F3 Uranium intersects 18.6% U3O8 over 2.5 metres at Patterson Lake North, Saskatchewan
F3 Uranium Corp. [TSXV-FUU; OTCQB-FUUFF; FSE-X42] released final assay results from the winter 2024 drill program at Patterson Lake North, Saskatchewan, including PLN24-137, which was cored in the JR zone and which returned 15.0 metres of 3.2% U3O8 (triuranium octoxide), including a high-grade 2.5-metre interval averaging 18.6% U3O8, further including the ultrahigh-grade core with 1.5 metres of 30.3% U3O8.
Exploration geochemistry for the continuing summer drill program has also been received up to hole PLN24-152, which focused on drill testing both the A1 main shear as well as a related fault splay termed the North Horse grid south of the crosscutting Harrison fault, a significant structure corresponding to a vertical offset of approximately 130 metres. Two radioactive intervals corresponding to the main A1 and North Horse structures, respectively, yielded the strongest exploration geochemistry results outside of JR zone to date, with the main A1 intersect assaying 0.045% U3O8 and the North Horse intersect assaying 0.014% U3O8 over seven metres, including 0.051% U3O8 over 0.5 metre.
A series of shorter exploration drill holes have been completed on the main A1 shear infilling gaps, and, although there are multiple areas warranting follow-up, exploration drilling in the near term will focus on the areas near the Harrison fault and to the southeast.
Sam Hartmann, vice-president, exploration, commented: “We are very pleased with these ongoing results. Drill hole PLN24-152 stands out with the strongest geochemistry signatures to date outside of the JR zone and represents one of the highest-priority exploration targets for follow-up. This hole targeted the intersect of the Harrison fault and the A1 Main shear zone just south of the Harrison fault. Targeting in this area now includes the Harrison fault itself and the areas of shear intersections with it. We are persistent in our efforts to hone in on potential high-grade mineralization indicated by encouraging results from our systematic drilling in this area.”
Winter 2024 JR zone assay highlights – PLN24-137 (line 040S): 5.0 metres of 3.2% U3O8 (202.5 metres to 217.5 metres), including 2.5 metres of 18.6% U3O8 (214.0 metres to 216.5 metres); further including 1.5 metres of 30.3% U3O8 (214.5 metres to 216.0 metres).
Summer 2024 exploration geochemistry highlights – PLN24-152 (Line 2850S) A1 exploration, south of Harrison fault: 2.0 metres of 216 parts per million uranium; 0.024% U3O8 (351.0 metres to 353.0 metres, including 0.5 metre of 409 parts per million uranium; 0.045% U3O8 (352.0 metres to 352.5 metres); 7.0 metres of 107 parts per million uranium; 0.014% U3O8 (434.5 metres to 441.5 metres), including 0.5 metre of 412 parts per million uranium; 0.051% U3O8 (440.5 metres to 441.0 metres).
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 ultrahigh grade. All depth measurements reported are downhole 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 southwestern 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.
F3 Uranium currently has 20 projects in the Athabasca basin. Several of F3’s projects are near large uranium discoveries, including Triple R, Arrow and Hurricane. F3 has announced a transaction pursuant to which it will transfer 17 of its prospective uranium exploration properties to F4 in exchange for common shares of F4, which will be distributed to F3 shareholders on the basis of one F4 share for every common share of F3 held; the F4 shares will then be rolled back at a ratio of 1:10. F3 will retain the PLN project consisting of the PLN, Misto and Broach properties. The Broach property incorporates the PW property, which it obtained from Canalaska Uranium as the result of a property swap.