F3 Uranium drilling raises profile of Broach target

Drilling at F3 Uranium’s (TSV: FUU; US-OTC: FUUFF) Tetra zone inside its Broach target in Saskatchewan has more than doubled the mineralized strike length, with initial radiation readings – as high as 4,500 counts per second (cps) – pegged as noteworthy.

The drill program from last fall comprised 2,638 metres across five holes at F3’s Broach target while extending the mineralized plunge length to 135 metres from 60 metres, F3 reported Tuesday. Broach is located in the western Athabasca basin, about 12 km south of F3’s high-grade JR zone and about 700 km north of Saskatoon.

“We view these as modest radioactive results that show continuity of mineralization, while considerably extending the strike length,” Red Cloud Securities analyst David Talbot said in a note on Wednesday. “Drilling is expected to continue to test this system up and down plunge, including about 300 metres of untested shear zone in the up-plunge direction to the east, towards the unconformity.”

Burgeoning target

The drill results follow the first set of strong intersections at Broach last spring, which suggested it might become one of F3’s leading targets. Meanwhile, rising demand for electricity from artificial intelligence servers continues to incent nuclear power and uranium production. The spot uranium price sat at $83.10 per lb. on Wednesday, up 12% from one year ago.

F3 shares gained about 3% to 18¢ apiece at mid-day Wednesday, valuing the company at $109.5 million. The stock has traded in a 12-month range of 12¢ to 28¢.

Significant radiation readings

Hole PLN25-221 intersected 8.5 metres of radioactivity from 338 metres depth, peaking at 4,500 cps on the scintillometer. Results exceeding 300 cps are counted as “anomalous”, F3 says, with readings above 10,000 cps considered “highly radioactive” and higher than 65,535 as “off-scale.”

That hole also confirmed continuity on the up-plunge, or eastern side, and stepped out about 28 metres from PLN25-205 drilled last July, Sam Hartmann, F3’s vice-president exploration said in the release.

There are about 300 metres of shear zone remaining in the up-plunge direction toward the Athabasca Unconformity, the contact area between the sandstone basin fill and the older basement rocks where most of the basin’s uranium is located.

“[That] represents first order priority areas for follow-up drilling, which we are planning to start later this month,” Hartmann said.

Complete assays from the fall program are pending.

Talbot noted he’s awaiting results from hole PLN25-219A, the strongest mineralized interval yet at Tetra. That hole intersected mineralization over 27.5 metres from 284 metres depth, including 2.3 metres clocking more than 10,000 cps.