Vancouver, B.C., August 1, 2017 - FDC: TSX-V- Forum Uranium Corp. (“Forum” or the “Company”) announces a 15.4 line kilometer, horizontal loop electromagnetic (HLEM) survey has commenced on its 100% owned Fir Island project, located along the north rim of the Athabasca Basin in northern Saskatchewan. The survey is being conducted over the East Channel, a 50km long structure marked by a magnetic and gravity low on the east side of a magnetic high that bends into the Snowbird Tectonic Zone, a crustal scale feature on the west side of the project (See Figure 2). Drilling completed by Forum in 2015 on the north end of the East Channel structure identified an area with a 50 metre vertical offset in the unconformity (sandstone/basement contact) with anomalous uranium and boron (dravite) in a conductive zone at a depth of 160 metres to the basement. This zone continues into the area being tested by this summer’s geophysical survey.
The HLEM ground survey will consist of 11 lines of horizontal loop electromagnetics, which will search for conductive material along the East Channel contact. The information collected, in combination with data from the gravity and soil surveys already completed on this project, will determine targets for a future drill program. The survey should take one month to complete with results being available in September. Line-cutting will be completed by the Black Lake First Nation and geophysics by Patterson Geophysics Inc., based in La Ronge, Saskatchewan
Ken Wheatley, P.Geo. , Forum’s Vice-President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based mineral exploration company focusing 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 Exploration, NexGen and Uracan.
Figure 1: Location and Geology Map of the Fir Island Project. An all-weather road is present within 3km of the property and connects with the McClean Lake and Rabbit Lake uranium mills.
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
Craig Christy, Vice President, Corporate Development
Figure 2: Fir Island Project with Magnetic Background. The red to pink is the mag high, the blues are mag lows. Known EM conductors are shown as white lines. The East Channel lies on the southeast side of a very strong mag high, probably an Archean granite. The EM lines are shown as thin black lines within the area marked as the East Channel.