Fintech
F3 Hits Mineralization within 8m of the Athabasca Unconformity
Kelowna, British Columbia–(Newsfile Corp. – July 17, 2023) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUF) (“F3” or “the Company“) is pleased to announce scintillometer results from four holes of the ongoing 30-hole summer drill program at the JR Zone on the Patterson Lake North (“PLN”) Property, including 2 high grade intercepts in mineralized intervals that are both within 11m of the Athabasca Unconformity. Drill hole PLN23-073 tested for mineralization 15 meters up-dip of the high grade intercept reported in PLN23-068 on line 060S (see NR July 4, 2023) and intersected mineralization over an 11.5m interval starting 8m below the unconformity, including 0.70m of high grade (>10,000 cps), of which 0.50m was off-scale radioactivity (>65,535 cps) between 225.00m and 225.50m. Drill hole PLN23-074 on line 075S intersected 15.0m of mineralization starting 11m below the unconformity, including 0.20m of high grade (>10,000 cps) between 228.15 and 228.35m.
Raymond Ashley, President, commented:
“We are excited that basement mineralization has been intersected even closer to the Athabasca Unconformity, now within 8m, as this reinforces the potential for an unconformity or sandstone component to the JR Zone mineralization. The discovery of mineralization at the unconformity or in the sandstone would provide a compelling new target for JR Zone expansion drilling. Tests up dip from the JR Zone mineralization are ongoing to define the best possible target at the unconformity for this drill program. The Shea Creek deposit 46km to the north of PLN and the Key Lake deposit on the east side of the basin are examples where basement hosted uranium mineralization extends through the unconformity and into the sandstone. The first step out hole on line 165S did not intersect mineralization but additional drill holes are being planned on that section to continue to expand the footprint along strike of the JR Zone basement mineralization. In addition, exploration drilling along the A1 main shear zone has commenced, and prospective targets will be tested.”
Drilling Highlights:
PLN23-073 (line 060S):
- 11.5m mineralization from 215.5m – 232.0m, including
- 0.70m mineralization of >10,000 cps radioactivity between 225.00m – 225.70m including 0.50m off-scale radioactivity (> 65,535 cps) between 225.00m and 225.50m
PLN23-074 (line 075S):
- 15.0m mineralization from 225.0m – 240.0m, including
- 0.20m of mineralization >10,000 cps between 228.15 and 228.35m
Drilling Intercepts:
PLN23-071 (line 165S):
- No mineralization >300 cps
PLN23-072 (line 690S): Exploration Hole
- No mineralization >300 cps
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.
All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.
Table 1. Drill Hole Summary and Handheld Spectrometer Results
| Collar Information | * Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum) | Athabasca Unconformity Depth (m) | Total Drillhole Depth (m) | |||||||||
| Hole ID | Section Line | Easting | Northing | Elevation | Az | Dip | From (m) | To (m) | Interval (m) | Max CPS | ||
| PLN23-071 | 165S | 587780.0 | 6410597.1 | 545.2 | 53 | -60 | no radioactivity >300 cps | 179.0 | 323 | |||
| PLN23-072 | 690S | 588216.9 | 6410265.7 | 530.3 | 54 | -74 | no radioactivity >300 cps | n.a. | 257 | |||
| PLN23-073 | 060S | 587754.6 | 6410708.7 | 545.6 | 54 | -61 | 215.50 | 216.00 | 0.50 | 320 | 205.5 | 341 |
| 221.00 | 221.50 | 0.50 | 490 | |||||||||
| 221.50 | 222.00 | 0.50 | 1200 | |||||||||
| 222.00 | 222.50 | 0.50 | 520 | |||||||||
| 222.50 | 223.00 | 0.50 | <300 | |||||||||
| 223.00 | 223.50 | 0.50 | 480 | |||||||||
| 223.50 | 224.00 | 0.50 | 330 | |||||||||
| 224.00 | 224.50 | 0.50 | 1600 | |||||||||
