- Forum Energy Metals (FDCFF, Financial) and Global Uranium have completed their winter exploration program at the Northwest Athabasca Project in Saskatchewan.
- The program included 656 meters of diamond drilling with elevated radioactivity discovered in 3 out of 4 drill holes.
- Global Uranium can earn a 51% interest by spending $9M over four years.
Forum Energy Metals Corp. (FDCFF) and Global Uranium Corp. have successfully finished their winter exploration program at the Northwest Athabasca Project in Saskatchewan, Canada. This effort involved 656 meters of diamond drilling across the Zone 2A and Rosie grid areas, and the completion of ground geophysical surveys over Spring Bay.
The drilling program revealed significant findings, including elevated radioactivity levels of 170-300 counts per second (cps) in fractures at Zone 2A. At Rosie, bleached sandstone with radioactivity up to 120 cps was identified within basement gneiss fractures. Additionally, the geophysical surveys at Spring Bay detected a major conductor that coincides with a strong gravity anomaly, highlighting the area's potential for uranium mineralization.
The project, strategically positioned 75 km west of Uranium City along Lake Athabasca, spans 13,876 hectares spread across 11 mineral claims. Under an earn-in agreement, Global Uranium can acquire a 51% interest by investing $9 million over four years. Despite logistical hurdles, such as constructing a new camp and a 70 km ice road for equipment transportation, the program has successfully underscored the project's potential to host uranium mineralized zones.
