Uranium Stock Sees Rare Outperformance Amid Mid-Week Selloff

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Wednesday, October 25, 2023

A Uranium company that is no stranger to catching our attention found success on Wednesday even as the broader market sharply sold off. This outperformance, which has been rare to find in recent sessions as equities continue to get beat down, came after the company clarified that ongoing drilling with one diamond drill at the JR Zone which has been defined over a strike length of 156m is filling in up and down dip on section lines where the mineralization remains open. The release went on to say that a second diamond drill is focused on exploration drilling to the south of the JR Zone, which the president of the company commented is “the most exciting recent discovery in the Athabasca Basin.”

Shares of F3 Uranium Corp. (TSXV:FUU) went on to close up at its session high of $0.395/share (+6.76%) on the day. This move could be an indication that the trading community has confirmed the recent support is legitimate, and that the multi-month uptrend will remain intact for the time being.

F3 Uranium Corp. operates as a uranium project generator and exploration company. The company holds 100% interests in the Clearwater West property that comprises 3 contiguous claims covering 11,786 hectares located in Saskatchewan, Canada; the Patterson Lake North property that consists of 38 claims covering 39,946 hectares situated in Saskatchewan, Canada; the Wales Lake property that comprises 31 claims covering an area of 40,986 hectares located in southwest Athabasca basin; and the Key Lake area portfolio consisting of the Bird Lake, Grey Island, Hobo Lake, Lazy Edward Bay, and Seahorse Lake properties, which comprise 81 claims and 57,131 hectares located in Saskatchewan, Canada. It also has 100% interests in the Beaverlodge/uranium city area portfolio that consists of 50 claims and 41,537 hectares located in Saskatchewan, Canada; and the northeast Athabasca basin area, which comprise 36 claims covering an area of 21,059 hectares situated in Saskatchewan, Canada. The company was formerly known as Fission 3.0 Corp. and changed its name to F3 Uranium Corp. in January 2023. The company was incorporated in 2013 and is headquartered in Kelowna, Canada.

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