Forum Uranium Intersects 87 ppm Uranium at Its 100% Owned Karpinka Property

VANCOUVER, BC / ACCESSWIRE / October 18, 2016 / Forum Uranium Corp. (TSXV:FDC) is pleased to announce results from its summer drill program on the road accessible 100% owned Karpinka project, located along Highway 914 approximately 30 km southwest of the Key Lake mill.
A widely spaced, four-hole drill program totaling 576 metres on shallow targets was based on data from existing ground gravity, ground EM, magnetic and soil gas hydrocarbon surveys conducted by Forum over the last five years. An airborne EM survey (TEMPEST) flown in 2007 identified a sequence of strongly conductive horizons associated with the Key Lake Road Shear Zone, a major structure that marks the boundary of the fertile and productive Wollaston domain and the Mudjatic domain to the west. Cameco’s Millennium deposit* (53.0 million pounds indicated, grading 2.39% U₃O₈ and 20.2 million pounds inferred, grading 3.19% U₃O₈) occurs to the north along an interpreted similar geological setting.
The first three holes targeted the major graphitic EM conductor that traverses the project (Figure 1), with each hole intersecting a tectonized, altered graphitic shear zone that marks the border between two major lithological units (metasediments on the east, granitic gneisses on the west). Highlights are as follows:
KAR-01 intersected the graphitic shear zone at the top of the hole and returned values of up to 87ppm uranium and 163ppm nickel with vuggy quartz veins, secondary hematite and pyrite.
KAR-02 intersected the graphitic shear zone at approximately 120m depth with weakly elevated copper (187ppm) and boron (73ppm), while at the bottom of the hole (146.7 to 153m), 6.3 metres of 81 ppm of uranium was intersected. The uppermost 6 metres of this hole returned 171ppm boron in chloritized pelitic metasediments.
KAR-03 intersected the graphitic shear zone from 43 to 70m with up to 12ppm uranium and 1640ppm copper in a section with up to 50% core loss.
KAR-04 targeted a strong gravity low near the south end of the property with no associated conductor and returned mainly pelitic to psammo-pelitic metasediments with strong sections of chloritization, argillization, bleaching, core loss and rubble. Hydrothermal hematite was noted on some fracture surfaces.
These are very encouraging results for an initial drill campaign given the limited amount of metres. Further drilling is recommended on a number of other shallow targets (combination of gravity and EM) on this underexplored project.
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