Forum Commences Resistivity Survey on the Fir Island Uranium Option with Orano Canada

Forum Commences Resistivity Survey on the Fir Island Uranium Option with Orano Canada

Forum Energy Metals Corp. (TSXV: FMC) ("Forum" or "Company") is pleased to announce that an extensive resistivity survey has commenced on the Fir Island Uranium project under option to Orano Canada Inc. Orano is funding this $495,000 survey as part of its option to earn up to 70% of the Fir Island project by spending up to $6 million. Orano has funded two drill programs with Forum as Operator and upon completion of this program, Orano will have spent $3 million on the project to earn a 51% interest.

Drilling by Forum in 2020 and 2021 identified the 'Cathy Fault' that exhibits strong alteration, elevated geochemical indicators, and an abundance of dravite; a boron-rich clay that is present around most uranium deposits on the eastern side of the Athabasca Basin. A resistivity survey was completed on the project in 2019 and has proven to be an excellent tool for defining areas of alteration in the sandstone and basement lithologies. Resistivity lows typically indicate alteration and has worked well on the Fir Island project locating the strong alteration associated with the Cathy Fault. The current survey follows the northern strike extension of the Cathy Fault, locally defined by an EM conductor and a series of gravity lows (Figure 1). The gravity lows and conductor continue to the mainland where they intersect the major Black Lake Fault and a series of related large gravity lows. This survey should define a number of excellent drill targets for future programs.

Ken Wheatley, VP Exploration, stated, "The results from this survey should give Forum and Orano excellent drill targets in an area of the project with the most potential for a uranium deposit. These targets will be located right on the edge of the Athabasca sandstone basin, with sandstone cover ranging from 100m to 0m. The intersection of the Cathy Fault and the Black Lake Fault should provide some interesting drill targets, especially as the Black Lake Fault hosts the mined out Nisto showing, a small uranium deposit that was mined in 1959 and taken to Uranium City for processing."

Approximately 25 lines, spaced 200m apart, will be completed for the survey by Patterson Geophysics of La Ronge, SK. The program should take 4 to 6 weeks to complete.

Ken Wheatley, P.Geo., Forum's VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metal company with uranium, copper, nickel, and cobalt projects in Saskatchewan, Canada's Number One Rated mining province for exploration and development, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4908/122459_89829b4f44cd794e_003.jpg

Figure 1: Resistivity Survey Outline. The 2022 resistivity survey is shown in yellow shading, extending the historic survey to the north. The blue area on the historic survey is the strong zone of alteration detected by the historic surveys.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/122459_89829b4f44cd794e_003full.jpg

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122459

News Provided by Newsfile via QuoteMedia

FMC:CA
Forum Energy Metals

Forum Energy Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Forum Energy Metals

Forum Energy Metals


Keep reading...Show less
Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Engages Investor News Network and Grants Stock Options

Forum Engages Investor News Network and Grants Stock Options

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has entered into an agreement with Investing News Network ("INN") to provide an advertising and investor awareness campaign. The agreement is for a term of one year commencing March 1, 2024 and ending March 2, 2025. The cost of the campaign is $30,000 payable as to $15,000 on March 1, 2024 and $15,000 on September 1, 2024.

The Company also announces that, in accordance with the Company's stock option plan, it has granted to a consultant incentive stock options to purchase up to an aggregate of 100,000 common shares exercisable on or before March 11, 2025 at a price of $0.15 per share.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Energy Metals Corp. Invites Shareholders and Investment Community to visit them at Booth 2825 at PDAC 2024 in Toronto, March 3-6

Forum Energy Metals Corp. Invites Shareholders and Investment Community to visit them at Booth 2825 at PDAC 2024 in Toronto, March 3-6

Visit Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) at Booth #2825 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

About Forum Energy Metals Corp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum to Update Investors on Its Thelon Basin Uranium Drill Program at the Red Cloud Pre-PDAC Mining Showcase and the PDAC 2024 Convention in Toronto, Canada

Forum to Update Investors on Its Thelon Basin Uranium Drill Program at the Red Cloud Pre-PDAC Mining Showcase and the PDAC 2024 Convention in Toronto, Canada

You are welcome to join Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) at the Red Cloud Pre-PDAC Mining Showcase on Thursday, February 29 and Friday, March 1 at the Sheraton Centre Toronto Hotel followed by the PDAC Convention at the Metro Toronto Convention Centre, Sunday March 3rd through Wednesday March 6th.

