Rio Tinto Canada Uranium Corporation Plans Winter Drill Program On Forum Uranium's 40% Owned Henday Property
Forum Uranium Corp. (TSXV:FDC) announced that Rio Tinto Canada Uranium Corporation is currently mobilizing two diamond drills to its 40% owned Henday property.
RTCUC has identified a number of drill targets from a 1,204 line kilometer airborne magnetic and electromagnetic survey completed this past summer. Henday is strategically located north-east of the Denison/AREVA Midwest Lake deposit and RTCUC’s Roughrider deposit and bordering AREVA/Denison’s McClean Lake uranium mine and mill.
The Geotech survey was flown in two directions over the property with lines oriented N040 & #8304; at 100 metre line spacing and with lines oriented N135⁰ at 200 metre line spacing. The survey was flown with an instrumentation clearance of 55 metres above ground. These parameters have resulted in a high resolution of data to be used for drill target selection. Coupled with a compilation of all geological, geophysical, geochemical and drill data in assessment files plus selective logging and sampling of available drill core, two high priority areas have been identified on the property for drilling this winter.
RTCUC has earned a 60% interest in Henday and Forum holds a 40% interest. RTCUC has the right to acquire an additional 10% interest in and to Henday by sole funding $20 million in exploration or delivering a Feasibility Study on the Henday property, whichever occurs first.