VANCOUVER, BC--(Marketwired - April 07, 2016) - Forum Uranium Corp. ("Forum" or the "Company") (TSX VENTURE: FDC) is pleased to announce that it has completed eight widely spaced diamond drill holes totaling 1,362 metres along a 10km long electromagnetic (EM) conductor on its 100% owned Highrock Property, interpreted to be the same unit that hosts the Key Lake uranium mine located 15 km to the north. This first pass drill program has successfully identified several areas of interest for further drilling along this significant trend. Geochemical results are expected in May.
Drilling targeted a series of gravity lows (an indication of alteration associated with uranium mineralization) and several major cross-cutting structures along a strong graphitic conductor (see Figure 1). Holes HR-05, 06 and 07 targeted gravity lows at the interpreted intersection of a cross-cutting northeast orientated structure within the north-south graphitic conductor. All three holes intersected zones of strong tectonization and alteration, with holes HR-06 and 07 being exceptionally well developed with sections of missing core, fault gouges and bleaching. HR-07 returned 3 weakly elevated zones of radioactivity at 90.9 to 91.3m (up to 410cps), 118 to 120m (up to 322cps) and 155.9 to 156.9m (up to 314cps). HR-01 also returned 3 zones of elevated radioactivity with 119.3 to 119.5m returning up to 820cps, and HR-03 with one zone from 86.7 to 88.1m with a peak of 704cps. Further drilling in these areas has been strongly recommended by the Company's technical team.
Hole HR-08 tested a very strong gravity low at the north end of the property where the main conductor trends to the northeast. Weak alteration along a strong conductor was encountered in this hole. Future drilling will test this large gravity low further to the northeast, where Forum's property borders Cameco's Key Lake mine property. Several kilometres of this 10km long EM conductor with associated gravity lows remain untested, particularly to the south.
Core samples have been delivered to the Saskatchewan Research Council laboratories for geochemical analysis for uranium, boron and associated elements. In addition, six samples will be analyzed for gold in a massive sulphide zone intersected in holes HR- 04 and 05. Historic reverse circulation drilling on the property indicated anomalous gold values were present in the overburden.
Figure 1: Drill Hole Locations on Ground Gravity Map of the Highrock Project. White ellipsoids mark target areas that are gravity lows (dark blue) in combination with long linear electromagnetic trends (black lines). Drill holes are yellow dots, dashed lines are cross-cutting structures.