Base Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has received its drill permit for the Highrock Uranium Project (Figure 1) under option to Sassy Resources Corporation (see News Release dated January 6, 2022). Forum, as Operator will manage a $1 million drill program for 3,000 metres in 10 to 12 holes. Mobilization for access to the drill sites by a winter haul road has commenced with drilling anticipated in February. Forum and Sassy will provide a thorough overview of the project plans once drilling commences.

The property is located just south of the Key Lake mine and mill site. The Key Lake mine generated historic production of greater than 200 million pounds of uranium during its mine life. The Key Lake site continues to host a uranium processing facility operated by Cameco.

Rick Mazur, President & CEO commented, "We commend the English River First Nation for their input on the project parameters during the engagement process and their collaboration in providing services to Forum for execution of this drill program."

Ken Wheatley, Forum's Vice President, Exploration stated, "We are keen to get back onto the Highrock property and follow-up on the two main areas of interest. The first area is immediately adjacent to the southernmost Key Lake project claim, testing a large gravity low that covers the same EM graphitic conductor that hosts the Key Lake deposits. The second area will test a series of gravity lows along the same EM graphitic conductor on the southern part of the project."

The Company also announces that, in accordance with the Company's stock option plan, it has granted to certain of its directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 200,000 common shares exercisable on or before January 24, 2027 at a price of $0.20 per share.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4908/111277_b73ef19ee4b1f816_003.jpg

Figure 1 The Highrock project is located just south of the Key Lake uranium deposit along the graphitic conductor trend that hosts Key Lake.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/111277_b73ef19ee4b1f816_003full.jpg.

Ken Wheatley, P.Geo., Forum's Vice President, 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 and a strategic cobalt land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com.

This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

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/111277

News Provided by Newsfile via QuoteMedia

FMC:CA
Forum Energy Metals

Forum Energy Metals


Keep reading...Show less
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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Intersects Uranium Mineralization at the Wollaston Project, Athabasca Basin, Saskatchewan

Forum Intersects Uranium Mineralization at the Wollaston Project, Athabasca Basin, Saskatchewan

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has completed drilling eight holes for 2,062 metres on its 100% owned Wollaston Uranium Project, located 10km southeast of Cameco's Rabbit Lake mill and 30km southeast of OranoDenison's McClean Lake mill (Figure 1).

HIGHLIGHTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Drilling Intersects 13.5 Metres Grading 0.56% Copper, 0.06% Nickel, 5 ppb Platinum and 14 ppb Palladium at the Love Lake Nickel - Copper - Palladium Project, Saskatchewan

Forum Drilling Intersects 13.5 Metres Grading 0.56% Copper, 0.06% Nickel, 5 ppb Platinum and 14 ppb Palladium at the Love Lake Nickel - Copper - Palladium Project, Saskatchewan

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

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum to Advance Its Nunavut Uranium Project; Appoints Technical Team and Commences Permitting Process

Forum to Advance Its Nunavut Uranium Project; Appoints Technical Team and Commences Permitting Process

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has engaged former Cameco Project Geologist, Rebecca Hunter, former Cameco Logistics Manager, Leon Davis and Denise Lockett, Permitting and Engagement as consultants to Forum's Nunavut Uranium Project.

Rick Mazur, President & CEO, stated, "Rebecca was instrumental in the exciting early days of the Tatiggaq and Qavvik discoveries and brings a wealth of geological knowledge to Forum. Leon lived and worked in Nunavut for eight years and understands the unique operating conditions of the project. Denise has been working with Nunavut regulators and communities for over twenty five years. Our Team is committed to the successful discovery of a Tier One uranium deposit next door to Orano's Kiggavik Development Project."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Commences Drilling at Wollaston Uranium Project, Athabasca Basin, Saskatchewan

Forum Commences Drilling at Wollaston Uranium Project, Athabasca Basin, Saskatchewan

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has commenced drilling on its 100% owned Wollaston Uranium Project, located 10km southeast of Cameco's Rabbit Lake mill and 30km southeast of OranoDenison's McClean Lake mill (Figure 1).

