Uranium City Area Projects
Hearty Bay
key highlights
JOINT VENTURE
In December 2021 F3 Uranium and Traction Uranium announced an option agreement to continue exploration on the Hearty Bay Project. Traction’s exploration expenditures on the property have reached $3 million and thereby earning a 50% interest in the property. Traction has the option to acquire up to a 70% interest in the Hearty Bay Project by completing an additional $3 million in exploration work by the end of 2025.
LOCATION AND ACCESS
The Hearty Bay Property comprises 7 claims totaling 11,173 ha. The property is strategically located on the Athabasca Basin’s north edge, located between the Fond-du-Lac Uranium deposit 20 km to the east and the Beaver Lodge uranium district 60 km to the west.
HIGH GRADE BOULDER TRAINS
The Wolfe and Jackfish radioactive boulder trains are located in the center of the Hearty Bay property and contain mineralized boulders up to 8.2% U3O8. Radioactive boulders with U3O8 values up to 1.4% have been found approximately 900m in the up-ice direction from the Jackfish Boulder train. The source of the boulders within these trains has not been located. Prospecting and till sampling to re-evaluate ice flow direction was conducted in the fall of 2022 and winter of 2023 with the goal of narrowing down targets for the source of the radioactive boulder trains followed by a drill supported till sampling drill program in 2024. 84 samples of subglacial till were sampled due to less disturbance of till at depth and analyzed for uranium and other pathfinder elements. Based on the results a distribution fan of uranium enrichment in the subglacial till was observed, resulting in an updated interpretation of ice direction for the source of the boulders which is presumed to be somewhere along the margin of the Athabasca Basin, considering the boulders are both uraniferous sandstone and basement material.
DRILLING
In partnership with Traction, a 14-drill hole program was completed in the winter of 2022 looking for uranium mineralization up-ice of the Jackfish Boulder train targeting sandstone outliers and seismic targets. The program expanded on Eldorado Nuclear’s 71 drill holes on Lake Athabasca up to 2.5km from the Jackfish boulder train in the assumed up ice direction and additionally target. No significant radioactivity was intersected but HB22-008 intersected strong hydrothermal clay alteration. An additional drill program was planned for the winter of 2024 to further expand drilling and follow up on new gravity geophysics and the results of the till sampling programs, but due to warm weather and bad ice conditions the program was terminated after a single drill hole.
Uranium Exploration Potential
F3 Uranium Corp. has been very active in recent years to advance the Property and determine the source of the uraniferous boulders with marine acoustic and spectrometer surveys, extensive prospecting of Isle Brochet and the adjacent mainland, ground geophysical programs, and airborne surveys supporting quaternary studies. Targets interpreted from these exploration programs were followed up in a 14-drill hole program with JV partner Traction Uranium in the winter of 2022 targeting sandstone outliers based on seismics, which failed to intersect any radioactivity. As a result, a drill supported till sampling program was conducted in the fall of 2022 and winter of 2023 in order to sample subglacial tills and reevaluate ice flow direction to help refine drill targets up ice of the radioactive boulder trains. Geochemistry results of the till samples resulted in the interpretation of a distribution fan of uranium enrichment in the till indicating a updated interpretation of up ice direction for future targeting. In addition, a gravity survey was completed on Lake Athabasca in order to provide further targets for future drill testing. Most of these new targets from gravity and till sampling results in the area remain untested due to the 2024 drill program being abandoned prematurely due to bad ice conditions on the lake.
Maps
