0.50 380 199.9 362
              249.00 249.50 0.50 840    
              249.50 250.50 1.00 <300    
              250.50 251.00 0.50 350    
              251.00 251.50 0.50 <300    
              251.50 252.00 0.50 720    
              252.00 252.50 0.50 1400    
              252.50 253.50 1.00 <300    
              253.50 254.00 0.50 610    
              254.00 254.50 0.50 930    
              257.00 257.50 0.50 1100    
              268.00 268.50 0.50 440    
PLN23-058 060S 587715.6 6410678.4 544.5 54.6 -64.9 253.00 253.50 0.50 340 188.3 356
              253.50 254.00 0.50 360    
PLN23-059 045S 587717.0 6410702.1 545.1 55.4 -61.1 238.50 239.00 0.50 420 208.5 362
              239.00 239.50 0.50 460    
              239.50 240.00 0.50 4900    
              240.00 240.50 0.50 890    
              240.50 241.00 0.50 440    
              241.00 241.50 0.50 3800    
              241.50 242.00 0.50 770    
              242.00 242.50 0.50 910    
              242.50 243.00 0.50 4700    
              243.00 243.18 0.18 8900    
              243.18 243.50 0.32 19100    
              243.50 244.00 0.50 22200    
              244.00 244.50 0.50 2200    
              244.50 245.00 0.50 480    
              245.00 245.50 0.50 <300    
              245.50 246.00 0.50 340    
              246.00 246.50 0.50 300    
              246.50 248.00 1.50 <300    
              248.00 248.50 0.50 430    
              248.50 249.00 0.50 2200    
              249.00 250.50 1.50 <300    
              250.50 251.00 0.50 300    
              251.00 251.50 0.50 370    
              251.50 252.00 0.50 1100    
              252.00 252.50 0.50 2300    
              252.50 253.00 0.50 310    
              253.00 253.50 0.50 <300    
              253.50 254.00 0.50 31100    
              254.00 254.50 0.50 2800    
              254.50 255.00 0.50 1500    
              255.00 255.50 0.50 1300    
PLN23-060 060S 587728.7 6410689.6 545.0 54.8 -62.2 231.50 232.00 0.50 690 203.0 356
              232.00 232.50 0.50 710    
              232.50 233.00 0.50 1600    
              233.00 233.50 0.50 480    
              238.00 238.50 0.50 320    
              238.50 239.00 0.50 880    
              239.00 239.50 0.50 9100    
              239.50 240.00 0.50 6300    
              240.00 240.50 0.50 9500    
              240.50 241.00 0.50 840    
              241.00 241.50 0.50 880    
              241.50 242.00 0.50 420    
              242.00 242.50 0.50 2700    
              242.50 243.00 0.50 7100    
              243.00 243.17 0.17 7000    
              243.17 243.50 0.33 28800    
              243.50 244.00 0.50 30600    
              244.00 244.50 0.50 >65535    
              244.50 245.00 0.50 >65535    
              245.00 245.50 0.50 >65535    
              245.50 246.00 0.50 >65535    
              246.00 246.50 0.50 >65535    
              246.50 247.00 0.50 >65535    
              247.00 247.50 0.50 >65535    
              247.50 247.82 0.32 >65535    
              247.82 248.00 0.18 5200    
              248.00 248.50 0.50 840    
              248.50 249.00 0.50 640    
              249.00 249.50 0.50 710    
              249.50 250.00 0.50 1100    
              250.00 250.50 0.50 1000    
              250.50 251.00 0.50 370    
              251.00 251.50 0.50 850    
              251.50 252.00 0.50 470    
              252.00 252.50 0.50 910    
              252.50 252.83 0.33 24200    
              252.83 253.00 0.17 1900    
              253.00 253.50 0.50 470    
PLN23-061 075S 587720.0 6410666.7 545.5 54.6 -56.6 246.00 246.50 0.50 360 212.7 368
              246.50 246.71 0.21 2500    
              246.71 247.00 0.29 12600    
              247.00 247.50 0.50 5200    
              247.50 248.00 0.50 5100    
              248.00 248.12 0.12 6100    
              248.12 248.28 0.16 14100    
              248.28 248.50 0.22 6400    
              248.50 248.67 0.17 7900    
              248.67 248.81 0.14 10000    
              248.81 249.00 0.19 2200    
              249.00 249.50 0.50 2900    
              249.50 250.00 0.50 6300    
              250.00 250.50 0.50 54800    
              250.50 250.69 0.19 7400    
              250.69 251.00 0.31 >65535    
              251.00 251.50 0.50 >65535    
              251.50 252.00 0.50 >65535    
              252.00 252.50 0.50 >65535    
              252.50 253.00 0.50 24500    
              253.00 253.50 0.50 >65535    
              253.50 254.00 0.50 >65535    
              254.00 254.32 0.32 23400    
              254.32 254.50 0.18 3200    
              254.50 254.57 0.07 2700    
              254.57 254.93 0.36 34200    
              254.93 255.00 0.07 2400    
              255.00 255.50 0.50 1000    
              255.50 256.00 0.50 570    
              256.00 256.50 0.50 2600    
              256.50 257.00 0.50 <300    
              257.00 257.50 0.50 790    
              257.50 258.50 1.00 <300    
              258.50 259.00 0.50 810    
              259.00 259.50 0.50 430    
              259.50 260.00 0.50 500    
PLN23-062 090S 587732.4 6410655.3 544.7 54.7 -57.7 240.50 241.00 0.50 730 204.5 359
              241.00 241.50 0.50 1100    
              241.50 242.00 0.50 880    
              242.00 242.50 0.50 440    
              245.50 246.00 0.50 1300    
              246.00 246.50 0.50 350    
              246.50 247.00 0.50 >65535    
              247.00 247.50 0.50 >65535    
              247.50 248.00 0.50 1200    
              248.00 248.50 0.50 650    
              255.50 256.00 0.50 370    
              256.00 256.50 0.50 7300    

 

About Patterson Lake North:

The Company's large 39,946-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow high-grade uranium deposits, an area which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium's Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., Vice President of Exploration of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world's largest high grade uranium discovery. F3 Uranium currently has 16 projects in the Athabasca Basin. Several of F3's projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

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(See cross sections bellow)

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