Forum Acquires Former Cameco Uranium Deposits on Trend from Orano's 133 Million Pound Kiggavik Uranium Deposit, Nunavut
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2022) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has acquired by staking 40 claims totalling 53,402 hectares of ground formerly held by Cameco Corporation on trend with the 133 million pound Kiggavik uranium deposit (66.2% Orano, 16.9% Denison 16.9% UEX), one of the largest undeveloped uranium deposits in the world (Figure 1). From 2008 to 2012, Cameco drilled 135 holes for over 36,000 metres of drilling to the west of Kiggavik and discovered two uranium deposits - Tatiggaq and Qavvik and identified the Ayra showing which are now owned 100% by Forum.
The Kiggavik deposit and the Cameco discoveries in the northeastern Thelon Basin, Nunavut share many common features as the prolific Athabasca Basin in Saskatchewan. With Forum's legacy claims in the area, Forum holds 97,433 hectares of prime exploration ground approximately 100km west of the Hamlet of Baker Lake, Kivalliq region in Nunavut (Figure 2).
Rick Mazur, President & CEO stated, "There is no better place in the world to explore for high grade unconformity style uranium deposits outside the Athabasca than the Thelon in Nunavut. We have been keeping an eye on this uranium district since Forum actively explored in the region from 2006 to 2012. Cameco's work has given Forum a head start on building a significant resource on our 100% owned property."
Mr. Mazur further explained, "Forum's goal is to supplement the already established mineable reserve at Kiggavik and establish a production centre in Nunavut to fulfill the demand for the carbon-free energy future. Nunavut is a jurisdiction that has proven that mining is an important activity for the benefit of all Nunavummiut as shown by existing mining operations at Agnico's Meadowbank, Meliadine and Hope Bay gold mines and Baffinland's Mary River iron ore mine."
*Source: Various Cameco reports filed with the Nunavut Mining Recorder, presentations by Cameco at the Nunavut Mining Symposium and Saskatchewan Mining Open House from 2009 to 2013 and Rebecca Corrine Hunter PhD Thesis, Laurentian University, Sudbury, Ontario, Canada dated 2021.
Rick Mazur, P.Geo., Forum's President & CEO and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
[Blockierte Grafik: https://orders.newsfilecorp.com/files/4908/112241_a9816d32c479c9d4_003.jpg]
Figure 1: Forum's Claims, Orano/Denison/UEX's Kiggavik deposits and Cameco Discoveries now 100% owned by Forum.
https://ceo.ca/@newsfile/forum…uranium-deposits-on-trend
John Quakes@quakes99Forum $FMC $FDCFF is going all-in on #Uranium "We have been keeping an eye on this uranium district since Forum actively explored in the region from 2006 to 2012. Cameco's work has given Forum a head start on building a significant resource on our 100% owned property."