Forum Energy Metals and Global Uranium Announce the commencement of camp construction and planned geophysical surveys at the Northwest Athabasca Project, Saskatchewan
Forum Energy Metals (FDCFF) and Global Uranium have announced the start of camp construction at the Northwest Athabasca Project in Saskatchewan. The companies plan to conduct Time Domain Electromagnetic (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) surveys at the Spring Bay target in March 2025.
A 20-person camp will be established on the west side of Maurice Bay, with materials being transported via fixed-wing aircraft and ice road from Uranium City. The Spring Bay target features a 4 km long gravity low anomaly with historical drill holes showing elevated uranium and clay alteration.
The Northwest Athabasca Project spans 13,876 ha across 11 contiguous mineral claims and includes the Maurice Bay Showing, which contains a historical resource estimate of 1.5 million lbs at 0.6% U3O8. Global Uranium has an option to earn 51% interest in Forum's stake by spending up to $9M over four years, with Forum serving as the project operator.
Forum Energy Metals (FDCFF) e Global Uranium hanno annunciato l'inizio della costruzione del campo nel progetto Northwest Athabasca in Saskatchewan. Le aziende pianificano di condurre rilevamenti di Elettromagnetismo a Dominio di Tempo (TDEM) e Resistenza a Corrente Diretta e Polarizzazione Indotta (DCIP) presso l'obiettivo Spring Bay nel marzo 2025.
Un campo da 20 persone sarà stabilito sul lato ovest di Maurice Bay, con materiali trasportati tramite aeromobili ad ala fissa e strade ghiacciate da Uranium City. L'obiettivo Spring Bay presenta un'anomalia di gravità bassa lunga 4 km, con fori di perforazione storici che mostrano elevati livelli di uranio e alterazione dell'argilla.
Il progetto Northwest Athabasca si estende per 13.876 ettari su 11 diritti minerari contigui e include il Maurice Bay Showing, che contiene una stima delle risorse storiche di 1,5 milioni di libbre a 0,6% di U3O8. Global Uranium ha la possibilità di guadagnare un interesse del 51% nella quota di Forum spendendo fino a 9 milioni di dollari in quattro anni, con Forum che funge da operatore del progetto.
Forum Energy Metals (FDCFF) y Global Uranium han anunciado el inicio de la construcción del campamento en el proyecto Northwest Athabasca en Saskatchewan. Las empresas planean realizar encuestas de Electromagnetismo en Dominio de Tiempo (TDEM) y Resistencia de Corriente Directa y Polarización Inducida (DCIP) en el objetivo de Spring Bay en marzo de 2025.
Se establecerá un campamento para 20 personas en el lado oeste de Maurice Bay, con materiales transportados por avión de ala fija y caminos de hielo desde Uranium City. El objetivo de Spring Bay presenta una anomalía de baja gravedad de 4 km de largo, con pozos de perforación históricos que muestran niveles elevados de uranio y alteraciones de arcilla.
El proyecto Northwest Athabasca abarca 13,876 hectáreas en 11 concesiones minerales contiguas e incluye el Maurice Bay Showing, que contiene una estimación de recursos históricos de 1.5 millones de libras a 0.6% de U3O8. Global Uranium tiene la opción de obtener un interés del 51% en la participación de Forum gastando hasta 9 millones de dólares en cuatro años, siendo Forum el operador del proyecto.
포럼 에너지 메탈 (FDCFF)와 글로벌 우라늄이 서스캐처원의 노스웨스트 아타바스카 프로젝트에 캠프 건설을 시작한다고 발표했습니다. 두 회사는 2025년 3월 스프링 베이 타겟에서 시간 영역 전자기(TDEM) 및 직류 저항 및 유도 분극(DCIP) 조사를 실시할 계획입니다.
