Vancouver, B.C., November 5, 2018 - Further to the Company’s press release dated October 10, 2018, Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce that final assays from all four holes intersected both copper and silver mineralization and a new lead/zinc zone within 80 m of surface in the JL-1 target area of the Janice Lake sedimentary copper project located in Saskatchewan’s Wollaston Copperbelt. Highlights are as follows:
- Previously reported intersection of 19.0 m grading 1.0% Cu in Hole FEM-01 also reports 6.5 g/t Ag with the inclusion of a 2.0m interval grading 3.79% Cu and 28 g/t Ag.
- Final assays for Hole FEM-02 identified a 15m zone of lead and zinc mineralization with values of 1.09% Pb and 0.62% Zn within a 5 m intersection grading 0.39% Cu and 4.3 g/t Ag. (see Table 1).
Forum is very encouraged by the results at the JL-1 target, which confirms the potential for discovering a large near surface sedimentary copper deposit at Janice Lake. Drill hole locations and a cross section are shown in Figures 1 and 2.
TABLE 1: Final Assays from JL-1 Target- Janice Lake Sedimentary Copper Project
(Shaded areas show assay results not previously reported)
|Drill Hole #||From (m)||To (m)||Length1 (m)||Copper (%)||Silver (g/t)||Lead (%)||Zinc (%)|
1True thickness is estimated at +/- 10% from core length.
2Assay results for Hole FEM-02 have been revised from those reported in the Company’s press release dated October 10, 2018 to account for the newly discovered lead/zinc zone.
Drilling completed by Phelps Dodge in 2003 on the JL-1 target intersected copper in two holes. Holes JL-03-38 returned 22 m of 0.69% copper including 5.8 m grading 1.33 % copper and 5.5 g/t silver and a lower zone of 8.3 m of 0.52 % copper. JL-03-41 intersected 24 m of 0.42 % copper, including 6 m of 0.91 % copper and 3.2 g/t silver. These results, in addition to Forum’s recent assays, suggest that the mineralization in the JL-1 area is becoming stronger and slightly deeper to the southwest.
Figure 1: 2018 Drill Hole Location Map, JL1 Showing area.
Interpretation and Conclusions
- Chalcocite and native copper mineralization is interpreted to be stratabound striking northeast with a 40° dip to the northwest and a shallow southwest plunge (see Figure 2).
- Two kilometre trend of resistivity anomalies has been identified to the northeast from hole FEM-02 towards historic hole PL-93-11 (33 m grading 0.77 % Cu at a depth of 35m) at the Janice showing (see Figure 1). This possible extension of copper/lead/zinc/silver mineralization along strike bodes well for delineating a potentially large tonnage open pit deposit.
- Mineralization at JL-1 has only been drilled to a depth of 80 metres and remains open at depth. (see Figure 2).
- Previous regional work by Noranda, Phelps Dodge and the Saskatchewan Government, including drill intersections of 8.7 m grading 0.6 % copper at the KAZ showing 5 kilometres to the northeast and 11 m grading 0.9% copper at the Rafuse showing 6 kilometres to the northeast of Forum’s current drilling at JL-1 demonstrates the potential for discovering a very large corridor of near surface copper mineralization.
- Forum has prioritized these target areas and numerous copper showings on the property that have never been drill tested.
Figure 2: Longitudinal Section of drilling in the JL-1 showing area. The orange area is the interpreted copper mineralization using a 0.1% cut-off grade.
Quality Assurance/Quality Control
After retrieval from the drill, the core was collected in a core logging facility where it was collated and marked by the geologist. The core was logged in detail and RQD collected for further evaluation. Core was marked in 0.5m sections (or based on changes in geology) for cutting. After cutting the core was placed in sealed plastic bags which were placed into sealed shipping containers and forwarded to Saskatchewan Research Council (SRC) in Saskatoon for analysis. SRC has a rigid Quality Control/Quality Assurance program. The laboratory also participates in a Certified Inter-laboratory Testing Program (CCRMP/PTP-MAL) for Cu. SRC completed the chemical analyses using Aqua Regia digestion followed by ICP-OES techniques. To compensate for the presence of native copper a Metallic Assay was also performed on all samples.
The laboratory included analysis of standards every 20 samples and duplicates of the sample pulps every 40 samples. Examination of the results indicates that the standards and duplicates resulted in satisfactory results with Relative Percent Differences (RPD) for duplicates and Standard Deviation (SD) for the standards in acceptable ranges. The QP has determined that this level of QA/QC is sufficient for this stage in the exploration program.
Ken Wheatley, P.Geo. and Forum’s VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
About Forum Energy Metals
Forum Energy Metals Corp (TSX.V: FMC) has the option to earn a 100% interest in the Janice Lake property from Transition Metals Corp. The Company explores for energy metals, including copper and uranium in Saskatchewan, Canada’s Number One mining province, in addition to cobalt in Idaho and Oregon. Forum is well positioned for when the uranium market rebounds with interests in 7 drill ready projects in the Athabasca Basin, all assembled by a highly experienced team of exploration professionals with a track record of uranium mine discoveries in Canada.
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, VP Corporate Development