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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is pleased to announce drill results at its 100% owned Love Lake Nickel-Copper-Palladium project in north-eastern Saskatchewan. The Love Lake layered mafic complex is located approximately 100 kilometre east of Cameco's Key lake uranium mill along Highway 905 to the Rabbit Lake McClean Lake uranium mills (Figure 1). Forum completed twelve holes for a total of 2,844 metres on three targets - Korvin Lake, Korvin Creek and What Lake.
HIGHLIGHTS
What Lake
- LL-03 - 0.23% Cu, 0.05% Ni, 85 ppb Pt, 118 ppb Pd over 8.5 metres from 34.5m to 43m
Korvin Creek
- LL-08 - 0.56% Cu, 0.06%Ni, 5 ppb Pt, 14 ppb Pd over 13.5 metres from 24.5m to 38m
- LL-10 - 0.45% Cu, 0.07% Ni over 23 metres from 3m to 26m
Larry Hulbert, Cu-Ni-PGE Consultant to the Love Lake Project, stated, "The unusually high Copper/Nickel ratios associated with the magnesium-rich mafic to ultramafic host lithologies at Korvin Creek and their extreme PGE-depletion are incompatible and could suggest an unrecognized earlier sulphide-PGE segregation event. The anomalous Platinum and Palladium association at What Lake needs further investigation."
Over 2000 samples of core were taken to examine the geochemistry of this large layered system to determine the geological controls of the nickel, copper, platinum and palladium mineralization encountered at Love Lake. Detailed chemostratigraphic analyses through all the drill holes clearly indicate that these intersections reflect lithologies that are the products of an intrusive complex that has experienced a high degree of differentiation. Such differentiation is a fundamental requirement of intrusions that host Platinum Group Element (PGE) mineralization.
Drill holes 3 to 12 display classic textural examples of layered intrusion features and magmatic sulphides over wide intervals. However, anomalous concentrations of PGE only occurred in holes 3 and 4 at What Lake in lithologies that appear to be no different than that seen in holes 5 to 12 at Korvin Lake (Figure 2).
Results from this initial drill program by Forum are shown in Table 1.
TABLE 1
| WHAT LAKE | |||||||
| DDH | From (m) | To (m) | Interval (m) | Copper (%) | Nickel (%) | Platinum (ppb) | Palladium (ppb) |
| LL-03 | 34.5 | 43 | 8.5 | 0.23 | 0.05 | 85 | 118 |
| LL-03 | 46 | 48.5 | 2.5 | 0.28 | 0.07 | 65 | 79 |
| LL-04 | 201 | 206 | 5 | 0.37 | 0.01 | ||
| KORVIN CREEK | |||||||
| LL-08 | 24.5 | 38 | 13.5 | 0.56 | 0.06 | 5 | 14 |
| LL-08 | 39 | 44 | 5 | 0.18 | 0.03 | ||
| LL-08 | 68 | 69.5 | 1.5 | 0.19 | 0.01 | ||
| LL-09 | 72 | 73 | 1 | 0.25 | 0.02 | ||
| LL-10 | 3 | 26 | 23 | 0.45 | 0.07 | ||
| LL-10 | 94.5 | 101 | 6.5 | 0.21 | 0.04 | ||
| LL-10 | 106.5 | 108.5 | 2 | 0.20 | 0.02 | ||
| LL-12 | 66.5 | 68 | 1.5 | 0.30 | 0.09 | ||
| LL-12 | 73 | 77 | 4 | 0.15 | 0.05 | ||
| LL-12 | 91 | 94.5 | 3.5 | 0.15 | 0.03 | ||
| LL-12 | 123 | 125.5 | 2.5 | 0.11 | 0.01 | ||
| LL-12 | 134 | 135.5 | 1.5 | 0.18 | 0.03 | ||
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Love Lake Nickel-Copper-Platinum-Palladium- Project
The Peter Lake Domain in northern Saskatchewan is the largest mafic/ultramafic complex in North America second only to the Duluth Complex which is centered in the heart of the Midcontinent Rift System in Minnesota and Ontario and is host to numerous magmatic copper/nickel and platinum/palladium deposits. For over 250 km of the Peter Lake Domain numerous copper/nickel and platinum/palladium showings have been uncovered over the past fifty years that have received only sporadic exploration.
Forum staked 32,075 hectares over the 20km by 5km Love Lake Complex in 2019, a 2.56 billion year old, palladium enriched layered gabbroic intrusive. A 4,412 line kilometre Heli-GT magnetic/gradiometric survey was completed for Forum by SHA Geophysics in 2020, two field programs of geological mapping, geochemical sampling and prospecting were completed by Forum in 2019 and 2020 and a 588 line kilometre HeliSam Time Domain airborne EM survey was completed in 2021.
Larry Hulbert, P.Geo., Forum's Copper-Nickel-PGE Consultant and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
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Figure 1: Location of the Love Lake Cu-Ni-PGM Project along Highway 905.
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Figure 2 Hole LL-08 at 28 metres showing classic magmatic silicate-sulphide textures.
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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
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
Phone - 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119600
