Global Uranium and Forum Energy Metals Commence Exploration at the Northwest Athabasca Project, Saskatchewan
Global Uranium Corp. (GURFF) and Forum Energy Metals have initiated exploration at the Northwest Athabasca Project in Saskatchewan, following receipt of their exploration permit. The project, located along Lake Athabasca's northwest shore, involves a joint venture with NexGen Energy, Cameco , and Orano Canada.
Global Uranium has the option to acquire up to 75% of Forum's interest in the Forum/NexGen JV by investing $20 million in exploration. Camp construction and ice road building from Uranium City will begin in early February, with diamond drilling scheduled to commence by March. The drilling program aims to complete 2,000 to 3,000 meters, focusing on Andy, Zone 2A, and Opie targets, with potential expansion to Gomer and Spring Bay. Additional geophysical surveys including gravity, resistivity, and detailed magnetics are under consideration.
Global Uranium Corp. (GURFF) e Forum Energy Metals hanno avviato l'esplorazione presso il Progetto Northwest Athabasca in Saskatchewan, dopo aver ricevuto il permesso di esplorazione. Il progetto, situato lungo la sponda nord-ovest del Lago Athabasca, prevede una joint venture con NexGen Energy, Cameco e Orano Canada.
Global Uranium ha l'opzione di acquisire fino al 75% dell'interesse di Forum nella JV Forum/NexGen investendo 20 milioni di dollari in esplorazione. La costruzione del campo e la costruzione della strada di ghiaccio da Uranium City inizieranno all'inizio di febbraio, con la perforazione a diamante prevista per iniziare entro marzo. Il programma di perforazione mira a completare da 2.000 a 3.000 metri, concentrandosi sugli obiettivi Andy, Zona 2A e Opie, con potenziali espansioni a Gomer e Spring Bay. Ulteriori sondaggi geofisici, tra cui gravità, resistività e magnetometria dettagliata sono in fase di valutazione.
Global Uranium Corp. (GURFF) y Forum Energy Metals han iniciado la exploración en el Proyecto Northwest Athabasca en Saskatchewan, tras recibir su permiso de exploración. El proyecto, ubicado a lo largo de la costa noroeste del Lago Athabasca, implica una empresa conjunta con NexGen Energy, Cameco y Orano Canada.
Global Uranium tiene la opción de adquirir hasta el 75% del interés de Forum en la JV Forum/NexGen mediante una inversión de 20 millones de dólares en exploración. La construcción del campamento y la construcción de la carretera de hielo desde Uranium City comenzarán a principios de febrero, con perforaciones programadas para comenzar en marzo. El programa de perforación tiene como objetivo completar entre 2,000 y 3,000 metros, centrándose en los objetivos Andy, Zona 2A y Opie, con una posible expansión hacia Gomer y Spring Bay. Se están considerando encuestas geofísicas adicionales, incluyendo gravedad, resistividad y magnetometría detallada.
글로벌 우라늄 코퍼레이션(GURFF)와 포럼 에너지 메탈스는 탐사 허가를 받은 후 사스카체완의 노스웨스트 아사바스카 프로젝트에서 탐사를 시작했습니다. 이 프로젝트는 아사바스카 호수 북서쪽 해안에 위치하며, 넥스젠 에너지, 카메코 및 오라노 캐나다와의 공동 사업을 포함합니다.
글로벌 우라늄은 2천만 달러를 탐사에 투자함으로써 포럼/NexGen JV에서 포럼의 지분 최대 75%를 인수할 수 있는 옵션이 있습니다. 캠프 건설과 우라늄 시티에서의 빙판 도로 건설은 2월 초에 시작될 예정이며, 다이아몬드 드릴링은 3월부터 시작될 예정입니다. 드릴링 프로그램은 Andy, Zone 2A, Opie 목표에 집중하여 2,000~3,000미터를 완공하는 것을 목표로 하며, Gomer와 Spring Bay로의 확장 가능성도 고려하고 있습니다. 추가적인 지구물리 조사에는 중력, 저항값 및 세부 자기 탐사가 포함됩니다.
Global Uranium Corp. (GURFF) et Forum Energy Metals ont lancé des explorations sur le projet Northwest Athabasca en Saskatchewan, après avoir reçu leur permis d'exploration. Le projet, situé le long de la rive nord-ouest du lac Athabasca, implique un partenariat avec NexGen Energy, Cameco et Orano Canada.