| 224.50 | 225.00 | 0.50 | 4900 | |||||||||
| 225.00 | 225.50 | 0.50 | 65500 | |||||||||
| 225.50 | 225.70 | 0.20 | 20800 | |||||||||
| 225.70 | 226.00 | 0.30 | 9000 | |||||||||
| 226.00 | 226.50 | 0.50 | 7600 | |||||||||
| 226.50 | 227.00 | 0.50 | 590 | |||||||||
| 227.00 | 227.50 | 0.50 | 620 | |||||||||
| 227.50 | 228.00 | 0.50 | 860 | |||||||||
| 228.00 | 228.50 | 0.50 | 740 | |||||||||
| 228.50 | 229.00 | 0.50 | 1000 | |||||||||
| 229.00 | 229.50 | 0.50 | 610 | |||||||||
| 229.50 | 230.00 | 0.50 | 720 | |||||||||
| 230.00 | 231.50 | 1.50 | <300 | |||||||||
| 231.50 | 232.00 | 0.50 | 340 | |||||||||
| PLN23-074 | 075S | 587745.9 | 6410683.9 | 545.7 | 56 | -60 | 225.00 | 225.50 | 0.50 | 430 | 209.4 | 314 |
| 225.50 | 226.00 | 0.50 | 1600 | |||||||||
| 226.00 | 226.50 | 0.50 | 580 | |||||||||
| 226.50 | 227.00 | 0.50 | 1900 | |||||||||
| 227.00 | 227.50 | 0.50 | 530 | |||||||||
| 227.50 | 228.00 | 0.50 | 4800 | |||||||||
| 228.00 | 228.15 | 0.15 | 4100 | |||||||||
| 228.15 | 228.35 | 0.20 | 16000 | |||||||||
| 228.35 | 228.50 | 0.15 | 4800 | |||||||||
| 228.50 | 229.00 | 0.50 | 1700 | |||||||||
| 229.00 | 229.50 | 0.50 | 3700 | |||||||||
| 229.50 | 230.00 | 0.50 | 2000 | |||||||||
| 230.00 | 230.50 | 0.50 | 3500 | |||||||||
| 230.50 | 231.00 | 0.50 | 910 | |||||||||
| 231.00 | 231.50 | 0.50 | 2100 | |||||||||
| 231.50 | 232.00 | 0.50 | 810 | |||||||||
| 232.00 | 232.50 | 0.50 | <300 | |||||||||
| 232.50 | 233.00 | 0.50 | 480 | |||||||||
| 233.00 | 233.50 | 0.50 | 3200 | |||||||||
| 233.50 | 234.00 | 0.50 | 2400 | |||||||||
| 234.00 | 236.00 | 2.00 | <300 | |||||||||
| 236.00 | 236.50 | 0.50 | 1900 | |||||||||
| 236.50 | 237.00 | 0.50 | 3100 | |||||||||
| 237.00 | 237.50 | 0.50 | 1100 | |||||||||
| 237.50 | 238.00 | 0.50 | 440 | |||||||||
| 238.00 | 238.50 | 0.50 | 960 | |||||||||
| 238.50 | 239.00 | 0.50 | 1800 | |||||||||
| 239.00 | 239.50 | 0.50 | 1400 | |||||||||
| 239.50 | 240.00 | 0.50 | 770 | |||||||||
Handheld spectrometer composite parameters:
1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m
About Patterson Lake North:
The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.
Qualified Person:
The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: [email protected]
ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
(See 2 plan maps and 4 cross sections below)
Figure 1: Patterson Lake North Summer 2023 Drill Program Update Map 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_004full.jpg
Figure 2: Patterson Lake North Summer 2023 Drill Program Update Map 2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_005full.jpg
Figure 3: Patterson Lake North (PLN) JR Zone Cross Section Line 060S Looking 322°
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_006full.jpg
Figure 4: Patterson Lake North (PLN) JR Zone Cross Section Line 075S Looking 322°
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_007full.jpg
Figure 5: Patterson Lake North (PLN) JR Zone Cross Section Line 165S Looking 322°
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_008full.jpg
Figure 6: Patterson Lake North (PLN) JR Zone Cross Section Line 690S Looking 322°
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/173739_7a42d676c4dc4921_009full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/173739
Fintech
MapMetrics expands to peaq from Solana following addition of Solana compatibility to peaq’s Multi-Chain Machine IDs
peaq, the blockchain for real-world applications, announces the expansion of its ecosystem and product offering. MapMetrics, a Web3 drive-to-earn navigation app, will leverage peaq as part of its decentralized physical infrastructure network (DePIN) powering a Google Maps-style service. The development comes as peaq adds Solana compatibility to its Multi-Chain Machine IDs.