Ken Wheatley, Forum's Vice President, Exploration, stated, "The northeastern area of the Athabasca Basin is the home to numerous uranium deposits. Since the original discovery of the Rabbit Lake mine in 1968, the McClean, Sue, Collins Bay and Eagle Point deposits have been mined, and the Midwest, Midwest A and Roughrider deposits are waiting for future development. The presence of two uranium processing mills within driving distance of the project adds immensely to the value of the project."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Hot Chili Limited

Another High Grade Boost for Cortadera 658m at 0.6% CuEq including 130m at 0.9% CuEq

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) (“Hot Chili” or “Company”) is pleased to report another outstanding drill result at the Cortadera porphyry deposit, part of the Company’s Costa Fuego, coastal range, copper-gold hub in Chile.

Highlights

Keep reading...Show less
Atico Mining

Atico Mining Corporation Announces EIA approval for its 100% owned La Plata Project in Ecuador

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) is pleased to announce that it has received approval of the Environmental Impact Assessment ("EIA") for the construction and operations of its La Plata mining project located in Ecuador (the "La Plata project").

The La Plata project has been identified by President of Ecuador, Guillermo Lasso as a strategic project and a component of the country's reactivation plan. As a part of this plan, President Lasso has committed to accelerating the restart of the country's economy by leveraging the potential of its mining industry while positioning Ecuador as a major mining investment destination in Latin America.

Keep reading...Show less
LME Copper vs. COMEX Copper

LME Copper vs. COMEX Copper

For those new to copper investing, keeping track of copper prices can be confusing. Below is a look at the different metals exchanges that copper investors should know about.

Copper traded on the London Metal Exchange (LME), or LME copper, is priced per metric ton (MT), but COMEX copper, or contracts traded on the COMEX division of the New York Mercantile Exchange (NYMEX), are priced per pound.

Both markets provide valuable information for those following the copper market or investing in copper stocks. Here’s a short overview of both LME copper and COMEX copper, and why it’s important for investors to know what they are.

Keep reading...Show less

Turquoise Hill Announces Amendment to Comprehensive Financing Arrangement with Rio Tinto

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") today announced that the Company and Rio Tinto International Holdings Limited ("Rio Tinto") have agreed to amend the comprehensive funding arrangement to, among other things, provide interim debt funding from Rio Tinto to address the Company's near-term estimated funding requirements and to extend the date by which Turquoise Hill is required to raise additional equity capital.

On March 14, 2022, Rio Tinto announced a non-binding proposal to acquire the approximately 49% of the outstanding shares of Turquoise Hill held by the Company's minority shareholders for cash consideration of C$34.00 per share (the "Proposal"). In response to the Proposal, the Board of Directors of the Company formed a special committee of independent directors (the "Special Committee") to review and consider the Proposal. The mandate of the Special Committee includes responsibility for considering the Company's liquidity needs and financing options pending the Company's consideration of the Proposal.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Trailbreaker Resources Ltd

Trailbreaker Resources Acquires the Eagle Lake Property in South-Central BC, Adjacent to Woodjam Copper

Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Eagle Lake property in south-central BC (British Columbia). The property was acquired through a combination of staking and a sale agreement with Teck Resources Limited (“Teck”) on their Takomkane property.

Eagle Lake Location Map (See high resolution version)

Highlights of the new Eagle Lake property

Keep reading...Show less

Copper Pathway to 2030 Webinar Hosted by RFC Ambrian and Stonegate Capital Partners

Copper is one of the key commodities that will enable the global energy transition to move the world to a zero-carbon future.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • Copper is one of the key commodities that will enable the global energy transition to move the world to a zero-carbon future
  • Copper industry faces a range of challenges over the coming decade to meet anticipated demand
  • Copper Pathway to 2030 is bringing together four of the leading industry players who will be providing solutions

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7294/124539_final%20logo%20051622_550.jpg

Click image above to view full announcement.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×