• TSX-V: FMC

Janice Lake Sedimentary Copper Project

Ownership:Option to acquire 100% from Transition Metals Corp
Stage:Highly prospective with over 20 copper occurrences. Drill results by Noranda in 1993 include 0.77% Cu over 33.0 m including 1.6% Cu over 6 m, within 35 m of surface. In 2003, Phelps Dodge completed 6 diamond drill holes applying geophysical methods to target mineralization under cover which resulted in the discovery of a new zone which returned values including 0.72% Cu over 26.0 m including 1.33% Cu over 5.83 m (JL-03-38). Grab samples collected by Transition Metals have returned values ranging from 0.34 to 9.35% copper and 0.7 to 61.7 g/t silver, confirming previous reports of high-grade mineralization at surface, and highlighting the potential for the discovery of multiple near-surface, sediment-hosted copper deposits.
Size:17,600 Ha (176 sq. km)
Location &
Infrastructure
Located in north-central Saskatchewan within the Wollaston Domain, a northeasterly-trending belt of metamorphosed lower Proterozoic supracrustal rocks deposited upon Archean granitoid basement  A major power transmission corridor runs to the northeast of Janice Lake
Regional
Significance
The Janice Lake area contains significant concentrations of sediment-hosted copper showings. Located 55 km southeast of the Key Lake uranium processing facility in close proximity to several of Forum’s core uranium exploration properties, enabling this project to be effectively integrated into Forum’s operations.
Significant Comparable DepositsThe age and depositional environment at Janice are similar to the giant Udokan Deposits of the Lake Baikal region in Siberia, and the Revette deposits of Montana USA. Baikal Mining Company LTD reports JORC compliant Measured and Indicated resources of 1.822 billion tonnes grading 1.01% copper, 14.3 grams per tonne silver for the Udokan deposits. (Baikal Mining Company Ltd. press release presenting published estimate prepared by SRK Consulting, dated April 9, 2014). Hecla Mining reports 43-101 compliant Inferred resources of 112 million tonnes grading 0.7% copper, 1.6 oz/t silver for its Montanore deposit and 97.6 million tonnes grading 0.7% copper and 1.5 oz/t silver for its Rock Creek deposit in Montana. (Hecla Mining Company: published reserves and resources statement, December 31, 2016).

Outlook:

  • The high-grade chalcocite mineralization previously discovered at Janice Lake from limited drilling by former owners Noranda and Phelps Dodge, remains open in all directions, and has the potential for significant high-grade near surface copper.
  • The following video link further demonstrates the exploration potential  at Janice Lake and compares the geological setting with similar significant known deposits. https://www.youtube.com/watch?v=RLDNeIPlQQc

Work Programs for 2018

  • All four holes completed during summer first pass drill program encountered copper mineralization within 80 m of surface .Hole FEM-01 intersected 19 m grading 1.00 % Copper including 5.7 m of 2.18 % Copper within a 50.5 m interval grading 0.45 % Copper. Assay results are shown below:

Assay Results from the 2018 Summer Diamond Drill Program

Drill Hole #

From (m)

To (m)

Length1(m)

Copper (%)

Silver (g/t)

Lead (%)

Zinc (%)

FEM-01

 

 

 

 

 

 

 

Total

27.0

77.5

50.5

0.45

3.6

 

 

including

58.5

77.5

19.0

1.00

6.5

 

 

and

65.0

69.7

5.7

2.18

17.0

 

 

and

65.5

67.5

2.0

3.79

28.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FEM-02 2

 

 

 

 

 

 

 

Total

38.5

53.5

15.0

0.48

4.3

0.40

0.50

including

38.5

50.0

11.5

0.27

2.5

0.49

0.62

and

42.5

48.0

5.5

0.15

1.8

0.46

1.02

and

45.0

50.0

5.0

0.39

4.3

1.09

0.62

and

47.5

53.5

6.0

0.97

8.9

0.73

0.17

 

 

 

 

 

 

 

 

FEM-03

 

 

 

 

 

 

 

Total

22.0

28.0

6.0

0.25

0.8

 

 

Total

38.0

52.5

14.5

0.31

1.7

 

 

including

42.5

52.5

10.0

0.41

2.3

 

 

and

43.5

47.0

4.5

0.64

3.2

 

 

 

 

 

 

 

 

 

 

FEM-04

 

 

 

 

 

 

 

Total

11.3

47.5

36.2

0.21

0.8

 

 

including

19.5

24.5

5.0

0.56

1.0

 

 

 

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.

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.

Cross-Section of DDH FEM-01 and 03.  The gold area is the interpreted copper mineralization dipping to the northwest at 40 degrees (approx.).

FEM 01
FEM 01

FEM 01 closeup
FEM 01 closeup

FEM 01 at 64.5M
FEM 01 at 64.5M


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