Base Metals

Forum Energy Metals Corp. is pleased to announce the second round of drill results from Rio Tinto Exploration Canada's Rafuse drill target on Forum's 100% owned Janice Lake coppersilver project in Saskatchewan. RTEC has mobilized crews to open the onsite Burbidge Lake camp and plans to be drilling before the end of June. A detailed plan for follow-up drilling and plans for regional exploration of the 52 kilometre ...

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") is pleased to announce the second round of drill results from Rio Tinto Exploration Canada's (RTEC) Rafuse drill target on Forum's 100% owned Janice Lake coppersilver project in Saskatchewan. RTEC has mobilized crews to open the onsite Burbidge Lake camp and plans to be drilling before the end of June. A detailed plan for follow-up drilling and plans for regional exploration of the 52 kilometre extent of the Janice Lake property will be reported when finalized.

Ken Wheatley, VP, Exploration noted, "Hole 28 intersected 14 metres of high-grade oxide copper that is interpreted as structurally controlled mineralization on the last section drilled to the northeast. This adds another dimension to the potential at Janice. The Rafuse target continues for approximately 800 metres to the northeast and further drilling will be focused on this trend."

Assays from the final five holes of the winter drill program have extended copper mineralization for 670 metres of strike on the Rafuse target:

  • JANL0026 - 0.25% copper and 2.05 g/t silver over 12.3 metres from 39.7m to 52m.
  • JANL0027 - No significant intercept.
  • JANL0028 - 0.89% copper and 8.02 g/t silver over 14 metres from 246m to 260m, including 6m of 1.67% copper and 13.6 g/t silver from 254.1 to 260.1m
  • JANL0029 - 0.23% copper and 2.52 g/t silver over 6 metres from 3m to 9m.
  • JANL0030 - 0.27% copper and 3.08 g/t silver over 39 meters from 172m to 211m.

Drill hole JANL0026 was a down-dip follow-up to historic drill hole RA4-69 that intersected 0.68% copper over 17.1 metres at the top of the hole and was stopped at 61.6 metres in mineralization (see Rio Tinto commences drilling at Forum's Janice Lake Copper/Silver Project, Saskatchewan news release dated February 16, 2021). JANL0026 confirmed the down-dip extension of the mineralization to the northwest.

Holes JANL0028 and 29 are located on a cross-section another 200m northeast of JANL0026 and 27 (Figure 2). These holes are 100m apart and continue to show mineralization having a shallow dip to the northwest. JANL0028 intersected 14 metres of oxide mineralization consisting of chrysocolla and malachite within an interpreted fault zone. It appears that hole JANL0029 intersected only the surface expression of the mineralization and it should continue to dip to the northwest.

Hole JANL0030 is located 270 metres southwest of the JANL0022 to JANL0026 cross section previously reported in a news release (Rio Tinto intersects 1.78% copper and 9.25 g/t silver over 3.1 metres within 48 metre copper zone at Forum's Janice Lake Copper/Silver Project, Saskatchewan dated May 25, 2021). The mineralized interval shows mineral zoning beginning in chalcocite and gradationally transitions downhole into zones with more dominant bornite and then chalcopyrite over 39 metres.

The Rafuse target is one of four targets drilled to date by RTEC, a 2.8 kilometre long priority target of surface copper mineralization. Figure 3 is a table of the results from all nine holes drilled to date on the Rafuse target. Final drilling plans for this summer are being developed by Rio Tinto and will be reported when available.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4908/86988_cf5a848c540ad9d8_003.jpg

Figure 1: Plan Map of the Rafuse Target. Background is from the airborne magnetic survey, with red colours indicating magnetic highs.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/86988_cf5a848c540ad9d8_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4908/86988_cf5a848c540ad9d8_004.jpg

Figure 2: Cross Section JANL-28 and 29 with interpreted geology.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/86988_cf5a848c540ad9d8_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4908/86988_figure3resize.jpg

Figure 3: Assay Results from the 2021 Drill Program.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/86988_figure3.jpg

Quality Control/ Quality Assurance

Core samples were sawed in half, keeping the half with the reference line for orientated core in the box. Samples averaged 2 metres in length through the mineralized zone, 4 metres in length in the unmineralized zone, however these lengths varied depending on stratigraphy, alteration or mineralization. Standards were introduced after every 20th sample, using a high grade, low grade or unmineralized, depending on the surrounding core. Duplicates were also introduced on every 20th sample, quartering the core. Blanks were used for the first sample of the hole and at the beginning and end of a mineralized interval, using certified rose quartz. A 4-acid digestion was used on the samples at ALS lab in Vancouver, followed by analysis by ICP-MS (the ME-MS61L package).

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.

Conference Call Information

Rick Mazur, President & CEO and Ken Wheatley, VP, Exploration will discuss the significance of these drill results on the Rafuse target and Rio Tinto's plans for exploration and drilling this summer.

A question and answer period will follow.

