Global Uranium and Forum Energy Metals Announce the commencement of camp construction and planned geophysical surveys at the Northwest Athabasca Project, Saskatchewan
Global Uranium Corp (GURFF) and Forum Energy Metals have announced the initiation of camp construction at the Northwest Athabasca Project in Saskatchewan, Canada. The companies plan to conduct Time Domain Electromagnetic Survey (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) Survey on the Spring Bay target, with geophysical work expected to begin in March.
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, coinciding with historical drill holes showing elevated uranium and anomalous clay alteration. Global has an option to earn 51% interest in Forum's stake by spending up to $9M over four years.
The planned surveys aim to refine drill targeting by helping understand conductor orientation and identifying clay alteration systems at depth within the Spring Bay gravity low anomaly.
Global Uranium Corp (GURFF) e Forum Energy Metals hanno annunciato l'inizio della costruzione di un campo nel Northwest Athabasca Project in Saskatchewan, Canada. Le aziende prevedono di condurre un Time Domain Electromagnetic Survey (TDEM) e un Direct Current Resistivity and Induced Polarization (DCIP) Survey sul target di Spring Bay, con i lavori geofisici che dovrebbero iniziare a marzo.
Un campo di 20 persone sarà stabilito sul lato occidentale di Maurice Bay, con materiali trasportati tramite aerei leggeri e strade di ghiaccio da Uranium City. Il target di Spring Bay presenta un'anomalia di gravità bassa lunga 4 km, coincidente con fori di perforazione storici che mostrano elevati livelli di uranio e alterazioni anomale della argilla. Global ha un'opzione per guadagnare il 51% di interesse nella partecipazione di Forum spendendo fino a 9 milioni di dollari in quattro anni.
Le indagini previste mirano a perfezionare i target di perforazione, aiutando a comprendere l'orientamento dei conduttori e identificare i sistemi di alterazione della argilla in profondità all'interno dell'anomalia di gravità bassa di Spring Bay.
Global Uranium Corp (GURFF) y Forum Energy Metals han anunciado el inicio de la construcción de un campamento en el Northwest Athabasca Project en Saskatchewan, Canadá. Las empresas planean llevar a cabo un Time Domain Electromagnetic Survey (TDEM) y un Direct Current Resistivity and Induced Polarization (DCIP) Survey en el objetivo de Spring Bay, con trabajos geofísicos que se espera comiencen en marzo.
Se establecerá un campamento de 20 personas en el lado oeste de Maurice Bay, con materiales transportados por avión de ala fija y por carreteras de hielo desde Uranium City. El objetivo de Spring Bay presenta una anomalía de baja gravedad de 4 km de longitud, coincidiendo con agujeros de perforación históricos que muestran niveles elevados de uranio y alteraciones anómalas de la arcilla. Global tiene la opción de obtener el 51% de participación en la participación de Forum gastando hasta 9 millones de dólares en cuatro años.
Las encuestas planificadas tienen como objetivo refinar los objetivos de perforación al ayudar a entender la orientación de los conductores e identificar sistemas de alteración de arcilla en profundidad dentro de la anomalía de baja gravedad de Spring Bay.
글로벌 우라늄 주식회사 (GURFF)와 포럼 에너지 메탈스가 캐나다 서스캐처원주 노스웨스트 아타바사카 프로젝트에서 캠프 건설을 시작한다고 발표했습니다. 두 회사는 스프링 베이 타겟에서 시간 영역 전자기 조사 (TDEM) 및 직류 저항 및 유도 극화 조사 (DCIP)를 수행할 계획이며, 지구물리학 작업은 3월에 시작될 것으로 예상됩니다.
