F3 Commences 2025 Drill Program at PLN
Rhea-AI Summary
F3 Uranium Corp has initiated its $6 million 2025 winter exploration drilling program at the PLN Project. The program focuses on expanding the JR Zone, where previous drilling (PLN24-176) yielded impressive results of 7.5m of 30.9% U3O8, including 4.5m of 50.1% U3O8. Additionally, exploration drilling will target a potential new mineralization zone along the A1 structure near PLN24-152, located 2,800m south of the JR Zone, where previous drilling showed a 7m mineralized interval with up to 0.051% U3O8.
The company employs a unique drilling methodology using a sonic rig for pre-casing followed by diamond drilling. Currently awaiting assay results from 25 drill holes from the 2024 season, which will guide further exploration planning. Samples are standardized at 0.5m intervals and analyzed at SRC Geoanalytical Laboratories for a 63-element suite including uranium, boron, and gold.
Positive
- Significant high-grade uranium discovery with PLN24-176 showing 30.9% U3O8 over 7.5m
- $6 million winter exploration program launched
- Potential new mineralization zone identified 2,800m south of JR Zone
Negative
- True thickness of mineralization yet to be determined
- 25 drill holes from 2024 still pending assay results
News Market Reaction – FUUFF
On the day this news was published, FUUFF declined 5.56%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Kelowna, British Columbia--(Newsfile Corp. - February 3, 2025) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce that it has started drilling as part of the
Sam Hartmann, Vice President Exploration, commented:
"We are excited to get back to work and continue drill exploration at the PLN property; this will consist of JR Zone drilling in high reward areas where we stand to add value, starting with the exceptional high grade cored in PLN24-176. Exploration drilling will start by following up on high priority areas defined during the 2024 program based on radioactivity and geochemistry results. Due to our unique methodology of drilling by pre-casing drill holes with a sonic rig and the diamond drill following, the drilling sequence will be variable and go back-and forth between zone drilling and exploration. Meanwhile we are still waiting for assay results from 25 drill holes from the 2024 season including both JR Zone and exploration holes and will release those as they come available. These results will also be used for the planning of further exploration drilling."
Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.
The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as "high grade" and results greater than 20.0 weight % U3O8 as "ultra-high grade".
All depth measurements reported are down-hole and true thicknesses are yet to be determined.
About the Patterson Lake North Property:
The Company's 42,961-hectare
Qualified Person:
The technical information in this news release has been prepared 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 exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world's largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
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@f3uranium.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239290