Vancouver, B.C., August 14, 2018 - Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce that it has commenced a diamond drill program on its Janice Lake sedimentary copper project located in northern Saskatchewan’s Wollaston Copperbelt.
Richard Mazur, President & CEO commented, “The Wollaston Copperbelt is perhaps the most underexplored and under-appreciated Proterozoic sedimentary copper occurrence in the world. Forum considers this a tremendous opportunity to discover a near surface Canadian copper deposit of exceptional size and grade to supply the growing demand for copper needed for renewable energy infrastructure and electric vehicles.”
A helicopter-supported diamond drill program totaling ~600 metres in 4 drill holes will target the JS-2 area of historical drilling completed by Phelps Dodge to confirm and extend the known strike of the copper mineralization. Some intercepts from Phelps Dodge 2003 drill program are:
|DRILLHOLE||DRILL INTERCEPT||HIGH GRADE INTERVAL||DEPTH|
|Phelps Dodge||JL-03-38||20.8 metres @ 0.72% Cu||incl. 1.3% Cu and 5.5g/t Ag over 5.8m||41metres|
|Phelps Dodge||JL-03-41||19.0 metres @ 0.49% Cu||Incl. 0.91% Cu and 3.2 g/t Ag over 6.0m||42metres|
Also planned for this summer are prospecting, mapping and sampling of outcrops along lesser explored portions of the known 30 km long copper mineralized trend in areas exposed by recent forest fires. A portable XRF machine will be used to help identify the predominantly chalcocite mineralized trend in the field which has traditionally been hard to distinguish visually.
Janice Lake Exploration History
Janice Lake, which comprises 18 mining claims totaling 19,289 hectares (Figure 1), is located in an area described by the Saskatchewan Geological Survey as “the most significant concentration of sediment-hosted copper showings yet known in the Wollaston Domain.”1
In 1993, 20 of 35 holes totaling 5,500m drilled by Noranda intersected near surface chalcocite copper mineralization. In 2003, Phelps Dodge reprocessed the magnetic and induced polarization (IP) geophysical data and completed 6 diamond drill holes to target mineralization under cover. By targeting modelled IP/Resistivity anomalies, Phelps Dodge discovered new copper mineralization with two drill holes 100m apart 2 kilometers to the south of the JS showing. Forum has spent the last few months reprocessing and reinterpreting this historical data to better target zones of mineralization within open pit limits.
The Janice Lake copper occurrences are classed as sedimentary copper type similar to the Central African Copperbelt in Zambia and the DRC, the Revett Belt in Montana and is closely comparable in age and geological setting to the Udokan copper deposit in Russia. Udokan is one of the supergiants with a measured, indicated and inferred resource of 2.754 billion tonnes grading 0.97% copper and 11.9 g/t silver for a contained resource of 54 billion pounds of copper and 196 million ounces of silver (Source: Baikal Mining Company, JORC Compliant Reserve and Resource Summary published 2013).
Forum has prioritized exploration of its Janice Lake Sedimentary Copper Project whereby Forum can earn a 100% interest under option from Transition Metals Corp. (see press releases dated February 6th and 15th).
Figure 1: Janice Lake Sedimentary Copper Project Location in the Wollaston Copperbelt
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) explores for energy metals, most notably copper and uranium in Saskatchewan, Canada’s Number 1 mining province, and is evaluating other energy metals opportunities in North America. In addition, 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 mine discoveries for unconformity-style uranium deposits 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
1 Geological Setting of Sediment-hosted Copper Mineralization in the Janice Lake Area, Wollaston Domain by G. Delaney et al., 1995