August 20, 2024 6:30 AM EDT | Source: Forum Energy Metals Corp.
In Vancouver, British Columbia–(Newsfile Corp. – August 20, 2024), Forum Energy Metals Corp. (“Forum” or the “Company”) is pleased to announce significant developments at its 100% owned Aberdeen Uranium Project. The drilling activities at the Aberdeen project have resulted in the discovery of uranium mineralization, revealing prolific structural and lithological controls, as well as intense alteration at the Main and West deposits situated along the Tatiggaq Fault. Recent visits by Directors to the Aberdeen project and the Kiggavik Core Storage Facility alongside Forum’s Geological Advisor confirmed that the uranium mineralization processes on Forum’s property mirror those at the Kiggavik uranium deposits. To date, seventeen holes have been drilled, totaling 4,307 meters along the Tatiggaq Fault within the 1.5km by 0.7km Tatiggaq anomaly. A total of 685 samples have been sent to SRC Laboratories in Saskatoon, Saskatchewan for analysis, with results expected by the end of September.
Richard Mazur, the President & CEO of Forum Energy Metals Corp., expressed gratitude to Orano for granting access to their drill core storage facility at the 133 million pound Kiggavik deposit. The Company has now progressed into Phase Two of its drill program, with a focus on exploring other high-priority targets on the property for basement-hosted and sandstone-covered unconformity targets. The Company’s 30-person drill camp and crew have been delivering strong performance over the summer, and drilling operations are anticipated to continue for another four to six weeks.
Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Marketing Agreement
At the request of the TSX Venture Exchange (the “TSXV”), Forum Energy Metals Corp. disclosed an advisory agreement with DS Market Solutions Inc. for liquidity services in compliance with TSXV Policy 3.4. The Agreement is structured on a month-by-month basis and entails remuneration of $5,000 per month, plus applicable taxes. The remuneration is sourced from the Company’s working capital, and DS Market Solutions has affirmed that it employs its own funds and securities in providing the Services. The advisory agreement aims to enhance market depth and increase liquidity of the Company’s common shares.
The images attached provide further insights into the geological analogues and the ongoing exploration activities at the Aberdeen Uranium Project. Forum Energy Metals Corp. remains dedicated to the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.
This press release contains forward-looking statements, and actual results may differ from those anticipated due to various inherent risks and uncertainties. The Company remains committed to conducting exploration activities and adhering to regulatory requirements to advance its projects.
Richard J. Mazur, P.Geo., President & CEO of Forum Energy Metals Corp., expressed the Company’s dedication to its exploration initiatives.
To access the source version of this press release, please visit https://www.newsfilecorp.com/release/220526
