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Grease River

 


Ownership

Forum (100%);

Traction Uranium Corp. Option to Earn 100%. Traction can earn an initial 51% interest by paying Forum $250,000, issuing 1,625,000 common shares of Traction and spending $3 million in exploration by December 31, 2025. Forum will be operator until Traction completes this first phase. For complete details please refer to the Forum’s press release dated Feburary 7, 2023.

Stage: Early Stage Exploration
Size: 10,528 ha. in two separate claim blocks. Acquired by staking in 2020.
Location &
Infrastructure

The Grease River Property is located on the northeast edge of the Athabasca Basin to the northwest of Forum’s Fir Island exploration project currently under option to Orano Canada. The property is situated along the northeast trending Grease River shear zone, south of Lake Athabasca near the Fond du Lac uranium deposit.

Regional
Significance
Forum’s claims are located near Traction’s Hearty Bay project, recently optioned from F3 Uranium Corp. Limited exploration has been conducted in the area, which is prospective for uranium mineralization along the Grease River shear zone.
Proximity to
significant
deposits

The Fond du Lac uranium deposit was discovered by Eldorado Nuclear and Camok in 1970. The deposit is characterized by a train of mineralized glacial erratics, which led to the initial near-surface discovery within the Athabasca sandstone, primarily above the unconformity. At that time a uranium resource totaling 990,000 lbs. at an average grade of 0.25% U3O8 was completed (Not NI 43-101 Compliant). Source:  Saskatchewan Mineral Deposits Index, Property # 1572. The historical resource cited here is for informational purposes only. It has not been verified by a Qualified Person as defined by NI 43-101.


2023 Exploration Programs

  •  In May, airborne magnetic, electromagnetic (EM), and radiometric surveys using a New Resolution Geophysics specially designed Xciteâ„¢ Time Domain  Electromagnetic System commenced over the entire 10,528 Ha Grease River property (100m line spacing).
  • Forum is the operator until Traction has earned an initial 51% interest. Traction can earn a 51% interest by paying Forum $250,000, issuing 1,625,000 Traction common shares and funding $3 million in exploration to December 31, 2025. 

Forum’s Grease River Claims. The Fond du Lac uranium deposit is located between the two claim blocks


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