Forum Energy Metals drills 0.4% U3O8 over 12.8 metres at Thelon basin, Nunavut
Forum Energy Metals Corp. [TSXV-FMC; OTCQB-FDCFF] released assay results extending uranium mineralization for 200 metres to the southwest on the Tatiggaq zone at its Thelon basin uranium project located 100 km west of the hamlet of Baker Lake, Nunavut.
Forum holds a 100% interest in 95,500 hectares of ground adjacent to Orano’s 133 million pound Kiggavik uranium project. Forum has received assay results from a second drill hole on the Tatiggaq zone, located five kilometres west of Orano’s 93 million pound Andrew Lake and End uranium deposits.
TAT23-003 intersected high-grade uranium mineralization in a 200-metre step-out from TAT23-001/002.
TAT23-003 (West Zone) intersects 0.40% U3O8 over 12.8 metres (136.0 – 148.8 m), including 1.10% U3O8 over 0.8 metres (136.0 – 136.8 m), including 1.08% U3O8 over 1.3 metres (143.8 – 145.1 m)
The entire mineralized zone is 0.28% U3O8 over 24.6 metres (129.5 – 154.1 m) in what is interpreted as multiple uranium lenses within a wide fault zone.
Dr. Rebecca Hunter, VP, Exploration, stated, “Forum’s latest Tatiggaq drill result 200 metres southwest of our first hole of the program shows the significant strike length and uranium mineralization potential of the Tatiggaq deposit. The main takeaway from this hole is the widths and grades intersected at the West zone demonstrate continuity along strike. The mineralization is open along strike to both the southwest and northeast towards Tatiggaq Main. Our drilling continues to demonstrate that the Tatiggaq area could host a major basement-hosted unconformity deposit.”
TAT23-003 was designed to target the Tatiggaq West zone to infill and extend the mineralization identified from the widely spaced historical drill holes. This hole confirmed the presence of steep-dipping, high-grade sub-parallel uranium lenses present over 200 metres along trend of the Tatiggaq Main mineralization. The full intercept has a significant thickness of 24.6 metres. This single test hole requires additional drilling to the northwest and southeast to fully determine the full extent of the uranium mineralization.
TAT23-003 (West Zone) intersected 0.40% U3O8 over 12.8 metres (136.0 – 148.8 m), including 1.10% U3O8 over 0.8 metres (136.0 – 136.8 m), and 1.08% U3O8 over 1.3 metres (143.8 – 145.1 m)
Uranium mineralization is present along steep-dipping fracture and breccia zones in distinct high-grade lenses and is hosted within alternating reduced gray sulphide-altered zones and oxidized hematite-altered zones.
Mineralization within the Tatiggaq deposit consists of two zones – the Main and West Zones and is located at depths between 80 and 180 metres. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50-metre wide area. Individual high-grade mineralized structures are up to 10 metres in width. The strike extent of the Main Zone is at least 60 metres but is open to the northeast and the West Zone is now 150 metres in strike length and is open to the southwest. Further delineation is required between the two zones to determine if they are connected. In addition, the entire 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly remains open for additional uranium mineralization both along strike of the known zones but also along numerous sub-parallel fault zones to the north and south of the main Tatiggaq trend. Table 1 and Table 2 show the drill and assay data respectively.
Forum Energy holds interests in 76,421 hectares in the Athabasca Basin, Saskatchewan and 95,519 hectares in the Thelon Basin, Nunavut, a geologic analogue to the Athabasca for high grade, unconformity-related uranium deposits. In addition, Forum holds a strategic portfolio of energy metal projects – copper, nickel, PGM, zinc and cobalt in Saskatchewan and Idaho.