Rio Tinto Commences Drilling on Forum's Janice Lake Copper Project, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - Forum Energy Metals Corp. (TSXV: FMC) ("Forum") is pleased to announce that its partner Rio Tinto Exploration Canada Inc. (RTEC) has commenced a 7,000 metre diamond drill program on the Janice Lake copper project. The program is helicopter supported and will utilize two drill rigs to complete approximately 20 to 30 holes. Initially, drilling will concentrate on the areas of known copper mineralization while the data from the recently completed airborne magnetic survey is interpreted by RTEC's geophysical team. RTEC is planning to spend approximately $3 million dollars on the project this year as part of a seven year, $30 million option to earn 80% of the project.
The project team has prioritized four drill target areas (See Figure 1 below):
- Jansem - one of four holes drilled by Forum's initial program completed in 2018 intersected 18.5m (true thickness 18 m) grading 0.94% Cu and 6.7 g/t Ag including 5.2m grading 2.22% Cu and 16.5 g/t Ag.
- Janice - Noranda drill hole PL-93-11 intersected 33m grading 0.77% Cu.
- Kaz - Noranda drill hole PL-93-05 intersected 15.1m grading 0.32% Cu.
- Genie North (Juno) - An interpreted structural target with nearby grab samples at surface returning up to 1.9% Cu and 32 g/t Ag.
The goals for the program are to determine:
- the dip and attitude of the copper mineralization,
- the possibility of multiple strata-bound copper bearing mineralized horizons,
- the association of magnetics and copper in these rocks; and
- the possibility of high-grade zones of mineralization caused by structure (folds, faults) or by mafic-rich layers.
The detailed information gathered from this program, in addition to the data obtained by the recently completed airborne geophysical survey, will enable the team to identify future drill targets within the 52 km long sedimentary basin.
Figure 1: Planned Diamond Drill Areas for the 2019 Program. The red boxes show the areas to be drilled. Kaz, Janice and Jansem are along strike, while Genie is interpreted to be a repeated sequence of mineralized strata caused by faulting.
To view an enhanced version of Figure 1, please visit:
Details of the exploration agreement with Rio Tinto can be read in the Forum news release of May 9, 2019.
Ken Wheatley, P.Geo. and Forum's VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
About Forum Energy Metals
Forum Energy Metals Corp (TSXV: FMC) explores for energy metals, including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada's Number One mining province. In addition, Forum has established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
ON BEHALF OF THE BOARD OF DIRECTORS
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.
For further information contact:
Rick Mazur, P.Geo., President & CEO
Craig Christy, VP Corporate Development
Burns Singh Tennent-Bhohi, Director
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46531