|Ownership:||Forum 65%; Privco 35%|
|Stage:||Highly Prospective; Drill Ready|
|Regional infrastructure to the properties is good with nearby year-round road access (Highway 914 to Key Lake is 5km away), readily available power nearby, and close proximity to Cameco’s Key Lake uranium processing facility.|
|This project covers the southwestern extension of the graphitic conductive unit that hosts the Key Lake deposits.|
|Cameco’s former producing Key Lake mine, which extracted over 200 million pounds of uranium by open pit methods at an average grade of 2.3% U3O8 from 1983 to 1997, is located nearby to the north of the Costigan property.|
- Exploration focus is on discovering basement-hosted type uranium deposits similar to Millennium, Eagle Point, Sue C, Triple R, Roughrider, and Arrow, which can extend down to 900m below the unconformity.
Proposed Work Programs for 2017
- No work is proposed for 2017. EM and gravity have been completed over the entire project and the claims are in a drill ready state. The project is in good standing until 2029.
- In late 1970’s to early 1980’s the property was covered radiometric prospecting, lake sediment sampling, EM surveys and drilling: the northern part of the property has been drilled by 23 holes (3055m.). The conductors to the south were not drill-tested. Uranium mineralization (0.088% U3O8 over 4.02 m with 0.42% U3O8 over 0.36 m) and (0.068% U3O8 over 2.52 m) was intersected.
- Forum acquired the property in 2006 and completed a horizontal loop EM survey and 6 drill holes for 824m. Weak mineralization was encountered along the C3 conductor between line 7200N and line 8400N.
- Forum drilled two holes, COS-07 and COS-08 (347m) in 2007 at the south end of the property. Graphite and weak alteration were intersected in these holes. A ground gravity survey then covered the entire property in 2010 and the project once again lies in a drill ready state.
Maps & Figures
Figure 2: General Geology, DDH Locations and EM Conductors on the Costigan Project. Dots are the DDH locations. Orange is the magnetic Archean Key Lake Anti-form, white is pelitic gneisses. The solid blue lines are the EM conductors.