F3 Mobilizes to Drill A1 and B1 at PLN
F3 Mobilizes to Drill A1 and B1 at PLN
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Kelowna, BC – January 8, 2024 – Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to announce that drill mobilization for the winter drilling program is underway, and ground geophysics has already resumed at its 100%-owned Patterson Lake North (“PLN”) Project. The 2024 work is fully funded and budgeted at $16M and consists of ground geophysics and drilling of approximately 55 drill holes totaling 24,000m. Exploration efforts will initially focus on the A1 shear hosting the JR Zone and the B1 area 3km south of the JR Zone.
Sam Hartmann, VP of Exploration commented:
“We are excited to set out on this aggressive winter program aimed at JR Zone expansion and discovery of additional mineralized zones along the 5km long A1 and parallel B1 shear zones. Increasingly prospective geology with many of the signatures commonly associated with uranium mineralization was recognized in the fall drilling along the B1 area, 3km south of the JR Zone. This includes intensely brecciated, faulted and clay altered Athabasca Sandstone with evidence of a cross cutting structure with significant vertical displacement, highly anomalous boron up to 10,000 ppm in the lower sandstone as well as strongly graphitic, clay altered and structurally deformed basement rocks (see NR dated December 18, 2024.) The extensive structural complexity associated with large-scale hydrothermal alteration and accompanying anomalous pathfinder element geochemistry including uranium values are all features that highlight the strong potential the B1 Area.”
Phase 1 of the Dias Geophysics 3D-DCIP ground resistivity survey, which is nearing completion, was carried out in late fall over the JR Zone and A1 shear, as well as the parallel B1 shear zone; Dias is currently back on site and has resumed current injections. Drilling efforts at the B1 area will focus on targets developed through integration of 3D-DCIP ground resistivity and ground EM data, along with drill core geochemistry.
About Patterson Lake North:
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.
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., President COO 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 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.
On behalf of the Board
Dev Randhawa
Chief Executive Officer
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC, V1Y9Y2
Contact Information
www.f3uranium.com
+1 778 484-8030
www.twitter.com/F3Uranium
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Forward Looking Statements:
This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements with respect to the closing of the Debenture issuance and the ability to satisfy the conditions thereof, including receipt of all necessary regulatory approvals and/or the acceptance of the TSXV, the use of proceeds, the participation by others in a similar financing, and the potential for development of new uranium operations in northern Saskatchewan. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR+. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
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