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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is pleased to announce an update on the drill program at its 100% owned Love Lake Nickel-Copper-PGM project located approximately 60 km northeast of Forum's Janice LakeRio Tinto copper joint venture in north-eastern Saskatchewan along Highway 905 to the Rabbit Lake McClean Lake uranium mills (Figure 1).
Samples have been sent to the Saskatchewan Research Council from three holes drilled at Korvin Lake and What Lake for assay and are expected in mid-October. Forum is on its eleventh and final hole of the drill program on the Korvin Creek target. A summary of the drill program follows:
Korvin Lake - two holes drilled on the electromagnetic target identified by the HeliSAM Time Domain Electromagnetic (EM) airborne survey completed in May 2021.
What Lake - five holes have been drilled on trenches which returned values as high as 0.43% Copper, 0.23% Nickel, 4275 ppb Palladium, 3580 ppb Platinum and 200 ppb Gold and on targets outlined by ground magnetic and electromagnetic surveys.
Korvin Creek - four holes will be completed where two drill holes in 1968 intersected 31.7 metres grading 0.23% copper and 36.6 metres of 0.29% copper, as well as targets outlined by ground magnetic and electromagnetic surveys.
Figure 1: Location of the Love Lake Cu-Ni-PGM Project along Highway 905
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4908/96999_0957a01ea43e1b76_003full.jpg
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.
Director Resignation
Mr. Burns Singh Tennent-Bhohi has announced his resignation from the Board of Directors due to his ongoing commitments to his Publicly Quoted Directorships and his London, UK, private venture capital company, Glenpani, a specialist in transaction origination, corporate restructures/recapitalisations and equity/debt finance. Burns was instrumental in arranging funding for the Company from 2018 to 2020 and remains on Forum's Advisory Board as an advisor on capital markets/strategic corporate planning.
Ken Wheatley, P.Geo., Forum's VP, Exploration and a 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) has three 100% owned energy metal projects being drilled in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic 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/96999
Figure 1: High grade copper mineralisation in tourmaline breccia which contains pXRF grades up to 45.5% copper within the interval 14-16m down hole NY2024-DDH2
Figure 2: NY2024-DDH2 drill core at 14.0-14.2m downhole. The pXRF copper grade over 3 readings averages 23.2%.
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
