Rio Tinto Exploration Canada Identifies New Zone Of Anomalous Uranium Mineralization On Forum’s 40% Owned Henday Property, Athabasca Basin

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TSXV:FDC

Forum Uranium Corp. (TSXV:FDC) announces that Rio Tinto Exploration (“RTX”) has completed a 15 hole, 5,340 metre drill program on three target areas at its 40% owned Henday Property, located northeast of Rio Tinto’s Roughrider uranium deposit nearby the AREVA/Denison McClean Lake mill in Saskatchewan’s Athabasca Basin.

Forum Uranium Corp. (TSXV:FDC) announces that Rio Tinto Exploration (“RTX”) has completed a 15 hole, 5,340 metre drill program on three target areas at its 40% owned Henday Property, located northeast of Rio Tinto’s Roughrider uranium deposit nearby the AREVA/Denison McClean Lake mill in Saskatchewan’s Athabasca Basin. Six holes were drilled in the Hollow Lake target area, 6 holes in the Elephant target area, and 3 holes in the Epitaph target area.
As quoted in the press release:

Hollow Lake: five out of six holes intersected significant alteration. One hole, 16HDY007 intersected anomalous uranium mineralization in two discrete 0.3m uraniumbearing fractures at 177.4m and 182.4m, respectively (Figure 2). Assay results indicate the fracture at 177.4m contains 523 parts per million (ppm) uranium total digestion (UTD), whereas the fracture at 182.4m contains 469ppm UTD. Both intervals are hosted in pelitic gneiss within a 20m interval of pervasive argillization, strong illite, weak hematite, and moderate to strong black chlorite alteration as well as 2.2m of elevated uranium (187–275ppm UTD, Table 2). Four holes drilled within a 200m zone of 16HDY007 have rotated bedding, quartz dissolution, and local silicification of Athabasca sandstone along with moderate to strong argillization, moderate hematite alteration and moderate to strong black chlorite alteration. These factors make the Hollow Lake area a priority target for follow-up work.

Hole ID

From (m)

To (m)

U

B

As

Cu

Mo

Ni

Pb

16HDY013

153.5

154.0

0.52

946

1.27

2.13

2.92

0.65

3.92

16HDY013

154.0

154.5

0.76

1000

2.33

3.23

6.23

1.03

6.6

16HDY013

154.5

155.0

0.44

254

4.3

3.5

2.56

1.89

4.1

16HDY013

155.0

155.5

1.04

56

4.34

15.9

2.8

1.59

2.74

Sandstone results above

basement results below.

16HDY007

175.2

176.2

187

6.6

20.4

12.4

0.78

57.4

17

16HDY007

176.2

177.4

275

9.19

32

19.4

0.92

62.5

23.8

16HDY007

177.4

177.7

523

3.91

28

35.7

0.65

92.4

40.1

16HDY007

182.43

182.73

469

34.8

55.2

731

5.23

248

56.4

16HDY007

188

189

69.6

53.2

286

2160

52.2

174

612

16HDY007

191

192

102

39.2

95.6

163

6.79

103

70.3

16HDY011

260

261

48.2

1310

2210

330

240

2270

76.5

16HDY011

261

262

69.3

1190

2380

320

339

2480

112

16HDY013

198

198.5

10.2

31.5

50.7

766

18.3

49

1310

16HDY013

198.5

199

81.9

265

431

3340

442

464

1640

16HDY013

199.49

200

98

588

1180

1680

501

1320

171

16HDY013

211

212

20.4

292

1100

369

114

1170

44.9

16HDY015

322.8

323.3

150

0.82

7.57

66.1

0.78

14.8

79.2

Table 1: Highlights from the Hollow Lake target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion.
Epitaph: all three holes contained significant faulting, illitic clay, quartz dissolution, minor red hematite alteration, and rotated bedding in the sandstone, coupled with pervasive clay with weak hematite, limonite, and black chlorite alteration in the basement. A 1.0m interval at 286.8m in hole 16HDY002 returned 214ppm UTD in graphitic pelitic gneiss. Follow-up hole 16HDY004 intersected 131ppm UTD at 256.9m in pelitic gneiss. Structural disruption and alteration of this type is favourable for uranium mineralization, and follow-up drilling is recommended.

Hole ID

From (m)

To (m)

U

B

As

Cu

Mo

Ni

Pb

16HDY002

149.25

149.5

2.82

24

1.02

0.29

0.08

2.92

1.2

16HDY002

286.8

287.8

214

78.6

47.4

158

2.83

55.2

37.1

16HDY004

256.9

257.4

131

10.9

20

11.9

1.77

26.5

34.5

Table 2: Highlights from the Epitaph target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion. Sandstone results are above the space in the table, basement results are below.
Elephant: four out of the six holes drilled contained structurally disrupted sandstone with illitic clay, local minor red hematite alteration, and quartz dissolution. Basement alteration consisted of pervasive, red hematized clay near the unconformity along with black chlorite alteration in shear zones below. Further drilling to follow up areas with uranium-associated alteration and structural disruption is also recommended.

Hole ID

From (m)

To (m)

U

B

As

Cu

Mo

Ni

Pb

16HDY001

160.15

160.65

2.54

161

5.41

0.6

0.12

2.9

2.59

16HDY003

101.6

102.6

1.2

25

11.6

9.14

1.14

0.28

1.91

16HDY003

102.6

103.1

4.55

16

11.9

13.3

1.3

5.25

1.36

16HDY005

148.5

149.0

3.48

11

1.86

0.98

0.11

1.4

1.18

16HDY005

149.0

149.5

3.64

10

1.98

0.88

0.12

1.37

1.65

16HDY005

150.4

150.88

1.99

15

2.07

1.07

0.4

1.04

1.81

16HDY006

154.0

154.73

1.37

382

1.75

0.56

0.22

1.57

2.62

16HDY012

149.0

149.5

1

469

1.53

1.42

0.04

1.18

3.54

16HDY006

249.18

250.31

6.13

514

1170

11

3.98

664

9.86

Table 3: Highlights from the Elephant target winter 2016 sandstone and basement assays. All results are reported in ppm. All elements except Boron (B) reported as partial digestion; boron reported as near total digestion.

Forum Uranium VP of Exploration, Ken Wheatley, stated:

The size and strength of the alteration intersected at the Hollow Lake target suggest that uranium bearing fluids have migrated through significant structures in the area. Further work is required to determine the control of uranium mineralization and the potential areas for where it may have been deposited. We are very pleased with the positive results and quality of work from this first pass drill campaign by our partner on this project.

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