Vancouver, B.C., October 10, 2018 - Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce results from its recently completed four-hole diamond drill program on its Janice Lake sedimentary copper project located in northern Saskatchewan’s Wollaston Copperbelt. All four holes encountered copper mineralization within 80 m of surface with Hole FEM-01 intersecting 19 m grading 1.00 % Copper including 5.7 m of 2.18 % Copper within a 50.5 m interval grading 0.45 % Copper. A summary of assay results are shown below in Table 1. Drill hole locations and a cross section are shown in Figures 1 and 2.
TABLE 1: Assay Results from the 2018 Diamond Drill Program
Drill hole Number
Rick Mazur, President & CEO of Forum Energy Metals commented, “This limited drill program has not only successfully confirmed the presence of high-grade copper at Janice Lake, more importantly, the continuity of copper mineralization has been demonstrated along strike and at shallow depths. With district scale copper mineralization observed over 10km, Janice Lake exhibits enormous potential to build on this early success. Forum is planning follow-up drilling this winter to test other high priority targets.”
Drill Program Summary
A total of 447 metres of drilling were completed with copper mineralization being intersected at shallow depths in all 4 holes as chalcocite and native copper, with lesser malachite and azurite. A correlation of copper and silver values has been observed, and further silver assays are pending.
Copper mineralization began at bedrock surface in hole FEM-04 and FEM-01. Foliation was observed to be 70 degrees to the core axis and true thickness is estimated to be close to the drill thickness (+/- 10%). FEM-01 was located between historic Phelps Dodge holes JL03-38 and JL03-41, which are located 100 m apart, and was drilled at an angle of -70° to the southeast. FEM-02 was located 170 m to the northeast of FEM-01 and also drilled at -70° to the southeast. FEM-03 was located 30 m to the southeast of FEM-01 to test the up-dip potential of the mineralization, and was drilled at -65° to the southeast. FEM-04 was located 200 m northeast of historic Noranda hole PL93-10 and approximately 200 m west of FEM-01 and drilled at an angle of -70° to the southeast. Forum is extremely pleased with the results and plans further drilling in the near future.
Figure 1: 2018 Drill Hole Location Map, JL1 Showing area. Copper has also been intersected in historical drilling at the Jansem 1, JL3 and Jansem 2 showings.
Figure 2: Cross-Section of DDH FEM-01 and 03. The gold area is the interpreted copper mineralization dipping to the northwest at 40 degrees (approx.).
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.
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) explores for energy metals, most notably copper in Saskatchewan, Canada’s Number One mining province, and cobalt in Idaho and Oregon. 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