Forum Uranium Corp. (TSXV:FDC) has entered into a purchase and sale agreement with Anthem Resources Ltd. (TSXV:AYN) whereby it will acquire Anthem’s 50 percent joint venture interest in the Karpinka project. This acquisition will give Forum 100 percent of the project.
As quoted in the press release:
Under terms of the Agreement, Forum will acquire Anthem’s 50% interest for 10,000 common shares and a 1% Net Smelter Royalty to Anthem with a 0.5% buyback provision by Forum for $1 million. Several radioactive boulders grading up to 0.42% U3O8 were discovered in the early 1970′s and drilling did not locate their source. Anthem’s predecessor company completed a TEMPEST airborne magnetic/electromagnetic survey in 2007 which identified a sequence of strongly conductive horizons associated with the Key Lake Road Shear Zone (KLRSZ). Forum has been exploring along the KLRSZ since 2004 and entered into a 50/50 joint venture on the Karpinka property with a predecessor company of Anthem in 2009.