Global Uranium a la possibilité d'acquérir jusqu'à 75% de l'intérêt de Forum dans le JV Forum/NexGen en investissant 20 millions de dollars dans l'exploration. La construction du camp et de la route de glace depuis Uranium City commencera début février, avec des forages diamantés prévus pour début mars. Le programme de forage vise à compléter entre 2 000 et 3 000 mètres, en se concentrant sur les cibles Andy, Zone 2A et Opie, avec une expansion potentielle vers Gomer et Spring Bay. Des enquêtes géophysiques supplémentaires, dont la gravité, la résistivité et la magnétométrie détaillée, sont également à l'étude.
Global Uranium Corp. (GURFF) und Forum Energy Metals haben die Erkundung des Northwest Athabasca Projekts in Saskatchewan begonnen, nachdem sie ihre Explorationsgenehmigung erhalten haben. Das Projekt, das sich an der nordwestlichen Küste des Athabasca-Sees befindet, umfasst ein Joint Venture mit NexGen Energy, Cameco und Orano Canada.
Global Uranium hat die Möglichkeit, bis zu 75% des Anteils von Forum am Forum/NexGen JV zu erwerben, indem es 20 Millionen Dollar in die Exploration investiert. Der Bau des Lagers und die Errichtung einer Eisstraße von Uranium City beginnen Anfang Februar, wobei die Diamantbohrungen voraussichtlich im März starten. Das Bohrprogramm zielt darauf ab, 2.000 bis 3.000 Meter abzuschließen, mit Fokus auf die Ziele Andy, Zone 2A und Opie sowie einer möglichen Erweiterung zu Gomer und Spring Bay. Zusätzliche geophysikalische Untersuchungen, einschließlich Gravitation, Widerstand und detaillierte Magnetik, werden ebenfalls in Betracht gezogen.
- Option to acquire 75% interest in strategic uranium project through $20M investment
- Drilling program of 2,000-3,000 meters to commence by March 2025
- Multiple high-priority drilling targets identified
- Partnership with major uranium companies (Cameco, Orano)
- None.
Mobilization underway for a drill program on the Northwest Athabasca Project in Saskatchewan’s Athabasca Basin
CALGARY, Alberta, Feb. 04, 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 the exploration permit has been received and exploration is underway on the Northwest Athabasca (“NWA”) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). The Company entered into an option agreement with Forum, acquiring the right to purchase up to
"We are pleased that we can get underway with a drill program this winter on this highly prospective project," stated Ungad Chadda, CEO of Global Uranium. "We look forward to advancing our exploration work in partnership with Forum Energy Metals and are confident that this project will contribute to the long-term growth and success of Global Uranium."
Rick Mazur, CEO of Forum Energy Metals stated, “Forum acknowledges the collaboration with the local communities of Stony Rapids, Fond du Lac, Uranium City, Camsell Portage and Fort Chipewyan for their review of the project on their traditional territory. We look forward to continually building our relationships with these communities as we more forward with our exploration program.”
Camp Construction, Mobilization and Diamond Drilling
Camp construction and the building of an ice road from Uranium City to the project site will begin in early February. Fixed wing aircraft will bring the camp construction crew and some preliminary camp materials to site to initiate construction. The ice road will bring additional camp gear and supplies, as well as the diamond drill, fuel, and supplies to the project area. Diamond drilling with Team Drilling is anticipated to commence by March and the objective is to drill 2,000 to 3,000 m focusing at Andy, Zone 2A, and Opie and if time allows testing additional high-priority targets at Gomer and Spring Bay (Figure 2). Additionally, geophysical surveys such as gravity, resistivity and detailed magnetics are being considered once the camp is in place.
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.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/62fc31c4-d3b9-40ef-ab32-593b04a8d6bd
https://www.globenewswire.com/NewsRoom/AttachmentNg/9943f220-6335-4d83-ab95-556b3b625e9b
FAQ
What is the size of Global Uranium's (GURFF) planned drilling program at Northwest Athabasca?
How much does GURFF need to spend to acquire 75% interest in the Northwest Athabasca project?
When will GURFF begin drilling operations at Northwest Athabasca Project?
Who are the joint venture partners in the Northwest Athabasca Project with GURFF?
What additional exploration activities is GURFF considering at Northwest Athabasca?
