The north end of the PW property is located 7.5 km to the south of F3’s JR zone high-grade uranium discovery on its PLN property and it is immediately to the west and contiguous with the F3 Broach Lake property, on the southwestern edge of the basin.
The company will incorporate the 30.1-sq.-km. of PW property claims into its Broach Lake property, which together with the PLN and Minto properties will collectively become the PLN project. CanAlaska will receive 37 mineral claims totaling the 148.5 sq. km. of the Hobo Lake project.
F3 discovered the JR zone in 2022 with a hole that returned 15 metres grading 6.97% uranium oxide (U3O8), including 5.5 metres at 18.5% U3O8, and including 1 metre at 59.2% U3O8.
Each company will retain a 2.5% net smelter returns royalty on all production from the property it swapped, and the other company will have a repurchase right for 1% of the NSR royalty from the royalty holder for C$3 million.
F3…
