Welcome!

News Feed Item

Forum Commences Drilling at Northwest Athabasca JV to Follow-Up on 39.5m of Uranium Mineralization

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/24/14 -- Forum Uranium Corp. (TSX VENTURE: FDC) ("Forum" or the "Company") is pleased to announce that the 3,000 metre drill program approved by the Northwest Athabasca Joint Venture has commenced. This program will follow-up on the positive results obtained from last winter's drilling, which included Hole NWA-63, (39.5m of 0.15% U3O8 including a 0.5 m interval grading 1.8% U3O8; See press release dated June 5, 2013) drilled on the Otis West target. The mineralization discovered in 2013 at Otis West is hosted within basement rocks along a major fault (the Otis fault) parallel to the Maurice Bay fault. It has a strike length of 50m, a vertical extent of approximately 110m, and remains open to the east and at depth.

This drill program is designed to determine the eastern extent of the mineralization discovered at Otis West and its extension on to the Otis East gravity target, both of which lie on the south side of the 1.5 million pound Maurice Bay deposit(i) (See Figure 1) and extend for one kilometre within strong side by side gravity lows. In addition, planned drilling will also test basement targets identified below the unconformity style Maurice Bay deposit, Zone "A" (historic grades of up to 6m of 5.64% U3O8 at a depth of 113m to 119m drilled in 1978 by Uranerz Exploration and Mining, a predecessor company of Cameco Corporation) and an untested gravity low on the east side and on strike with the Maurice Bay deposit (MB East).

The Northwest Athabasca Property continues to be a prolific area for uranium mineralization, both unconformity-style as demonstrated by the Maurice Bay deposit, and basement-style as determined by three out of four gravity targets drilled that host uranium mineralization in the basement rocks. Five of the nine holes drilled last winter on Otis West intersected shallow uranium mineralization in highly altered basement rocks. This is typical of the class of basement-hosted deposits, such as Fission Uranium's Patterson Lake South discovery, Rio Tinto's Roughrider deposit and Cameco's Millennium deposit, albeit each with their own characteristics.

Forum is Operator of the Northwest Athabasca JV, which is the Company's second drill campaign of the current season. Drilling is continuing at Forum's 100% owned Clearwater project, located on trend and immediately adjacent to the southwest of Fission Uranium's Patterson Lake South (PLS) discovery (See press release dated February 26, 2014)

Maurice Bay Deposit(i)

The Maurice Bay deposit is a 1.5 million pound historical uranium resource estimate based on 600 tonnes grading 0.6% U3O8, as reported by Saskatchewan Industry and Resources, Miscellaneous Report 2003-7. The Maurice Bay historical resource estimate was completed prior to the implementation of National Instrument 43-101. Given the extensive exploration work completed by experienced mineral resource companies, and the quality of the historical work completed, the Company believes the historical estimate to be relevant and reliable. However, 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. Hence, the estimate should not be relied upon. It should be noted that mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by Ken Wheatley, P. Geo. (Saskatchewan and Nunavut), Vice President, Exploration for Forum Uranium Corp., a qualified person under NI 43-101.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/Map_of_Maurice_Bay_Deposit_Area_Figure_1.pdf.

NW Athabasca Joint Venture

The NW Athabasca project is a joint venture held 64% jointly by Forum and NexGen Energy Ltd. Forum is Operator of the joint venture with 23.5% partner Cameco Corporation and 12.5% partner AREVA Resources Canada Inc.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures.

ON BEHALF OF THE BOARD

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.

Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-638-3943

Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
[email protected]
www.forumuranium.com

CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...