20인 규모의 캠프가 모리스 베이 서쪽에 설립되며, 재료는 고정익 항공기와 얼음 도로를 통해 우라늄 시티에서 운송됩니다. 스프링 베이 타겟은 4km 길이의 중력 저하 이상을 특징으로 하며, 이는 높은 우라늄 수치와 비정상적인 점토 변화를 보여주는 역사적인 드릴 홀과 일치합니다. 글로벌은 포럼의 지분에서 51%의 이익을 얻기 위해 4년에 걸쳐 최대 900만 달러를 지출할 수 있는 옵션을 가지고 있습니다.
계획된 조사는 드릴 타겟을 파악하는 데 도움을 주어 스프링 베이 중력 저하 이상 내 깊이에서의 전도체 방향과 점토 변화 시스템을 이해하는 데 도움을 주는 것을 목표로 합니다.
Global Uranium Corp (GURFF) et Forum Energy Metals ont annoncé le début de la construction d'un camp dans le projet Northwest Athabasca en Saskatchewan, Canada. Les entreprises prévoient de procéder à une Time Domain Electromagnetic Survey (TDEM) et une Direct Current Resistivity and Induced Polarization (DCIP) Survey sur la cible de Spring Bay, avec des travaux géophysiques prévus pour commencer en mars.
Un camp de 20 personnes sera établi sur le côté ouest de Maurice Bay, avec des matériaux transportés par avion à voilure fixe et route de glace depuis Uranium City. La cible de Spring Bay présente une anomalie de gravité basse de 4 km de long, coïncidant avec des forages historiques montrant des niveaux élevés d'uranium et une altération anormale de l'argile. Global a une option pour obtenir 51% d'intérêt dans la participation de Forum en dépensant jusqu'à 9 millions de dollars sur quatre ans.
Les enquêtes prévues visent à affiner le ciblage des forages en aidant à comprendre l'orientation des conducteurs et à identifier les systèmes d'altération de l'argile en profondeur au sein de l'anomalie de gravité basse de Spring Bay.
Global Uranium Corp (GURFF) und Forum Energy Metals haben den Beginn des Campbaus im Northwest Athabasca Project in Saskatchewan, Kanada, bekannt gegeben. Die Unternehmen planen, eine Time Domain Electromagnetic Survey (TDEM) und eine Direct Current Resistivity and Induced Polarization (DCIP) Survey im Spring Bay Ziel durchzuführen, wobei die geophysikalischen Arbeiten voraussichtlich im März beginnen werden.
Ein 20-Personen-Camp wird an der Westseite von Maurice Bay eingerichtet, wobei Materialien per Starrflügel- oder Eisstraße von Uranium City transportiert werden. Das Spring Bay Ziel weist eine 4 km lange Gravitätsanomalie auf, die mit historischen Bohrlöchern übereinstimmt, die erhöhte Uranwerte und anomale Tonveränderungen zeigen. Global hat die Option, durch Investitionen von bis zu 9 Millionen Dollar über einen Zeitraum von vier Jahren 51% Interesse an Forums Anteilen zu erwerben.
Die geplanten Erhebungen zielen darauf ab, die Bohrziele zu verfeinern, indem sie das Verständnis der Leiterorientierung und die Identifizierung von Tonveränderungssystemen in der Tiefe innerhalb der Gravitätsanomalie von Spring Bay unterstützen.
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A combined ground EM and Resistivity survey will begin in early March on the Spring Bay target
CALGARY, Alberta, Feb. 11, 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 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.
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 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.
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.
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.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/65767b2c-1478-4972-92ae-10740ee83449
https://www.globenewswire.com/NewsRoom/AttachmentNg/bbf56b3c-5080-4766-8ef6-77357d489c7c
FAQ
What geophysical surveys will GURFF conduct at the Northwest Athabasca Project in March 2025?
How much does Global Uranium need to spend to earn 51% interest in the Northwest Athabasca Project?
What is the size of the gravity low anomaly at the Spring Bay target?
How will materials be transported to the new camp at Northwest Athabasca Project?
What is the purpose of the TDEM and DCIP surveys at the Spring Bay target?