A Solana-originating project, MapMetrics will leverage the now Solana-compatible peaq IDs to build functions of the MapMetrics DePIN on peaq. These will include assigning peaq IDs to the navigator devices on its DePIN, using these IDs to authenticate the data collected by these devices, and a community voting mechanism.
Free navigation apps have become trusty companions for countless people around the world, with Google Maps alone boasting over a billion users. But despite a lack of an upfront cost, they come with a price of their own. When something is free, you are the product; when navigation is free, your personal data is being monetized. From leveraging the user’s position data for valuable insights on specific locations to serving them targeted location-based ads, the companies behind such apps profit from our sensitive data, sometimes without giving much thought to its privacy and protection. And in the case of massive companies like Google, they combine this data with the data sourced from all other Google-related data points to create digital models of ourselves, able to predict our behavior than ourselves.
MapMetrics is changing the equation by putting navigation on Web3 rails. It uses location trackers that enable users to share their anonymized data with the network, earning cryptocurrency and NFTs as rewards. While featuring its own ad engine, it makes sure that no private user data is exposed to the advertisers and shares the ad revenue with the community. It boasts 3,500 devices in the network and 5,000 users across 73 countries.
As part of its integration with peaq, MapMetrics will use peaq’s Multi-Chain IDs to enable devices to connect with the peaq network. It will build and deploy some of the core functions powering its navigation DePIN on peaq, using peaq IDs to authenticate and sign the anonymized data that the devices collect. It will also tap peaq to build a community voting pallet — a building block that other projects will be able to use as well — which will enable the community to contribute to its Google Maps-style navigation service by adding the locations of speed cameras and other objects and validating it with votes.
This comes as peaq expands the compatibility of its peaq IDs to include Solana. Enabling this is an address map running as part of the peaq storage pallet, pallets being modules for building blockchains in the framework that peaq runs on. This map works like an address book, linking addresses of different standards used on various networks and thus enabling cross-chain communication and information exchanges.
For example, with this integration, a solar panel with an ID on Solana will be able to connect to an energy marketplace on peaq. The previous updates made peaq IDs compatible with Binance’s BNB Chain, Ethereum Virtual Machine, and Cosmos. peaq’s steps toward its Multi-Chain vision have already eased the transition for projects coming from Algorand and Polygon, and will now unlock new opportunities for MapMetrics and other projects in the Solana ecosystem.
The peaq ID compatibility expansion enables teams originating on Solana to expand and leverage peaq’s DePIN functions without friction or fragmentation. With peaq Multi-Chain IDs, Solana-originated projects can easily tap peaq for some of their crucial functions.
“With its DePIN-focused functions and economics, peaq is the perfect home for DePINs,” says Brent van der Heiden, CEO of MapMetrics. “We are excited to be joining this bustling ecosystem, and the newfound compatibility between peaq IDs and Solana addresses is making this process significantly more convenient.”
“We believe in an open, Multi-Chain Web3 with seamless communication and value exchange between a plethora of protocols,” says Till Wendler, co-founder of peaq. “By making peaq IDs compatible with Solana, we take another step toward bringing this vision to life — and it’s invigorating to see excellent projects such as MapMetrics use this technology to solve real business problems with the DePIN model.”
Spool DAO, or Spool, the platform allowing institutions and users to build customizable risk-managed DeFi products, launches its V2 upgrade. Spool’s new platform expands its original DeFi infrastructure and tools, with heightened decentralized access and new capabilities. Institutions of all sizes can now leverage its slate of new features and interface updates to build, manage, and explore DeFi products with unparalleled flexibility, risk reduction, and security.
