Forum Energy Metals Corp. [FMC-TSXV; FDCFF-OTCQB; F3E-FSE] reported geochemical results from its winter diamond drill program (eight holes for 2,062 metres) on its 100%-owned Wollaston uranium project, located 10 km southeast of Camecoâ€™s Rabbit Lake mill and 30 km southeast of Orano/Denisonâ€™s McClean Lake mill in the Athabasca basin of northern Saskatchewan.
Highlights include anomalous radioactivity in four holes with up to 0.21% uranium and associated nickel in an area of intense alteration, bleaching and secondary hematite at the Gizmo target. Boron (an indicator of proximal uranium bearing fluids) returned up to 2,200 parts per million. Nickel, copper and cobalt locally elevated (up to 365 ppm, 114 ppm and 318 ppm, respectively) within the alteration zone at Gizmo.
Ken Wheatley, vice-president, exploration, commented: â€œWe are quite pleased to see the combination of the extreme alteration and elevated geochemistry at the Gizmo gravity target. Drill hole WO-02 has the strongest uranium mineralization and the depth of the alteration is increasing to the south. The EM conductor also lies to the west and north of this fence, so further drilling will investigate these areas. This is a great start for our first drill program on this project that has rapidly become one of our premium projects.”
Four out five holes intersected extreme alteration on the Gizmo gravity target, returning anomalous geochemistry indicative of a uranium mineralizing event. Anomalous uranium and geochemical pathfinder elements.
Drill hole Drill holeWO-01 returned 11 metres of 1,555 ppm boron from 79 to 90 metres depth. WO-02 returned 10 centimetres of 2,120 ppm uranium and 365 ppm nickel from 163.45 to 163.55 metres depth. WO-03 returned 6.5 metres of 94 ppm uranium and 287 ppm boron from 101.6 to 105.4 metres depth. WO-04: 0.5 metre of 143 ppm uranium from 111.5 to 112 metres depth and 5.5 metres of 190 ppm uranium from 136.3 to 141.8 metres depth.
Further drilling is strongly recommended on the Gizmo target, both to the south because of the increasing alteration, and to the west and north where the historic electromagnetic (EM) conductor lies. An airborne EM survey is planned to cover the entire project this summer to upgrade the historic EM data in detail, accuracy and consistency. Further ground gravity surveys are recommended in areas of conductor complexity identified by the airborne survey.
Forum Energy Metals is a diversified energy metal company with uranium, copper, nickel and cobalt projects in Saskatchewan, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho cobalt belt.