Forum Reports Drill Results of 1.34% U3O8 Over 3 Metres From Shallow Depths at
Zone A, Northwest Athabasca JV
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/09/13 -- Forum
Uranium Corp. (TSX VENTURE:FDC) and joint venture partner NexGen
Energy Ltd. are pleased to announce drill results from the "off
scale" mineralization at Zone A and the Barney zone targets on the
Northwest Athabasca project. Results from the 30 metre intercept of
uranium mineralization at Otis West are still pending.
-- Zone A- 3 metres of 1.34% U3O8, including 2.48% U3O8 over 0.5 metres at
a depth of 90 metres.
-- Zone A- Mineralization associated with a 1km long NW trending fault.
-- Barney- 2.32% U3O8 over 0.5 metres.
Zone A lies on the north side of the Maurice Bay deposit(i)
(historical resource of 1.5 million pounds of uranium grading 0.6%
U3O8) and is hosted mainly within basement rocks along a major NW
trending fault (Figure 1). The mineralization within NWA-65 and
NWA-66 appears to be associated with this fault which has a strike
length of at least 1 kilometre.
Table 1: Significant assay results from the Zone A Drill holes.
Hole Number From To Width(ii) Grade
(Metres) (Metres) (Metres) (% U3O8)
NWA-65 80.5 83.5 3.0 0.14%
NWA-66 88.5 91.5 3.0 1.34%
includes 90.0 91.5 1.5 1.86%
includes 91.0 91.5 0.5 2.48%
(ii) Downhole width
Previous drill holes on Zone A completed in 1978 (MAU-543 and
MAU-545) intersected 6m of 5.65% U3O8 from 113 to 119m and 3m of
1.08% U3O8 from 113 to 116m respectively, giving the high-grade
portion of the mineralized zone an interpreted vertical extent of at
least 30.5 metres. Further exploration along the strike of this
structure is strongly recommended.
Five holes were drilled on the Barney target to
follow up on
mineralization encountered in four holes in Barney North and to
further test the gravity low on Barney South. Drill hole NWA-53
intersected 0.5m of 2.32% U3O8 from 169 to 169.5m in a graphitic
shear. Follow-up drilling is recommended for up-dip extensions and on
strike to the east.
Maurice Bay Deposit(i)
A 1.5 million pound historical uranium resource grading 0.6% U3O8 for
the Maurice Bay deposit, as reported by Saskatchewan Industry and
Resources, Miscellaneous Report 2003-7 has not been calculated or
classified under the specifications of National Instrument 43-101 and
should not be relied upon.
To view Figure 1: Gravity with Drill Targets on the NW Athabasca
Project. Black dots are previous holes, yellow stars are holes
drilled in 2013 by Forum. Lines are EM conductors. Gravity lows are
depicted as blue colours, please click on the following link:
To view Figure 2: Zone A Cross Section. Grid is 20x20m, uranium
intercepts are in red. Please click on the following link:
Quality Assurance and Quality Control
Core samples are collected and shipped in sealed containers to the
Saskatchewan Research Council, an ISO/IEC 17025:2005 (CAN-P-4E)
certified laboratory for geochemical analysis using the Uranium ICP
Package. This package is the preferred analytical technique for
detecting uranium and pathfinder elements in the alteration halos of
unconformity-type uranium deposits in the Athabasca Basin. Ken
Wheatley, P.Geo. (Saskatchewan, NWT/Nunavut), Forum's Vice President,
Exploration is the Qualified Person that has reviewed and approved
the contents of this news release.
NW Athabasca Joint Venture
The NW Athabasca project is a joint venture held 60% jointly by Forum
and NexGen Energy Ltd. Forum is Operator of the joint venture with
27.5% partner Cameco Corporation and 12.5% partner AREVA Resources
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
ON BEHALF OF THE BOARD
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.
President & CEO
Forum Uranium Corp.
Director, Corporate Affairs
CHF Investor Relations
Senior Account Manager
416-868-1079 x 228
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