Despite crypto’s whirlwind year, DeFi’s blue-chip protocols managed to largely withstand the industry-wide chaos. But that doesn’t mean the DeFi landscape hasn’t changed at all. Looming regulatory steps, such as the new bipartisan bill entering the U.S. Senate, aim to monitor DeFi apps similarly to banks, setting the stage to accommodate increasing interest from legacy financial institutions. Banks and institutions clearly see potential in crypto and DeFi’s financial possibilities, but they lack the proper tools to enter it easily, compliantly, and on their terms.
To meet this institutional need, Spool now provides a completely rebuilt platform for risk-managed and automated DeFi yield. Created from the ground up to be faster, more efficient, more composable, and easier to use than its predecessor, V2 represents a leap for Spool and institutions expanding their DeFi presence. The upgrade expands upon Spool’s core offering and introduces several key features to maximize the effectiveness of institutional DeFi investment. These features and enhancements include:
-
- Multi-Asset Smart Vaults: Institutions creating Smart Vaults can now build them to contain a range of yield strategies using multiple assets. Multi-asset Smart Vaults enhance functionality in addition to Spool’s classic auto-swapping and auto-rebalancing capabilities. Investors can simply create or pick an existing Smart Vault that matches their investment preferences, and send the assets they have available. The assets are then automatically swapped and implemented in audited and battle-tested smart contracts to attain the best yields possible while allowing funds to be withdrawn at any time.
- Smart Vault Guards: Institutions building Smart Vaults can now dictate which users can deposit or withdraw from the Vault based on specific criteria, mirroring traditional investment funds. This helps institutions tailor DeFi offerings not only to regulatory compliance but to their specific client needs as well. Institutions can create KYC and AML-compliant Smart Vaults, for example, and only allow access to vetted investors through whitelisted wallets. Other parameters include NFT or Token Gating (where a user must hold a specific NFT or token amount to access the vault), and Time Locks.
- Actions: Spool builders can now implement customizable actions tied to user activities such as entering or exiting a Smart Vault that is configured during its creation. Actions help support institutions by creating a framework that feels familiar to traditional finance and includes features such as deposit or withdrawal fees, deposit insurance fees, and automated asset swaps that help streamline the once-manual process for yield farming.
- Liquid Staking Derivatives (LSDs) Support: LSDs are tokens issued in return for staking cryptocurrency through a staking provider. This comes in handy for networks such as Ethereum, where validators must hold a minimum of 32 ETH to access staking and validator privileges. LSDs also allow users to withdraw staked ETH, which validators cannot do. As strategies using LSDs become more popular and prevalent, adding support in V2 enables greater convenience.
- Advanced Automation: One of DeFi’s major obstacles lies in manual asset management within yield farms. V2 improves upon Spool’s original automation features while maintaining decentralization and self-custody. Once assets are within a Smart Vault portfolio, V2 automatically rebalances them between various strategies configured in the Vault. Spool also now offers automated collateral conversion, meaning clients investing in a Smart Vault can utilize any underlying asset they have available. Spool automatically converts the asset before investing, granting increased ease and choice.
- Deposit NFTs (dNFTs): D-NFTs provide users with an immutable NFT receipt of their Smart Vault deposits, enabling the withdrawal of funds. ERC-20 Smart Vault Tokens (SVTs) are created by burning D-NFTs and act as yield-bearing stablecoins, which can be easily transferred or traded on a secondary market, creating a new liquid financial instrument.
Check out Spool’s video here: https://drive.google.com/file/d/150B6sSdX9gMAjdig-5675nLfftciWidJ/view
More detailed video with features overview can be found here: https://drive.google.com/file/d/1uIr_AJ_iHKErkHR5lFaUWk39A4-NUtEo/view?usp=drive_link
Among these new features, Spool V2’s completely redesigned interface allows institutions and asset managers to have a birds-eye view of their Smart Vault portfolio. The platform champions accessibility while providing the comprehensive tools and oversight that institutions require. This includes tools for easily white-labeling Smart Vaults for client access with their own branding and unique insights into Smart Vault performance based on customizable KPIs.
