F3 Uranium drills 66.8% U3O8 overt 0.5 metres at Patterson Lake North, Saskatchewan

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F3 Uranium Corp. [TSXV-FUU; OTCQB-FUUFF; FSE-X42] reported final assay results from the fall 2023 drill program at its Patterson Lake North uranium project, northern Saskatchewan, including PLN23-110, which returned 2.0 metres of 42.4% U3O8 (triuranium octoxide) from 226.0 metres to 228.0 metres, including 1.5 metres averaging 55.4% U3O8 with a highest grade of 66.8% U3O8 in a single 0.5-metre sample. PLN23-112, drilled from line 060S returned 11.5 metres averaging 2.00% U3O8 from 229.0 to 240.5 metres, including 3.5 metres averaging 4.24% U3O8.

Sam Hartmann, VP Exploration, commented: “PLN23-110 returned ultra-high-grade assays, including the highest assay to date – 66.8% U3O8 on section 015S, which remains open in the up-dip direction. At the B1 area, where we initially targeted the B1 EM conductor, significant alteration in sandstone and basement rocks was encountered and we are pleased to receive final geochemistry supporting our decision to drill a wide fence with 4 drill holes across approximately 250 metres of geology. Anomalous basement uranium values were intersected, notably in PLN23-105 with up to 137 ppm uranium; values of greater than 100 ppm uranium have previously only been encountered in PLN14-019 and immediately surrounding holes, as well as within the JR Zone itself.”

The company also announced that it has completed a technical report for its Patterson Lake North (PLN) Project, including the PLN, Broach and Minto properties, pursuant to NI 43-101 standards. The report was completed by lead consultant SLR International Corporation with an effective date of November 20, 2023, prepared for F3 Uranium and dated January 25, 2024.

Assay Highlight: PLN23-110 (line 015S): mineralized intervals – 2.5m at 0.23% U3O8 (217.0m to 219.5m), and 2.0m at 42.4% U3O8 (226.0m to 228.0m), including1.5m at 55.4 per cent U3O8 (226.0m to 227.5m), further including 0.5m at 66.8% U3O8 (227.0m to 227.5m).

Main JR Zone Intercepts: PLN23-101 (line 015S): mineralized intervals – 11.5m at 0.39% U3O8 (218.5m to 230.5m), including 1.5m at 1.77% U3O8 (222.5m to 224.0m), and 1.5m at 2.64% U3O8 (227.5m to 229.0m).

PLN23-106 (line 120S): mineralized interval – 0.5m at 0.07% U3O8 (240.5m to 241.0m). PLN23-108 (line 030S): mineralized intervals – 0.5m at 0.24% U3O8 (256.5m to 257.0m), and 0.5m at 0.67% U3O8 (260.5m to 261.0m). PLN23-109 (line 015S): mineralized interval – 2.5m at 0.33% U3O8 (221.0m to 223.5m).

PLN23-112 (line 060S): mineralized intervals – 8.0m at 1.03% U3O8 (229.0m to 237.0m), including 0.5m at 13.2% U3O8 (232.0m to 232.5m), and 3.5m at 4.24% U3O8 (237.0m to 240.5m), including 0.5m at 20.0% U3O8 (238.0m to 238.5m).

PLN23-114 (line 030S): mineralized intervals – 3.0m at 0.05% U3O8 (219.5m to 222.5m), and 1.5m at 0.64% U3O8 (230.5m to 232.0m), and 0.5m at 0.11% U3O8 (235.5m to 236.0m).

Exploration Drilling Highlights: PLN23-102 (line 3450S), B1 Area: 0.5m at 79 ppm uranium (411.5m to 412.0m) in basement.

PLN23-105 (line 3450S), B1 Area: 7.5m at 48 ppm uranium (528.5m to 535.0m) in basement,  including 0.5m at 137 ppm uranium (531.5m to 532.0m).

PLN23-111 (line 3450S), B1 Area: 3.5m at 1,198 ppm boron (357.5m to 361.0m) in sandstone, including 0.5m at 2,770 ppm boron (357.5m to 358.0m).

The company considers uranium mineralization with assay results of greater than 1.0 weight per cent U3O8 as “high grade” and results greater than 20.0 weight per cent U3O8 as “ultra-high grade”. All depth measurements reported are down-hole and true thickness are yet to be determined.

The company’s 4,078-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 world class uranium deposits 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. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

F3 Uranium currently has 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

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