Vancouver, B.C., February 10, 2020 - Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce that it has received positive assay results from the summer sampling program completed at its 100% owned Love Lake project in northern Saskatchewan. A total of 45 samples from the Love Lake Mafic-Ultramafic Complex within the Peter Lake Domain were taken over an eight kilometre length of the Rabbit Lake Road which transects the property. Ten grab samples were taken from the What Lake trench where historic sampling returned values as high as 4275 ppb Palladium, 3580 ppb Platinum and 200 ppb Gold, along with 0.43% Copper and 0.23% Nickel from a grab sample.
Five of ten grab samples taken by Forum over a 100 metre by 200 metre area in the vicinity of the What Lake Trench returned:
- 134 ppb to 442 ppb Palladium
- 108 ppb to 331 ppb Platinum
- 20 ppb to 144 ppb Gold
- Results for Rhodium pending
- 47 ppm to 60ppm Scandium
- 0.06% to 0.37% Copper
- 0.01% to 0.04% Nickel
Mapping has confirmed the layered and brecciated nature of this gabbro intrusive with many phases exhibiting visible sulphides. Analysis of the minor element geochemistry and whole rock analysis are currently underway to determine the magmatic model for copper/nickel and PGM mineralization within the Love Lake Complex.
The Peter Lake Domain is the largest mafic/ultramafic complex in North America second only to the Midcontinent Rift in Minnesota and Ontario, host to numerous magmatic nickel/copper and platinum/palladium deposits. Peter Lake has been overlooked and remains entirely underexplored. Figure 1 illustrates the potential for the Love Lake Complex to host economic deposits similar to:
- Reef-style platinum/palladium (Bushveld, Stillwater)
- Structurally controlled palladium (Lac des Iles), and
- Magmatic nickel/copper deposits (Voisey’s Bay)
Forum will undertake a completely new approach to exploration of the area under the direction of Dr. Larry Hulbert. A high-resolution airborne magnetic survey is planned for this spring, followed by extensive summer mapping and sampling field work to identify targets for drilling later this year.
Dr. Larry Hulbert, Forum’s Geological Advisor for the Love Lake Project and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Quality Control/ Quality Assurance
Samples were collected in the field by Forum’s Vice President, Exploration, Ken Wheatley and consultant Jim Atkinson and were personally delivered to TSL Geoanalytical Laboratory in Saskatoon for assaying. All samples including blanks, duplicates and certified reference standards where analysed for 41 elements by ICP-MS following a multi-acid digestion. Platinum Group Element assays were conducted on 30 gram samples followed by lead fire assay and ICP-MS analyses. Currently major (whole rock) element analyses are being conducted on the same samples for detailed petrochemical investigations.
The Company also announces that, in accordance with the Company’s stock option plan, it has granted to certain of its directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 400,000 common shares exercisable on or before February 10, 2025 at a price of $0.10 per share.
About Forum Energy Metals
Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
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, P.Geo., President & CEO
Craig Christy, VP Corporate Development
Burns Singh Tennent-Bhohi, Director