Drilling at JR Zone Continues Focusing on Up Dip and Down Dip
Drilling at JR Zone Continues Focusing on Up Dip and Down Dip
This news release is not for distribution to U.S. newswire services for dissemination in the United States.
Kelowna, BC – October 25, 2023 – Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to clarify that ongoing drilling with one diamond drill at the JR Zone which has been defined over a strike length of 156m is filling in up and down dip on section lines where the mineralization remains open. A second diamond drill that is focused on exploration drilling to the south of the JR Zone along the A1B conductor continues to intersect encouraging signs for potential proximal mineralization. The current extended fall drill program is anticipated to continue until December when there is anticipated to be a break over the Christmas season before drilling is set to resume in the new year.
Raymond Ashley, President commented:
” The JR Zone, which is the most exciting recent discovery in the Athabasca Basin, is located at the north end of the conductive corridor which contains the A1 and parallel and offset A1B conductors. Many of the uranium deposits in the Athabasca Basin occur as individual and separate mineralized zones along a linear conductive geological fault structure, so called pearls on a string. The MobileMT electromagnetic survey has expanded the strike length of this prospective corridor by one third, to a total of 4.9km, and has thereby substantially increased the strike length for potential additional mineralized zones. Continuing to intersect many of the hallmarks that identify the A1 main shear zone with drilling at A1B, and knowing that the funds are in place for continued aggressive exploration, has the team excited about the potential for the discovery of a second mineralized zone at PLN.”
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 advancing the newly discovered high-grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become a major uranium producing region and is home to large deposits including Triple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.
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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