20인 캠프가 모리스를 베이의 서쪽에 설치되며, 물자는 고정익 항공기와 우라늄 시티에서 얼음 도로를 통해 운송됩니다. 스프링 베이 타겟은 4km 길이의 중력 저하 이상 현상이 있으며, 역사적인 시추 구멍에서 높은 우라늄 및 점토 변화가 나타납니다.
노스웨스트 아타바스카 프로젝트는 11개의 인접한 광물 청구권에 걸쳐 13,876헥타르에 이르며, 역사적 자원 추정치가 0.6% U3O8로 150만 파운드인 모리스를 베이 쇼잉을 포함합니다. 글로벌 우라늄은 포럼의 지분에 대해 4년 동안 최대 900만 달러를 지출함으로써 51%의 지분을 획득할 옵션이 있으며, 포럼이 프로젝트 운영자로 활동합니다.
Forum Energy Metals (FDCFF) et Global Uranium ont annoncé le début de la construction d'un camp sur le projet Northwest Athabasca en Saskatchewan. Les entreprises prévoient de réaliser des sondages en électromagnétisme temporel (TDEM) et en résistivité à courant direct et polarisation induite (DCIP) sur la cible de Spring Bay en mars 2025.
Un camp de 20 personnes sera établi sur le côté ouest de Maurice Bay, avec des matériaux transportés par avion à voilure fixe et par des routes glacées depuis Uranium City. La cible de Spring Bay présente une anomalie gravitaire basse de 4 km de long, avec des forages historiques montrant des teneurs élevées en uranium et des altérations de l'argile.
Le projet Northwest Athabasca s'étend sur 13 876 ha à travers 11 concessions minières contiguës et comprend le Maurice Bay Showing, qui contient une estimation historique des ressources de 1,5 million de livres à 0,6 % d'U3O8. Global Uranium a la possibilité d'acquérir un intérêt de 51 % dans la participation de Forum en dépensant jusqu'à 9 millions de dollars sur quatre ans, avec Forum jouant le rôle d'opérateur du projet.
Forum Energy Metals (FDCFF) und Global Uranium haben den Beginn des Campbaus im Northwest Athabasca Projekt in Saskatchewan angekündigt. Die Unternehmen planen, im März 2025 am Spring Bay Ziel Zeitbereichs-Elektromagnetik (TDEM) und Direkte Stromwiderstands- und Induzierte Polarisation (DCIP) Untersuchungen durchzuführen.
Ein 20-Personen-Camp wird an der Westseite der Maurice Bay eingerichtet, Materialien werden mit Starrflügelflugzeugen und Eisstraßen aus Uranium City transportiert. Das Spring Bay Ziel weist eine 4 km lange Gravitätsniedrigst-Anomalie auf, wobei historische Bohrlöcher erhöhte Urangehalt und Tonveränderungen zeigen.
Das Northwest Athabasca Projekt erstreckt sich über 13.876 ha auf 11 zusammenhängenden Mineralansprüchen und umfasst das Maurice Bay Showing, das eine historische Ressourcenschätzung von 1,5 Millionen Pfund bei 0,6% U3O8 enthält. Global Uranium hat die Option, 51% Interesse an Forums Anteil zu erlangen, indem es bis zu 9 Millionen Dollar über vier Jahre ausgibt, wobei Forum als Projektbetreiber fungiert.
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A combined ground EM and Resistivity survey will begin in early March on the Spring Bay target
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (the "Company" or "Forum") and Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) ("Global") are pleased to announce that camp construction on the Northwest Athabasca Project has been initiated. In addition, plans are underway to conduct a Time Domain Electromagnetic Survey (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) Survey on its Spring Bay target located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figures 1, 2). Geophysical work is expected to commence in March. Global has an option to earn
"The integration of historical geophysical datasets and legacy drill results gives us an advantage in identifying areas of high potential," stated Ungad Chadda, CEO of Global Uranium. "We are pleased that the Forum exploration team's knowledge and experience in Saskatchewan unconformity-style uranium deposits will shape the refined targeting strategy at the NWA Project, positioning us to unlock the site's full value potential."
