Vancouver, B.C., July 18, 2016 - FDC: TSX-V- Forum Uranium Corp. (“Forum”) is pleased to announce that it has commenced a shallow, four-hole drill program for approximately 600 metres on its 100% owned Karpinka project, located approximately 30 km southwest of Cameco’s Key Lake uranium mine and mill site (Figure 1).
The Karpinka claims lie just outside the southern edge of the Athabasca Basin where high grade, basement hosted deposits such as Fission Uranium Corp.’s Triple R deposit can be found at shallow depths. Infrastructure in the Karpinka area is excellent with targets located adjacent to the all-weather road and powerline to the Key Lake uranium process facility.
The drill targets are based on data from existing ground gravity, ground electromagnetic (EM), magnetic and soil gas hydrocarbon surveys conducted by Forum over the last five years. An airborne EM survey (TEMPEST) flown in 2007 identified a sequence of strongly conductive horizons over a 10 kilometre trend associated with the Key Lake Road Shear Zone, a major structure that marks the boundary of the fertile and productive Wollaston domain and the Mudjatik domain to the west.
Positive gravity survey results from these earlier programs identified a number of gravity lows, which may be indicative of zones of alteration, clay development and uranium mineralization along very strong EM conductors on the property. The combination of gravity low anomalies in conjunction with EM anomalies has proven to be a very successful exploration technique on Forum’s Northwest Athabasca Joint Venture and in the discovery of the Arrow deposit by NexGen Energy Ltd.
Ken Wheatley, P.Geo. , Forum’s Vice-President is the Qualified Person that has reviewed and approved the contents of this news release.
Figure 1: Location of the Karpinka project in relation to the EM conductors (red lines), the Key Lake deposits (yellow dots and ellipses), and the background is from airborne magnetics (blues are magnetic lows, reds are magnetic highs).
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan by exploring on its 100% owned properties and through strategic partnerships and joint ventures with Cameco, AREVA, Rio Tinto, NexGen and Uracan.
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, President & CEO
Matt Terriss, Director, Corporate Affairs