Dr. Rebecca Hunter, VP, Exploration will be presenting at the Red Cloud Pre-PDAC Mining Showcase at 10:00am on Friday, March 1st and at the PDAC 2024 Uranium Technical Session at 10:00am on Tuesday, March 5th in Room 801A. Dr. Hunter will update investors on her plans for drilling on Forum's Thelon Basin uranium discovery in Nunavut, the next premier uranium mining district.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Drills 2.5 g/t Gold over 2.3 Metres Including 9.3 g/t Gold over 0.3 Metres at the Tatiggaq Uranium Deposit, Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Drills 2.5 g/t Gold over 2.3 Metres Including 9.3 g/t Gold over 0.3 Metres at the Tatiggaq Uranium Deposit, Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces significant gold assay values associated with high-grade uranium mineralization on the Tatiggaq deposit in the Thelon Basin at its newly re-named Aberdeen uranium project. Forum holds a 100% interest in 95,500 hectares of ground adjacent to Orano's 133 million pound Kiggavik uranium deposit* located 100 km west of Baker Lake, Nunavut. Drill core from two holes drilled into the Main and West zones of Tatiggaq were re-assayed for gold (Figure1).

HIGHLIGHTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
True North Copper

TNC Announces Institutional Placement

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to advise that it has signed binding documentation with Millinium Capital Managers Limited as trustee for MP Materials and Mining Group Fund for a placement of A$5 million comprising the issue of 41,666,667 fully paid ordinary shares in the Company (Shares) at an issue price of A$0.12 per Share (Placement).

Keep reading...Show less
Forte Minerals President and CEO Patrick Elliott.

Forte Minerals CEO Highlights Strategy for Prospecting, Acquiring Prolific Assets at Low Cost

Forte Minerals’ (CSE:CUAU) ability to discover and acquire exploration properties at a low cost in Peru has been largely accomplished through two strategies: seeking relinquished properties when the market is down, and employing remote sensing technology for discoveries, according to the company’s president and CEO, Patrick Elliott.

"Through low market times, we thrive on property acquisitions, deals, negotiating," he said. "It's usually around a time when other companies are relinquishing properties. A lot of the majors go through these periods whereby exploration gets the first cut. ... So we remain very flexible to be able to pick up these properties for nothing."

Elliott was commenting on the company’s recent acquisition of two properties in Peru — the Alto Ruri gold prospect and the Cerro Quillo gold-copper-molybdenum prospect — for a one-time cash payment of only US$25,000.

Keep reading...Show less
True North Copper

TNC Operational Update - Cloncurry Copper Project’s Mining Restart

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to provide an operational update on the mining restart at its 100% owned Cloncurry Copper Project (CCP).

Keep reading...Show less
Copper ore in foreground, with world map showing countries in copper on black background.

Copper Reserves: Top 5 Countries (Updated 2024)

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing; as a result, it’s prudent to know the top copper reserves by country when considering investing in the mining industry.

The Copper Development Association pegs current known worldwide copper ore resources at nearly 5.8 trillion pounds, of which only about 0.7 trillion pounds, or 12 percent, have been mined throughout history. Plus, nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of any other engineering metal.

Keep reading...Show less
Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Eyes Joint Ventures for VMS Projects in Europe

Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF,FWB:8AM) has achieved exploration milestones at the fully funded Alvalade copper-zinc volcanogenic massive sulfide project in Portugal and the Slivova gold project in Kosovo. CEO Paul Kuhn is keen to look for potential joint ventures to advance the company's projects.

“The idea is that we start the early phases of the project," he said. "We do the early exploration and hopefully discovery, which we've done at Slivova in Kosovo and the Sesmarias (target) in Portugal, and get them to a point where they are 'venturable.'”

Joint ventures, according to Kuhn, work better by allowing Avrupa and its partners to work together and resolve any problems related to exploration.

Keep reading...Show less
World Copper CEO Gordon Neal

New World Copper CEO Shares Plans to Advance Zonia Copper Project to Production

World Copper’s (TSXV:WCU) newly appointed CEO Gordon Neal wants to focus on advancing the Zonia copper oxide project in Arizona, US, to the development stage and transforming World Copper into a US-centric copper company.

“The US government, the Department of Energy, has determined that copper is a critical metal. And so there’s lots of attention and funds available for companies that have a US-domiciled project,” he said.

World Copper’s Zonia project has undergone extensive historical exploration and mine development planning, with a historical 2018 preliminary economic assessment and 2017 mineral resource estimate that show excellent economics, a mine life of 8.6 years and an average annual production rate of 49.1 million pounds.

Keep reading...Show less
Forum Energy Metals

Forum Energy Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×