What’s the best way to find a needle in a haystack? Bring a magnet. And in the case of F3 Uranium (TSXV:FUU), the exploration team is that magnet. In particular, Ray Ashley, who is VP of Exploration for F3 and has been quarterbacking the latest drill program. His brilliance makes it seem like high-grade uranium gravitates towards HIM. The world-class expertise of this team is shining bright once more as demonstrated by this morning’s news release…

F3 Uranium’s released more results from both infill and step-out drill holes this morning and one of them is the strongest hole to date, Drill hole PLN23-060 intersected 3.82m of off-scale (>65,535 cps) radioactivity.

View the full news release here: https://f3uranium.com/news/f3-hits-strongest-hole-to-date-3-82m-of-off-scale-5055/

Not only did this particular drill hole intersect more high-grade uranium, but F3 also released results from TWO additional step-out drill holes which also intersected off-scale radioactivity AND expanded the strike length of the JR Zone by another 30m, to a current length of 105m. This is HUGE news.

PLN23-061 in particular, was a 75m step-out to the south of the discovery hole and also hit 5.08m of >10,000 cps radioactivity, including 2.81m of composite off-scale (>65,535 cps) radioactivity. This was a huge step out hole and the fact that it also managed to intersect off-scale radioactivity is incredibly significant.

For an economic deposit, you need to have both size and grade — and F3 Uranium is proving with each new drill result that they have both. The deposit is truly starting to shape up.

Aside from more positive drilling results, another near-term catalyst for F3 Uranium is the possibility of getting added to more Uranium ETF’s.

A few weeks ago, the GlobalX URA ETF bought over 13M shares of F3 Uranium at $0.40. Their holdings can be viewed here: https://www.globalxetfs.com/funds/ura/#holdings

At the end of this month, the Sprott Uranium ETF portfolio rebalancing will occur and F3 Uranium meets all the criteria to be added in.

The criteria for the ETF is the Company needs to be involved in mining, exploring, developing, and/or producing uranium. A single security can be weighted to up to 15% or as low as 0.3%. All securities must have a minimum market cap of US$40M to be added to the index and maintain a minimum market cap of US$25M to remain in the index.

FUU fits all of these criteria (market cap: C$120M) and given the interest in the stock and liquidity versus other uranium names, it is very likely that FUU will be added to the ETF.

Whether or not they will do one big cross or buy in the open market is yet to be determined. But if they are added, we can expect another +10M shares of buying which should drive share price even higher either way.

In terms of risk/reward, F3 Uranium is, in my opinion, the best educated gamble one can make in the uranium space right now. With each additional drill result, the project is de-risked even further.

-SmallCapInvestor

DISCLOSURE

The publisher of this report was paid a fee of ten thousand Canadian dollars by F3 Uranium for the publication of this and other reports regarding the Issuer for a period beginning on or about March 14th, 2022 and set to end on or about June 14th, 2023. From time to time,the author of this report, the publisher, and the publisher’s directors, officers, and other insiders may purchase or sell securities of the Issuer.