Global Uranium and Forum Energy Metals Announce the Commencement of Drilling and Ground Geophysical Surveys on the Northwest Athabasca Project, Saskatchewan
Global Uranium Corp (GURFF) and Forum Energy Metals have launched diamond drilling operations at the Zone 2A area of the Northwest Athabasca Project in Saskatchewan, Canada. The project, located along Lake Athabasca's northwest shore, includes ground Time Domain Electromagnetic and Direct Current Induced Polarization surveys at the Spring Bay grid.
The exploration program features completed camp construction, with supplies delivered via fixed-wing aircraft and an ice road from Uranium City. Team Drilling began operations on March 19, 2025, focusing on the Andy and Zone 2A trends, with potential expansion to Gomer and Spring Bay targets. SJ Geophysics initiated ground surveys on March 2, with an expected 3-4 week duration.
The project spans 13,876 hectares across 11 contiguous mineral claims. Global Uranium has the option to earn 51% interest in Forum's stake by investing $9M over four years. The companies emphasize ongoing collaboration with local communities and First Nations as a key project focus.
Global Uranium Corp (GURFF) e Forum Energy Metals hanno avviato operazioni di perforazione a diamante nell'area Zone 2A del Northwest Athabasca Project in Saskatchewan, Canada. Il progetto, situato lungo la riva nord-ovest del Lago Athabasca, include sondaggi geofisici a Tempo Dominante Elettromagnetico e Polarizzazione Indotta da Corrente Continua nella griglia di Spring Bay.
Il programma di esplorazione prevede la costruzione del campo completata, con forniture consegnate tramite aerei ad ala fissa e una strada di ghiaccio da Uranium City. Team Drilling ha iniziato le operazioni il 19 marzo 2025, concentrandosi sulle tendenze Andy e Zone 2A, con potenziale espansione verso i target Gomer e Spring Bay. SJ Geophysics ha avviato i sondaggi a terra il 2 marzo, con una durata prevista di 3-4 settimane.
Il progetto si estende su 13.876 ettari attraverso 11 concessioni minerarie contigue. Global Uranium ha l'opzione di guadagnare il 51% di interesse nella partecipazione di Forum investendo 9 milioni di dollari in quattro anni. Le aziende sottolineano la continua collaborazione con le comunità locali e le Prime Nazioni come un obiettivo chiave del progetto.
Global Uranium Corp (GURFF) y Forum Energy Metals han lanzado operaciones de perforación de diamante en el área de la Zona 2A del Northwest Athabasca Project en Saskatchewan, Canadá. El proyecto, ubicado a lo largo de la costa noroeste del Lago Athabasca, incluye encuestas geofísicas de Dominio de Tiempo Electromagnético y Polarización Inducida por Corriente Continua en la cuadrícula de Spring Bay.
El programa de exploración cuenta con la construcción del campamento completada, con suministros entregados a través de aviones de ala fija y una carretera de hielo desde Uranium City. Team Drilling comenzó operaciones el 19 de marzo de 2025, centrándose en las tendencias de Andy y Zona 2A, con una posible expansión hacia los objetivos Gomer y Spring Bay. SJ Geophysics inició encuestas terrestres el 2 de marzo, con una duración esperada de 3 a 4 semanas.
El proyecto abarca 13,876 hectáreas a través de 11 concesiones minerales contiguas. Global Uranium tiene la opción de adquirir un 51% de interés en la participación de Forum invirtiendo 9 millones de dólares en cuatro años. Las empresas enfatizan la colaboración continua con las comunidades locales y las Primeras Naciones como un enfoque clave del proyecto.
Global Uranium Corp (GURFF)와 Forum Energy Metals가 캐나다 사스카추완의 Northwest Athabasca Project의 Zone 2A 지역에서 다이아몬드 시추 작업을 시작했습니다. 이 프로젝트는 아사바카 호수의 북서쪽 해안에 위치하며, Spring Bay 그리드에서 시간 도메인 전자기 및 직류 유도 분극 조사 작업을 포함합니다.
탐사 프로그램은 캠프 건설이 완료되었으며, 물자는 고정익 항공기와 우라늄 시티에서의 얼음 도로를 통해 전달되었습니다. Team Drilling은 2025년 3월 19일에 작업을 시작했으며, Andy와 Zone 2A 트렌드에 집중하고 있으며, Gomer와 Spring Bay 목표로의 확장 가능성이 있습니다. SJ Geophysics는 3월 2일에 지상 조사를 시작했으며, 예상 소요 기간은 3-4주입니다.
이 프로젝트는 11개의 인접한 광물 청구권을 포함하여 13,876헥타르에 걸쳐 있습니다. Global Uranium은 포럼의 지분에 대해 4년 동안 9백만 달러를 투자함으로써 51%의 지분을 획득할 수 있는 옵션을 가지고 있습니다. 두 회사는 프로젝트의 주요 초점으로 지역 사회 및 원주민과의 지속적인 협력을 강조합니다.
Global Uranium Corp (GURFF) et Forum Energy Metals ont lancé des opérations de forage diamant dans la zone 2A du Northwest Athabasca Project en Saskatchewan, Canada. Le projet, situé sur la rive nord-ouest du lac Athabasca, comprend des enquêtes géophysiques à domaine temporel électromagnétique et polarisation induite par courant continu sur la grille de Spring Bay.