Rick Mazur, CEO of Forum Energy Metals stated, "Forum is excited to be building a camp and working again on the Northwest Athabasca Project. Refinement of the drill targeting is key to success and the TDEM and DCIP surveys will improve drill target precision of the prospective Spring Bay area."
Camp Construction and Winter Geophysical Surveys
A 20-person camp is planned on the west side of Maurice Bay on the Northwest Athabasca Project (Figure 2). The camp materials will be mobilized to site via a combination of fixed-wing aircraft on skis as well as by ice road from Uranium City. Currently camp and drilling equipment and materials are being shipped and staged in Fond du Lac and Uranium City.
The Spring Bay target hosts a 4 km long, strong gravity low anomaly, which is coincident with historical drill holes that have intersected elevated uranium and anomalous clay alteration. To refine drill targeting, new ground electromagnetic and resistivity surveys are proposed. A small moving loop TDEM survey is planned to help refine and understand the orientation and strength of the conductors in the area. A larger DCIP survey is planned to provide resistivity and chargeability data over the Spring Bay target, which will help identify clay alteration systems at depth. Both the TDEM and DCIP surveys will be used to refine targeting within the large Spring Bay gravity low anomaly.
The Northwest Athabasca Project
The Northwest Athabasca Project is located along the northwest shore of Lake Athabasca on the margin of the Athabasca Basin 1,000 km north-northwest of Saskatoon. The western margin of the property is situated along the Alberta - Saskatchewan provincial border and the closest community is Uranium City, which is 75 km east of the project. The project consists of 11 contiguous mineral claims covering 13,876 ha. The project hosts the Maurice Bay Showing, which contains a non-43-101 historical resource estimate documented at 1.5 million lbs at
1Lehnert-Thiel, K., and Kretschmar, W., 1979, The discovery of the Maurice Bay uranium deposit and exploration case history (abs.): Canadian Institute of Mining and Metallurgy District 4, Fourth Annual Meeting, Winnipeg, 1979, unpublished manuscript, 3 p.
2The historical resource estimate, however, was not prepared in accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). While the Company believes the historical estimate to be relevant given the extensive exploration work completed by Uranerz, a qualified person has not completed sufficient work to verify and classify the historical estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource. As such, the historical estimate should not be relied upon.
Qualified Person
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.
Quality Assurance and Quality Control
For a discussion of the QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled "NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24'00" N, Longitude 109°54'00" W", with an effective date of June 27, 2024, which is available under the Global Uranium's profile at www.sedarplus.ca.
Investor Relations Agreement
FMC is also pleased to announce that it has entered into an advertising/e-marketing contract with 1001103323 Ontario Inc. to provide marketing services, including social media engagement through X (formerly Twitter), Facebook, YouTube and Reddit. The initial term of the agreement is 90 days, starting on February 11, 2025, and may be renewed with mutual written agreement. During the initial term, 1001103323 Ontario Inc. will be paid an upfront fee of CAD
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
About Global Uranium Corp.
Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp./NexGen Energy Ltd./Cameco Corporation/Orano Canada Inc. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.
Figure 1 Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta - Saskatchewan Border.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/240364_3d8197e9148ee9c1_003full.jpg
Figure 2 The Spring Bay Target area and the camp location. The proposed location of the TDEM and DCIP surveys are shown and the background is the residual gravity.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/240364_3d8197e9148ee9c1_004full.jpg
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:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240364
FAQ
What geophysical surveys will be conducted at the Northwest Athabasca Project FDCFF in March 2025?
How large is the gravity anomaly at the Spring Bay target for FDCFF?
What is the size of the Northwest Athabasca Project owned by FDCFF?
What is the historical resource estimate at the Maurice Bay Showing for FDCFF?
What are the terms of Global Uranium's option agreement with FDCFF for the Northwest Athabasca Project?
