Matthew Spizziri reports that Forum Uranium Corp. just announced an update to shareholders with a review of Forum corporate activities and exploration plans for 2016, which includes ...
Henday Project (Rio Tinto Canada Uranium 60%/Forum 40%)
Forum renegotiated its Option Agreement on the Henday project with partner Rio Tinto whereby Rio Tinto can earn an additional 10% interest in the joint venture by spending $20 million in exploration of the property. During the past year, Rio Tinto flew a Geotech VTEM magnetic and electromagnetic survey in two directions over the property and completed a compilation of all geological, geophysical, geochemical and drill data in the assessment files, including selective logging and sampling of available drill core. Two high priority areas have been identified for drilling. Rio Tinto is currently mobilizing two drill rigs to the Henday project and plans a major drill program. Forum is carried for the next $20 million in exploration of the property.
Highrock and Highrock South Projects (Forum 100%)
Forum plans a 1,500 meter drill program in 8 to 10 holes on its 100% owned Highrock and Highrock South projects nearby the Cameo Key Lake Uranium Mill. A number of shallow targets with strong coincident electromagnetic and gravity anomalies will be drilled along the target horizon that is interpreted as an extension of the graphitic horizon hosting the 200 million pound Key Lake uranium deposit. Drilling is expected to begin in March.
Fir Island Project (Forum 100%)
In 2015, Forum completed a 10 hole, 2,453 meter drill program on its 100% owned Fir Island project on the Centennial-Black Lake trend, with road access to the McClean Lake and Rabbit Lake Mills. Five drill holes on the East Channel target intersected a reverse fault with a 50 me vertical offset of the unconformity and associated alteration system including dravite and sudoite alteration, quartz dissolution and remobilization and sulphide deposition.
Resource Portal for I2M Clients, Associates, and Geoscientists
Managed & Built by I2M Consulting, LLC | © 2010-
Managed & Built by I2M Consulting, LLC | © 2010-