Forum Uranium Corp.
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 by exploring on its 100% owned properties and through strategic partnerships and joint ventures with Cameco, AREVA, Rio Tinto Exploration, NexGen and Uracan.
Five Well Located, Near Surface Projects in the Athabasca Basin, Saskatchewan:
(1) Fir Island Project
The Fir Island project is located along the north rim of the Athabasca Basin, northern Saskatchewan, located 200 kilometres by road to the Areva/Denison McLean uranium processing facility.
On November 22, 2016, Forum announced positive results from its summer 2016 gravity and till sampling programs.
(2) Key Lake Area Projects
Forum's Key Lake Road projects are located south of Cameco's Key Lake deposits, and are underlain by rocks that host all the known uranium deposits in the eastern Athabasca Basin. Most of the projects also host a major shear zone (the Key Lake Road Shear Zone) and/or associated cross-cutting structures. The projects consist of 18 claims in a variety of properties: Key Lake Road, Highrock and Highrock South, Karpinka, Costigan (65% Forum) and Orchid.
Key Lake Mine Area: Highrock and Karpinka
Positive geochemical results returned from initial drilling on Forum's 100% owned Highrock Project. Holes HR-06, 07, and 08 intersected zones of strong tectonization, elevated geochemistry, and alteration. Targets on the Highrock property are interpreted to be the same unit that hosts the Key Lake uranium mine located 15 km to the north.
Forum's summer 2016 drill program on its 100% owned Karpinka project returned very encouraging results. Of highlight was hole KAR-01 returned values of up to 87ppm uranium and 163ppm nickel.
Further drilling is recommended on a number of other shallow targets (combination of gravity and EM) on this underexplored project.
(3) Maurice Point (100% Forum) & Northwest Athabasca Joint Venture (Forum 39.25%; NexGen 28.25% Cameco 20%; AREVA 12.5%)
(A Fertile Property with Shallow Uranium Targets)
The 100%-owned Maurice Point Project consists of sixteen mineral claims, covering 33,777 ha along the margin of the Athabasca Basin. The property is located immediately adjacent to the 10,161 ha Northwest Athabasca (NWA) Joint Venture, which hosts the Maurice Bay deposit and numerous uranium showings on the northwest margin of the Athabasca Basin.
Ground gravity has defined 18 targets on NWA, 8 on Maurice Point – five drilled; four have intersected uranium.
Some drill intercepts:
(4) Henday Project
The Henday Project covers 7,204 hectares at the north-eastern side of the Athabasca Basin, Saskatchewan. The property is strategically located north-east of Rio Tinto's Roughrider uranium deposit.
Rio Tinto has flown a comprehensive airborne EM and mag survey over the project. In winter 2016, RTX completed a 15 hole, 5,340.3 metre drill program on three target areas (Hollow Lake, Elephant and Epitaph) on the Henday Property. Of highlight was hole 16HDY007 at Hollow Lake which intersected anomalous uranium mineralization.
In October 2016, RTX commenced a resistivity survey on the Henday property. RTX is compiling the resistivity data in 2017.
(5) Clearwater Project
The Clearwater Project covers a total of 9,912 hectares adjoining Fission Uranium's Patterson Lake South claims to the southwest, on strike with the Triple R and Arrow deposits. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator.
Forum and Uracan have completed two drill campaigns and have identified numerous drill targets with strong alteration and geochemistry; further drilling planned.
Management and Directors
Richard J. Mazur, P.Geo, MBA, President, CEO & Director
Mr. Mazur is a geoscientist and businessman with more than 35 years international mining experience as a project geologist, financial analyst and senior executive on uranium, gold, base metals, diamonds and other minerals. Through his former Canadian uranium exploration experience, Mr. Mazur acquired Forum's initial Canadian uranium properties in 2004.
Anthony Balme, Non Executive Chairman and Director
Mr. Balme is an international Mining Financial Specialist. Mr. Balme is the Managing Director of Carter Capital Ltd. and A.M.C. Limited.
David Cowan, LLB, Director
Larry Okada, CA, Director
Michael A. Steeves, CFA, Director
Dr. Howard Haugom, Ph.D, Director
On January 16, 2017, Forum Uranium Corp. announced that it has closed the final tranche of its private placement previously announced on Dec. 15, 2016, and Jan. 5, 2017.
Forum raised a total of $1,695,040 in this round of financing, including an $800,000 strategic investment by the Shanghai-based private equity firm Holystone Energy Company Ltd.