Le programme d'exploration comprend la construction du camp achevée, avec des fournitures livrées par avion à voilure fixe et par une route de glace depuis Uranium City. Team Drilling a commencé ses opérations le 19 mars 2025, en se concentrant sur les tendances Andy et Zone 2A, avec un potentiel d'expansion vers les cibles Gomer et Spring Bay. SJ Geophysics a lancé des enquêtes terrestres le 2 mars, avec une durée prévue de 3 à 4 semaines.
Le projet s'étend sur 13 876 hectares à travers 11 concessions minières contiguës. Global Uranium a la possibilité d'acquérir un intérêt de 51 % dans la participation de Forum en investissant 9 millions de dollars sur quatre ans. Les entreprises soulignent la collaboration continue avec les communautés locales et les Premières Nations comme un axe clé du projet.
Global Uranium Corp (GURFF) und Forum Energy Metals haben Bohrungen mit Diamanten im Gebiet Zone 2A des Northwest Athabasca Project in Saskatchewan, Kanada, begonnen. Das Projekt befindet sich an der nordwestlichen Küste des Athabasca-Sees und umfasst geophysikalische Untersuchungen mit Zeitbereichs-Elektromagnetik und durch Gleichstrom induzierter Polarisation im Spring Bay-Gitter.
Das Explorationsprogramm umfasst den Abschluss des Campbaus, wobei die Materialien per Starrflügler und über eine Eisstraße von Uranium City geliefert wurden. Team Drilling nahm am 19. März 2025 seine Tätigkeit auf und konzentriert sich auf die Trends Andy und Zone 2A, mit der Möglichkeit einer Erweiterung auf die Ziele Gomer und Spring Bay. SJ Geophysics begann am 2. März mit den Bodenuntersuchungen, die voraussichtlich 3-4 Wochen dauern werden.
Das Projekt erstreckt sich über 13.876 Hektar und umfasst 11 zusammenhängende Mineralansprüche. Global Uranium hat die Option, durch eine Investition von 9 Millionen Dollar über vier Jahre einen 51%igen Anteil an Forum zu erwerben. Die Unternehmen betonen die fortlaufende Zusammenarbeit mit den lokalen Gemeinschaften und den First Nations als einen zentralen Schwerpunkt des Projekts.
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Diamond drilling has commenced at the Zone 2A area, and SJ Geophysics has initiated ground EM and Resistivity surveys on the Spring Bay area on the Northwest Athabasca Project in Saskatchewan’s Athabasca Basin
CALGARY, Alberta, March 20, 2025 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the "Company" or “Global”) and Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (“Forum”) are pleased to announce that it has commenced its diamond drilling program, as well as ground geophysical surveys on the Northwest Athabasca (NWA) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). Drilling will be focusing on the Zone 2A and Andy grid areas and SJ Geophysics will be conducting ground Time Domain Electromagnetic (TDEM) and Direct Current Induced Polarization (DCIP) surveys over the Spring Bay grid (Figure 2).
Camp construction began in middle February and is now completed. Ongoing work with the local communities and First Nations will continue to be an important focus of the project as we move forward. 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, “I am particularly proud of the Forum logistics team, the Athabasca Denesuline contractors and all contractors that have worked tirelessly for the last month to get a camp built and drill and supplies to site, since the ice road was constructed to Uranium City. Forum’s geological team can now test the exceptional potential of the project.”
Camp Construction, Ground Geophysics and Diamond Drilling
Camp construction is completed and is ready to support the upcoming exploration program. Supplies were brought into site largely by fixed wing aircraft using skis. A temporary ice road from Uranium City has been completed and additional fuel as well as the diamond drill and supplies were hauled to site. The drill program began on March 19 with Team Drilling as Forum’s drill contractor. The objective of the diamond drilling program is to test the Andy and Zone 2A trends and if time and weather allows testing additional high-priority targets at Gomer and Spring Bay (Figure 2). SJ Geophysics began the ground geophysical program at the Spring Bay Grid on March 2 and the survey is projected to take approximately 3-4 weeks.
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 contiguous mineral claims covering 13,876 ha. Global has an option to earn
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.
Qualified Person
Jared Suchan, Ph.D., P.Geo., Global Uranium’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
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 Pro-jects 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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
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 Offering, including the total anticipated proceeds, the expected use of proceeds, and the closing (including the proposed closing date) of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will close the Offering on the timeline anticipated, will raise the anticipated amount of gross proceeds from the Offering and will use the proceeds of the Offering as anticipated. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts 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 the Offering does not close on the timeline expected, or at all; the risk that the Company raises less than the anticipated amount of gross proceeds from the Offering; the risk that the Company does not use the proceeds from the Offering as currently expected; risks inherent in the exploration and development of mineral deposits, 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; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. 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.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
Photos accompanying this announcement are available at:
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FAQ
What is the scope of Global Uranium's (GURFF) drilling program at Northwest Athabasca in 2025?
How much does Global Uranium (GURFF) need to invest to earn 51% interest in the Northwest Athabasca Project?
What is the size and location of the Northwest Athabasca Project where GURFF is drilling?
When did SJ Geophysics begin their ground surveys for GURFF at Northwest Athabasca?
How is Global Uranium (GURFF) managing logistics for the Northwest Athabasca drilling program?
