The Northern Miner: Forum Uranium CEO touts 'very exciting' year on the Athabasca

A recent article in The Northern Miner highlighted Forum Uranium Corp. (TSXV:FDC) and their project in Saskatchewan’s Athabasca Basin.
As quoted from the article:

It’s not necessarily shaping up to be a particularly active year for the exploration community, but Forum Uranium (TSXV: FDC; US-OTC: FDCFF) is bucking the trend with a pair of drill programs it hopes will lead to another major discovery in in Saskatchewan’s prolific Athabasca Basin. The company enjoys the major advantage of a promising joint venture with Rio Tinto (NYSE: RIO; LON: RIO), but it has also succeeded in raising capital to fund solo exploration initiatives across an extensive collection of regional properties.
On Jan. 11 Forum announced that Rio has identified a number of drill targets from a 1,204 line km airborne magnetic and electromagnetic survey, and it will immediately be mobilizing two diamond drills to site. Previous drill work on the property has identified anomalous radioactivity within basement lithologies, as well as alteration and associated radioactivity common around unconformity deposits in the region.

The timing was perfect for Forum since it had been working on a $750,000 private placement when the news of Rio’s exploration plans hit the wire. On Jan. 13 the company announced it had increased the size of its financing to $850,000, which will consist of flow-through and hard shares priced at 5¢ each. Mazur speculates that over $600,000 of that capital will likely be in flow-through dollars.

The cash influx will allow Forum to pursue exploration of its own, which will predominantly focus on its Highrock targets at the Key Lake Road project roughly 15 km due south of Cameco‘s (TSX: CCO; NYSE: CCJ) Key Lake complex. Results of gravity surveys at the Highrock North and Highrock South concessions have identified a number of gravity lows, which could indicate zones of alteration, clay development and uranium mineralization along strong electro-magnetic conductors.

Forum’s goal is to combine its own work with Rio’s results to provide a steady news flow throughout the year. Another portion of capital will go towards a ground geophysics initiative at the company’s early-stage Fir Island prospect located along the regional Black Lake fault — part of the major Snowbird Tectonic Zone that marks the western boundary of the Mudjatik Domain.

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