Five Major Structural Trends, Radioactivity & Alteration Identified by Drilling at Forum Uranium's Clearwater Project, Patter...
April 17 2014 - 6:30AM
Marketwired
Five Major Structural Trends, Radioactivity and Alteration
Identified by Drilling at Forum Uranium's Clearwater Project,
Patterson Lake South Area
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 17, 2014) -
Forum Uranium Corp.'s (TSX-VENTURE:FDC) winter drill program on its
100% owned Clearwater Property has successfully identified five
major structural trends with reactivated graphitic shear zones,
alteration, and areas of localized radioactivity. These positive
results warrant leaving the camp and drill on site to expedite the
planning of a follow-up summer program with minimal start-up
costs.
Regional exploratory drilling of gravity and electromagnetic
targets intersected brecciated graphite/pyrite in reactivated
faults on all electromagnetic conductor targets (Figure 1). Two
drill holes (CW-07 and CW-08) returned a mix of strong
chloritization, variable bleaching and localized secondary
hematite, indicating oxidized fluids (Figure 2). Two holes, CW-05
(Mongo target) on the interpreted south-west extension of the
Patterson Lake structure and CW-09 on the eastern "arm" returned
elevated radioactivity. The Mongo hole returned minor graphite,
brittle/ductile breccia zones and a local radioactive peak of
300cps. Numerous targets along the 3km long Mongo trend remain.
Hole CW-09 intersected strongly altered and corroded, weakly
graphitic pelitic gneiss with locally elevated radioactivity of up
to 300cps. Further drilling in both these areas has been
recommended by Forum's technical team.
Ken Wheatley, Vice President of Exploration commented, "Forum is
pleased with its initial drill program on this project. The
combination of sub-vertical reactivated graphitic shear zones,
intense alteration in the upper sections of the holes and the
occasional occurrence of secondary hematite is indicative of the
type of environment for transporting uranium bearing fluids.
Clearwater is a large and untested property strategically located
along strike from the PLS deposits, and this first pass limited
drill program has provided valuable geological insight. We still
have plenty of targets to drill along these structural corridors on
the northern claim, and have yet to begin drilling the southern
claims with their conductive trends, airborne radiometric anomalies
and high uranium values in the lake sediments."
Forum completed nine holes totaling 2,310 metres on nine
separate, widely spaced targets, including a number of gravity
lows, radon anomalies and EM conductors both on strike and running
parallel to Fission Uranium's Patterson Lake South trend.
Analytical results are expected in early June. The drill program
terminated early due to spring break-up, and planned drilling of a
second hole on Mongo Lake was deferred due to poor ice
conditions.
Forum will continue to prioritize the numerous conductive trends
on the project and identify new targets from further evaluation of
the results of this program. Most of the area is accessible all
year round.
To view Figures 1 and 2, visit the following link:
http://media3.marketwire.com/docs/940346_F1-2.pdf.
Ken Wheatley, P.Geo. (Saskatchewan/Nunavut), Forum's Vice
President, Exploration is the Qualified Person that has reviewed
and approved the contents of this news release.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a
focus on the acquisition, exploration and development of Canadian
uranium projects. Forum has assembled a highly experienced team of
exploration professionals with a track record of mine discoveries
for unconformity-style uranium deposits in Canada. The Company has
a strategy to discover near surface uranium deposits in the
Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by
exploring on its 100% owned properties and through strategic
partnerships and joint ventures.
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.
Forum Uranium Corp.Rick MazurPresident &
CEO604-638-3943Forum Uranium Corp.Matt TerrissDirector, Corporate
Affairs604-638-3947www.forumuranium.comCHF Investor RelationsRobin
CookSenior Account Manager416-868-1079 x 228robin@chfir.com
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