In This Article:
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2018) - Forum Energy Metals Corp. (TSXV: FMC) ("Forum") is pleased to announce results from its recently completed four-hole diamond drill program on its Janice Lake sedimentary copper project located in northern Saskatchewan's Wollaston Copperbelt. All four holes encountered copper mineralization within 80 m of surface with Hole FEM-01 intersecting 19 m grading 1.00 % Copper including 5.7 m of 2.18 % Copper within a 50.5 m interval grading 0.45 % Copper. A summary of assay results are shown below in Table 1. Drill hole locations and a cross section are shown in Figures 1 and 2.
TABLE 1: Assay Results from the 2018 Diamond Drill Program
| Drill hole Number | From | To | Length | % Cu |
| FEM-01 |
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|
|
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| Total | 27.00 | 77.50 | 50.50 | 0.45 |
| including | 58.50 | 77.50 | 19.00 | 1.00 |
| and | 64.00 | 69.70 | 5.70 | 2.18 |
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|
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| FEM-02 |
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|
|
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| Total | 38.50 | 55.50 | 17.00 | 0.43 |
| including | 41.00 | 53.50 | 12.50 | 0.57 |
| and | 48.00 | 53.50 | 5.50 | 1.02 |
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| FEM-03 |
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|
|
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| Total | 22.00 | 28.00 | 6.00 | 0.25 |
| | 38.00 | 52.50 | 14.50 | 0.31 |
| including | 42.50 | 52.50 | 10.00 | 0.41 |
| and | 43.50 | 47.00 | 3.50 | 0.70 |
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| FEM-04 |
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| Total | 11.30 | 47.50 | 36.20 | 0.21 |
| including | 19.50 | 24.50 | 5.00 | 0.56 |
Rick Mazur, President & CEO of Forum Energy Metals commented, "This limited drill program has not only successfully confirmed the presence of high-grade copper at Janice Lake, more importantly, the continuity of copper mineralization has been demonstrated along strike and at shallow depths. With district scale copper mineralization observed over 10km, Janice Lake exhibits enormous potential to build on this early success. Forum is planning follow-up drilling this winter to test other high priority targets."
Drill Program Summary
A total of 447 metres of drilling were completed with copper mineralization being intersected at shallow depths in all 4 holes as chalcocite and native copper, with lesser malachite and azurite. A correlation of copper and silver values has been observed, and further silver assays are pending.
Copper mineralization began at bedrock surface in hole FEM-04 and FEM-01. Foliation was observed to be 70 degrees to the core axis and true thickness is estimated to be close to the drill thickness (+/- 10%). FEM-01 was located between historic Phelps Dodge holes JL03-38 and JL03-41, which are located 100 m apart, and was drilled at an angle of -70° to the southeast. FEM-02 was located 170 m to the northeast of FEM-01 and also drilled at -70° to the southeast. FEM-03 was located 30 m to the southeast of FEM-01 to test the up-dip potential of the mineralization, and was drilled at -65° to the southeast. FEM-04 was located 200 m northeast of historic Noranda hole PL93-10 and approximately 200 m west of FEM-01 and drilled at an angle of -70° to the southeast. Forum is extremely pleased with the results and plans further drilling in the near future.