By enabling the codeless creation of financial services and products backed by audited financial primitives, institutions that don’t have DeFi-specific teams are now able to easily access DeFi. The upgrade’s capabilities set the stage for large-scale institutional partnerships in the pipeline for Spool, following a steady stream of integrations and collaborations leading up to its launch.
“We are incredibly proud to launch Spool V2 after countless months of our team developing, testing, and listening to the feedback and needs of our institutional partners,” says Philipp Zimmerer, Lead of Token Strategy of Spool. “This lands at a pivotal moment in crypto in a year that has been all about responsibly rebuilding the industry and forging a new path for DeFi. Improving access, flexibility, and security will not only garner further institutional support but set a new standard for what DeFi can make possible for any investor.”
Fintech
SquaredFinancial embarks on the next phase of growth, setting the backbone of business success
Founder and CEO of SquaredFinancial Group Philippe Ghanem, a 20-year veteran in the financial industry, had issued, at the beginning of this quarter, an inspiring call for talent to join his leading company, highlighting that people are the cornerstone of any successful enterprise, catalysing growth and steering innovation.
As the Group embarks on an exciting phase of expansion and growth, it bolsters its leadership team with six industry-seasoned executives. The latest key appointments will strengthen the current team comprised of industry experts and professionals, which had laid the groundwork for a revolutionary path.
SquaredFinancial Group’s exceptional journey in financial technology since 2005 has been marked by innovation and an unwavering commitment to providing top-tier service to investors around the world. Fuelled by a steadfast vision, the company, alongside its management and team, has always stayed at the forefront by leveraging cutting-edge technology, offering a diverse range of services to investors.
The new appointments:
Craig Jenkins, Chief Legal & Compliance Officer. He brings more than 16 years of expertise in Legal, AML and Compliance, and will oversee the consolidation and health of the compliance system.
Thomas Selby, Chief Sales Officer. With 15 years of experience in sales and business development in prime FinTech and online trading, he will lead the business development strategy to drive more revenue growth.
Thomas Selby, Chief Sales Officer. With 15 years of experience in sales and business development in prime FinTech and online trading, he will lead the business development strategy to drive more revenue growth.
Dominique El Khoury, Global Head of Sales and Business Development – GCC & MEA. Having 12 years of experience in the trading industry, he will spearhead the expansion of sales initiatives and business growth within the region.
Drosoula Hadjisavva, Chief Marketing Officer. With 13 years of proven track record in heading global marketing operations across leading fintech, she will be responsible for redefining the marketing strategy and brand positioning.
Spyros Andreou, Chief Technology Officer. With a stellar background in IT and network engineering, he will harness and leverage technology to optimize organizational and operational performance and security.
Catharine Ioannou, Chief Human Resources Officer. With proven expertise in human resources, talent acquisition and advancement, she will steer the company’s efforts to create a more inclusive workforce, nurture loyalty and foster a culture of merit and excellence.
Commenting on the announcement, Philippe Ghanem said: “People are catalysers of growth and drivers of innovation. I’m happy to welcome these new forward-thinking minds, as their arrival marks a significant milestone for SquaredFinancial. Each of them has proven expertise and will bring, in strong collaboration with the current team of talents, strategic value and experience to the company, further shaping its future. But most of all, I feel deep responsibility towards all our stakeholders – our employees, our clients and our shareholders – as we write this new chapter of our company’s 15-year legacy. The rapid growth that our company has witnessed over the past couple of years has forged new challenges but also great opportunities, and we are well-positioned to seize them, today more than ever. The industry is witnessing transformative change, and we are more than ever committed to supporting our customers with passion, professionalism and dedication to address their needs with the utmost standards they deserve.”
The recently appointed executives will join the current leadership team comprised of:
Philippe Ghanem, Founder and CEO
Manie Van Rooyen, Partner and Chief Operations Officer
Ali Rupani, Partner and Global Head of Front Office
Stathis Flangofas, Group Chief Financial Officer
Philios Petrides, Chief Data & Product Officer
Noureldeen Hammoury, Chief Market Analyst
Chrysovalantis Karageorgiou, Global Head of Operations
Constantinos Ghalanos, Head of Dealing
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