Topic: Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) Janice Lake exploration results update
Time: Jun 9, 2021 01:00 PM Vancouver

Join Zoom Meeting
https://us02web.zoom.us/j/87536197454?pwd=dkRXbkIybXppN0hMVm8zRXMyUWQ5QT09

Meeting ID: 875 3619 7454
Passcode: 154594
One tap mobile
+16699006833,,87536197454#,,,,*154594# US (San Jose)
+19294362866,,87536197454#,,,,*154594# US (New York)

Dial by your location
+1 669 900 6833 US (San Jose)
+1 929 436 2866 US (New York)
+1 312 626 6799 US (Chicago)
+1 346 248 7799 US (Houston)

Meeting ID: 875 3619 7454
Passcode: 154594
Find your local number: https://us02web.zoom.us/u/kdKxSD3mpG

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:

NORTH AMERICA 

Rick Mazur, P.Geo., President & CEO 
mazur@forumenergymetals.com 
Tel: 778-772-3100 

UNITED KINGDOM

Burns Singh Tennent-Bhohi, Director
burnsstb@forumenergymetals.com
Tel: 074-0316-3185

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86988

News Provided by Newsfile via QuoteMedia

Platreef Mine Secures US$200 Million Gold Stream Financing and Additional US$100 Million Palladium and Platinum Stream

Offtake arrangements announced for 100% of Platreef's first phase production

Platreef scheduled to commence production in 2024

Keep reading... Show less
Victory Receives Smokey Lithium Drill Permit

Victory Receives Smokey Lithium Drill Permit

  • Following Extensive Exploration and Analysis Smokey Lithium Exploration Team Set to Begin Drill Program
  • Drill Program will Focus on Relationship to High Li Zone to adjacent Jindalee Property

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is excited to announce that the Company's has received a drill permit to commence drilling on its Smokey Lithium property in Esmeralda County, Nevada

As a result of the extensive exploration work and analysis conducted to date, the Company's exploration team has identified drill targets that will determine whether a relationship exists to the high Li zone on the adjacent Jindalee property. The drill permit was expanded from the original 4 holes to 15 holes based upon further analysis by the Company's Exploration Team which included locations of key targets for drill holes.

Keep reading... Show less
Getchell Gold Corp. Secures Two Drill Rigs for 2022 at the Company's Nevada Projects

Getchell Gold Corp. Secures Two Drill Rigs for 2022 at the Company's Nevada Projects

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to announce the Company has executed a contract to secure two drill rigs for the entirety of 2022 to conduct exploration at the Company's Nevada based projects.

"The discovery of our Colorado SW and North Fork gold zones and the successful follow-up drill results indicate an extensive mineralizing system at the Fondaway Canyon gold project that remains open to depth and along strike. The procurement of a second drill rig will facilitate an accelerated advancement and broader delineation of these discoveries," states Mike Sieb, President, Getchell Gold Corp. "In addition, the second drill rig will enhance our news flow next year and allow for the much-anticipated maiden drill program at the Star high-grade copper-gold-silver project."

Keep reading... Show less
Latin Metals Stakes Three New Copper Exploration Projects, Coastal Copper Belt, Peru

Latin Metals Stakes Three New Copper Exploration Projects, Coastal Copper Belt, Peru

TSXV: LMS) OTCQB: LMSQF) announces that it has acquired a 100% interest in three copper exploration projects totaling 5,000 hectares, located in the Coastal Copper Belt, Peru. The three projects (Loli, Tillo, and Para) (the " Projects ") are located approximately 130km southwest of the Company's Lacsha copper project, where recent exploration has identified extensive copper mineralization at surface and where the Company expects to complete an IP survey in January 2022 ( Figure 1 ).

The Projects were acquired by staking following completion of an extensive regional stream sediment survey, screening approximately 480 km 2 . The areas were selected based on consistent copper anomalies and geological similarities to the Lacsha - Yanba projects area.

Keep reading... Show less
Opawica Announces $2,000,000 Flow Through Placement

Opawica Announces $2,000,000 Flow Through Placement

(TheNewswire)

Opawica Explorations Inc.

TheNewswire - December 7 th 2021 Opawica Explorations Inc. (the "Company") (TSXV:OPW) (OTC:OPWEF) is pleased to announce that it proposes to undertake a private placement to raise gross proceeds of up to $2,000,000 (the "Offering"). The Company proposes to raise up to $2,000,000 through the sale of up to 3,636,363 flow-through units priced at $0.55 (the "FT Units"). Each FT Unit consists of one flow-through common share and one-half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.75 for a term of two years.

Keep reading... Show less
Altiplano Begins Advance to the 352 m Level at Farellon and Completes Ventilation Upgrades

Altiplano Begins Advance to the 352 m Level at Farellon and Completes Ventilation Upgrades

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to provide an update on the underground mining activity at the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile.

Underground work has begun on the Hugo Decline to expand to the next targeted working heading at the 352 m level. The extension will require 60 m to reach the operational level and a further 15 m to reach the iron oxide copper gold vein system. To date, 14 metres have been completed. The decline extension is designed to provide two additional mining access points along the NE and SW drifts and, in the future, provide access to remove the mineralization from the roofs and floors of the 360 m level above (Figure 1). This work is part of the ongoing underground development and sustainability initiatives at Farellon.

Keep reading... Show less

Top News

Related News