Global Uranium and Forum Energy Metals Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan
Global Uranium Corp (GURFF) and Forum Energy Metals have completed data compilation and reprocessing of historical electromagnetic surveys for their upcoming drill program at the Northwest Athabasca Project in Saskatchewan. The project, located along Lake Athabasca's northwest shore, covers 13,876 ha across 11 mineral claims.
The companies plan diamond drilling and geophysical surveys for winter 2025, pending community engagement and government approvals. The main targets include Andy, Zone 2A, Opie, Gomer, and Spring Bay areas. The project contains the Maurice Bay uranium showing, with a historical resource estimate of 1.5 million lbs at 0.6% U3O8 (non-43-101 compliant).
Significant historical drilling results include Zone 2A area with 5.69% over 8.5m and Opie showing 0.14% U3O8 over 7.6m. Forum Energy Metals is working with Convolutions Geoscience to reprocess historical HLEM and VTEM data from 2005-2006 to optimize drill targeting.
Global Uranium Corp (GURFF) e Forum Energy Metals hanno completato la compilazione e la rielaborazione dei dati delle storiche indagini elettromagnetiche per il loro imminente programma di perforazione presso il Northwest Athabasca Project in Saskatchewan. Il progetto, situato lungo la sponda nord-ovest del Lago Athabasca, copre 13.876 ettari su 11 diritti minerari.
Le aziende pianificano perforazioni con diamante e indagini geofisiche per l'inverno 2025, in attesa dell'engagement della comunità e delle approvazioni governative. I principali obiettivi includono le aree Andy, Zone 2A, Opie, Gomer e Spring Bay. Il progetto comprende il giacimento di uranio Maurice Bay, con una stima storica delle risorse di 1,5 milioni di libbre a 0,6% U3O8 (non conforme agli standard 43-101).
I risultati significativi delle perforazioni storiche includono l'area Zone 2A con il 5,69% su 8,5 m e il giacimento di Opie con 0,14% U3O8 su 7,6 m. Forum Energy Metals sta collaborando con Convolutions Geoscience per rielaborare i dati storici HLEM e VTEM dal 2005-2006 per ottimizzare la pianificazione delle perforazioni.
Global Uranium Corp (GURFF) y Forum Energy Metals han completado la compilación y reprocesamiento de datos de encuestas electromagnéticas históricas para su próximo programa de perforación en el Northwest Athabasca Project en Saskatchewan. El proyecto, ubicado a lo largo de la costa noroeste del Lago Athabasca, abarca 13,876 ha en 11 derechos mineros.
Las empresas planean realizar perforaciones diamantinas y encuestas geofísicas para el invierno de 2025, a la espera de la participación comunitaria y aprobaciones gubernamentales. Los principales objetivos incluyen las áreas de Andy, Zone 2A, Opie, Gomer y Spring Bay. El proyecto contiene la exhibición de uranio Maurice Bay, con una estimación histórica de recursos de 1.5 millones de libras a 0.6% U3O8 (no conforme con 43-101).
Los resultados significativos de perforaciones históricas incluyen el área Zone 2A con 5.69% en 8.5 m y la exhibición de Opie con 0.14% U3O8 en 7.6 m. Forum Energy Metals está trabajando con Convolutions Geoscience para reprocesar datos históricos HLEM y VTEM de 2005-2006 para optimizar la selección de perforaciones.
글로벌 우라늄 주식회사 (GURFF)와 포럼 에너지 메탈스가 사스캐처원에 있는 노스웨스트 아싸바스카 프로젝트의 다가오는 시추 프로그램을 위한 역사적인 전자기 조사 데이터의 수집 및 재처리를 완료했습니다. 이 프로젝트는 아싸바스카 호수의 북서쪽 해안에 위치하며, 11개의 광물 채굴권 전역에 걸쳐 13,876 헥타르를 포함합니다.
기업들은 커뮤니티 참여 및 정부 승인을 기다리며 2025년 겨울에 다이아몬드 시추 및 지구 물리학 조사를 계획하고 있습니다. 주요 목표는 Andy, Zone 2A, Opie, Gomer 및 Spring Bay 지역을 포함합니다. 이 프로젝트는 1.5백만 파운드의 역사적 자원 추정치가 0.6% U3O8(비-43-101 준수)로 있는 모리스 베이 우라늄의 출처를 포함합니다.
주요 역사적인 시추 결과로는 Zone 2A 지역이 8.5m에서 5.69%를 기록하였으며, Opie 지역이 7.6m에서 0.14% U3O8를 기록했습니다. Forum Energy Metals는 Convolutions Geoscience와 협력하여 2005-2006년의 과거 HLEM 및 VTEM 데이터를 재처리하여 시추 타겟팅을 최적화하고 있습니다.
Global Uranium Corp (GURFF) et Forum Energy Metals ont terminé la compilation et le reprocessing des données des études électromagnétiques historiques pour leur prochain programme de forage au Northwest Athabasca Project dans la Saskatchewan. Le projet, situé le long de la rive nord-ouest du lac Athabasca, couvre 13 876 ha sur 11 revendications minières.
Les entreprises prévoient des forages diamantins et des études géophysiques pour l'hiver 2025, sous réserve de l'engagement communautaire et d'approbations gouvernementales. Les principales cibles comprennent les zones Andy, Zone 2A, Opie, Gomer et Spring Bay. Le projet comprend la manifestation d'uranium de Maurice Bay, avec une estimation historique des ressources de 1,5 million de livres à 0,6 % U3O8 (non conforme à la norme 43-101).
