Impact: Very Positive
Scintillometer results were reported from the initial eight holes of F3 Uranium’s 30-hole summer drill program at the JR zone on its 100%-owned PLN project in the SW Athabasca Basin. Step out drilling on lines 105S and 135S extended the mineralized strike by ~50% to 156m. Drilling at line 60S encountered sections of strong radioactivity up-dip, suggesting the presence of high-grade mineralization as drilling moves towards unconformity. Assays from all holes remain pending. While extension of JR zone is a positive, results along the southern extension are not as strong as previous results. That said, the thickness of the zone core remains robust. This still would have acted as a major fluid flow conduit and allowed considerable hydrothermal mineralizing fluids to pass through the structure. Athabasca Basin deposits, whether basement hosted or unconformity, often occurs as discontinuous zones or “pearls on a necklace”. We believe mineralization could pick up to the south or peter out altogether followed by a new zone emerging further to the south. This style of mineralization creating separate zones is evident at other nearby deposits including Shea Creek, Triple R, and the Arrow-Bow-Harpoon-Spitfire deposit. We still see potential along trend to the south and believe that further drilling along trend, and up-dip, is warranted to keep extending the zone.