Forum Energy Metals Update on Rio Tinto's Plans for Exploration at the Janice Lake Copper Project, Saskatchewan
Vancouver, June 18, 2019 - Forum Energy Metals Corp. (TSXV: FMC) is pleased to announce that Rio Tinto Exploration Canada Inc. ("RTEC") plans to commence drilling and an airborne geophysical survey in July on Forum's Janice Lake sedimentary copper project in Saskatchewan, as part of its $3 million commitment to exploration under the option to joint venture agreement announced May 9, 2019.
A comprehensive compilation of all exploration data has been completed, exploration permit applications have been submitted to the Government of Saskatchewan and helicopter/drill contracts have been signed. A helicopter-borne, high-resolution magnetometer survey should commence in early July. The low level survey will be flown on 100 metre line spacings over the entire 5km width and 52km length of the property to define other targets for drilling. Two drills will be mobilized to the property in July for a planned 20-30 hole drill program totalling up to 7,000 metres.
Initial drill targets continue to be defined with several high priority areas identified:
- Jansem - one of four holes drilled by Forum intersected 18.5 metres (true thickness of 18 metres) grading 0.94% copper and 6.7 g/t silver including 5.2 metres grading 2.22% copper and 16.5 g/t silver.
- Janice- Noranda drill hole PL-93-11 intersected 33 metres grading 0.77% copper.
- Kaz - Noranda drill hole PL-93-05 intersected 15.1 metres grading 0.32% copper.
- Genie- Forum reports 0.76% Cu across 10m of channel sampling.
Rick Mazur, Forum's President & CEO stated, "The compilation work done to date by Rio Tinto has been exceptional and a lot of thought has been put into defining targets for this initial phase of drilling. We look forward to the first drill results this summer."
About the Janice Lake Sedimentary Copper/Silver Project, Saskatchewan
- Limited historical drilling by Noranda and Phelps Dodge intersected copper mineralization for 6 km on the Janice Trend (see Figure 1);
- In September 2018, Forum completed a highly successful first pass drill program in the Jansem area. All 4 drill holes intersected shallow chalcocite, bornite and native copper mineralization above 80m in depth, including Hole FEM-01, which intersected 18.5 m (59.0 to 77.5m downhole depth) grading 0.94% Cu and 6.7 g/t Ag including 5.2 metres grading 2.22% Cu and 16.5 g/t Ag; the true thickness of the mineralization is 18.0m. This grade is a recalculation of the values reported in a news release dated October 10, 2018. The revised drill intersection has been calculated using a 0 ppm value for 1.3 metres of missing core from 69.7 to 71m, in the middle of the mineralized zone.
- Logging of the drill core and petrographic studies suggest that mineralization is hosted by mafic-rich stratigraphy within more felsic units, opening the possibility for multiple layers of copper mineralization.
- In addition, a second mineralized trend, named the Genie Trend, parallels the Janice Trend. It appears to be a repeated section by faulting of the prospective stratigraphy, significantly expanding the potential for further copper mineralization;
- The full extent of the 52 km trend of the Wollaston Copper belt acquired by recent staking remains to be explored. (see Figure 1)
Ken Wheatley, P.Geo. and Forum's VP, Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) explores for Energy Metals Corp., including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada's Number One mining province and cobalt in Idaho and Oregon. Forum is well positioned for when the uranium market rebounds with interests in 7 drill ready projects in the Athabasca Basin, all assembled by a highly experienced team of exploration professionals with a track record of uranium mine discoveries in Canada. For further information: www.forumenergymetals.com
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.
For further information contact:
NORTH AMERICA
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 778-772-3100
Ken Wheatley, P.Geo., VP Exploration
wheats@forumenergymetals.com
Tel: 250-507-1818
Craig Christy, VP Corporate Development
cchristy@forumenergymetals.com
Tel: 250-863-0561
UNITED KINGDOM
Burns Singh Tennent-Bhohi, Director
burnsstb@forumenergymetals.com
Tel: 074-0316-3185
Figure 1: Claims held under Option by Rio Tinto Ltd., including the newly staked southern extension of the Wollaston Copperbelt.
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https://orders.newsfilecorp.com/files/4908/45661_1cd53a91d413bb4b_003full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45661