Les résultats de forage historiques significatifs incluent la zone 2A avec 5,69 % sur 8,5 m et la manifestation d'Opie avec 0,14 % U3O8 sur 7,6 m. Forum Energy Metals travaille avec Convolutions Geoscience pour reprocher les données historiques HLEM et VTEM de 2005-2006 afin d'optimiser le ciblage de forage.
Global Uranium Corp (GURFF) und Forum Energy Metals haben die Datenzusammenstellung und -aufbereitung historischer elektromagnetischer Untersuchungen für ihr bevorstehendes Bohrprogramm im Northwest Athabasca Project in Saskatchewan abgeschlossen. Das Projekt, das sich am nordwestlichen Ufer des Athabasca-Sees befindet, erstreckt sich über 13.876 Hektar und umfasst 11 mineralische Ansprüche.
Die Unternehmen planen Diamantbohrungen und geophysikalische Untersuchungen für den Winter 2025, vorbehaltlich der Einbeziehung der Gemeinschaft und behördlicher Genehmigungen. Die Hauptziele umfassen die Bereiche Andy, Zone 2A, Opie, Gomer und Spring Bay. Das Projekt enthält das Uranvorkommen Maurice Bay, dessen historische Ressourcenschätzung bei 1,5 Millionen Pfund bei 0,6 % U3O8 (nicht konform mit 43-101) liegt.
Bedeutende historische Bohrergebnisse umfassen die Zone 2A mit 5,69 % über 8,5 m und das Vorkommen Opie mit 0,14 % U3O8 über 7,6 m. Forum Energy Metals arbeitet mit Convolutions Geoscience zusammen, um historische HLEM- und VTEM-Daten aus den Jahren 2005-2006 neu zu verarbeiten und das Bohrzieling zu optimieren.
- Historical drilling revealed high-grade uranium mineralization (5.69% over 8.5m at Zone 2A)
- Historical resource estimate of 1.5M lbs at 0.6% U3O8 at Maurice Bay showing
- Multiple uranium showings identified across the property
- Advanced targeting through reprocessed geophysical data
- Historical resource estimate not 43-101 compliant
- Drilling program still pending community engagement and government approvals
Reprocessing of historical electromagnetic data has added greater targeting certainty and will help augment a planned winter 2025 drill program on the Northwest Athabasca Project in Saskatchewan’s Athabasca Basin
CALGARY, Alberta, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company”) and Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (“Forum”) are pleased to announce the completion of data compilation and reprocessing of historical electromagnetic (EM) geophysical surveys to optimize the upcoming drill program on the Northwest Athabasca (NWA) Project, located on the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). Diamond drilling and geophysical surveys are planned this winter, pending the completion of ongoing community engagement and final government approvals. Forum Energy Metals is the Operator of the Northwest Athabasca Project.
“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’s logistics team is working with local services and contractors to implement the drill program this winter. We are excited to get back to drilling on the project again with Global as our earn-in partner. This is a prolific part of the Athabasca Basin and our last drill campaign in 2013 intersected significant uranium mineralization.”
2025 Data Compilation and Drill Targeting
The Northwest Athabasca Project has undergone exploration since the 1970s so there is an enormous database of geological work that has been completed historically (ground sampling, geophysical surveys and diamond drilling). Forum has been compiling all the historical data into its database including Forum’s past exploration from 2010 to 2014.
The main targets planned for drilling in 2025 include the Andy, Zone 2A, Opie, Gomer and Spring Bay areas (Figure 2). Drill targets are selected using a combination of following up known uranium showings, ground and airborne EM conductors, magnetic signatures and gravity anomalies. The Maurice Bay uranium showing, which is within the Northwest Athabasca Project is associated with east-southeast-trending faults with significant normal fault displacement.
Forum Energy Metals is working with Convolutions Geoscience based out of Vancouver, British Columbia to investigate and reprocess the historical ground HLEM (Horizontal Loop Electromagnetic) and airborne VTEM (Versatile Time Domain Electromagnetic) data that were originally collected by Cameco Corporation in 2005 and 2006. In the Griffith’s Creek area (Andy, Zone 2A, Opie target areas), several HLEM and VTEM conductors were identified. Convolutions Geoscience has re-analyzed the historical data and provided recommendations on the orientation and strength of the conductors to help augment the targeting of the potential conductive zones (Figure 3).
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 west of the project. The project consists of 11 continuous mineral claims covering 13,876 ha. Exploration began on the Northwest Athabasca Project in the 1970s after the discovery of uraniferous boulders of Athabasca Group sandstone near Fiddler Point. Diamond drilling at the inferred apex of one of the boulder fans led to the discovery of unconformity uranium mineralization near Maurice Bay in 1976 by Uranerz Exploration and Mining Ltd. A non-43-101 historical resource estimate was 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.
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.
Figure 2 The main uranium showings and drill target areas on the Northwest Athabasca Project. The residual gravity and EM conductors are shown as the background.
Figure 3 Close-up of the Griffith’s Creek Trend, which hosts the Andy, Zone 2A and Opie grids. The residual gravity is the background and the historical drill collars are shown. The reprocessed Maxwell Plates are the solid lines and were generated from the historical HLEM data and will be used to aid in drill targeting.
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.
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. and NexGen Energy Ltd. 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.
About Forum Energy Metals
Forum Energy Metals Corp. (TSX.V: 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.
On Behalf of The Management Team
Ungad Chadda
CEO
587-330-0045
info@globaluranium.com
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the intention to continue exploration efforts on the Project with the aim of further unlocking the Project’s potential; and the expectation that natural attenuation will allow the site to recover without further action.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca.
The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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Photos accompanying this announcement are available at
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FAQ
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