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Forum Uranium Corp. (TSXV:FDC) and Uracan Resources Ltd. (TSXV:URC) reported drill results from the Clearwater project in the Athabasca Basin, Saskatchewan: Hole CW-10 intersected several fault zones with chloritization and variable hydrothermal hematization; and CW-11 intersected 36.5 ppm U3O8 between 242 and 254 metres down hole and 29.5 ppm U3O8 from 272 to 284 metres. The two drill holes focused on target areas that hosted the combination of an EM conductor and a coincident gravity low.
As quoted in the press release:
Hole CW-10 was drilled 270 metres south of hole CW-01 (see Forum Uranium’s April 17, 2014 news release for further details) and intersected several fault zones with chloritization and variable hydrothermal hematization, along with a graphitic fault gouge zone from 177 to 186 metres down the hole. Elevated uranium values were returned below 186 metres to the bottom of the hole at 242m, ranging between 14 ppm U3O8 and 84.9 ppm U3O8. The high of 84.9ppm U3O8 (partial digestion) was noted over a 6 metre wide interval.
CW-11 was located approximately 100 metres north of CW-03 and intersected a large deformation zone with strong mylonite development. Uranium values of 36.5 ppm U3O8 between 242 and 254 metres down hole and 29.5 ppm U3O8 from 272 to 284 metres down hole were noted within a quartz-rich granitic unit.
Click here to read the Forum Uranium Corp. (TSXV:FDC) press release
Click here to see the Forum Uranium Corp. (TSXV:FDC) profile.