Follow-Up Drilling at Forum's DD Zone Intersects Widespread Uranium
Wednesday June 13, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 13, 2007) - Forum Uranium Corp. (FDC.V - FDCFF) is pleased to announce results from follow-up drilling on uranium mineralization encountered on the DD Zone (see news release dated December 13, 2006) at the Key Lake Road project, where the Company is focused on shallow, unconformity-style basement deposits. Multiple zones of uranium mineralization were intersected over a total length exceeding 140 metres (m) in hole DD-16 within strongly sulphide-altered, fractured and brecciated graphitic pelite. Further drilling of the DD Zone is planned later this year to test this area of increasing uranium mineralization and alteration. The DD Zone is located along Provincial Highway 914 approximately 60 km from the Cameco/AREVA Key Lake uranium processing facility in the eastern Athabasca Basin, northern Saskatchewan.
Rick Mazur, President & CEO, stated, "The significance of this drillhole is the intensity of uranium mineralization and alteration throughout the entire hole. Uranium mineralization seems to be increasing to the east of the original DD surface mineralization in an area of overburden that exhibits elevated concentrations of uranium in lake sediments and soil samples. Further drilling in this area is planned this fall to fully evaluate the extent of the DD showing."
DD-01 and DD-03 were drilled in the fall of 2006 to test the outcrop uranium showings in the DD Zone and intersected uranium mineralization with trace sooty pitchblende grading 0.15% U3O8 over 0.25 metres and 0.18% U3O8 over 0.25 m respectively, within sheared and altered graphitic rocks and hematitic breccia. An electromagnetic conductor was outlined east of the locations of these holes and a bog anomaly of 101 ppm uranium and a lake sediment anomaly of 9 ppm uranium were found east of this weak conductor. Two holes, DD-15 (collared 50 m east of DD-01) and DD-16 (collared 50 m east of DD-03) were drilled in late April to test the down dip extension of uranium mineralization encountered in drillholes DD-01 and DD-03 in the area of these geophysical and geochemical anomalies.
DD-16 encountered sporadic uranium mineralization throughout the entire length of the hole from 51 m to near the bottom of the hole at a depth of 193.6 m. The uranium mineralization occurs in fractures and breccia within graphitic pelite to semipelite and is associated with strong pyritization as pyrite stringers and nodules. The grades of the mineralization range from 0.011% U3O8 to 0.09% U3O8 in over 12 intervals of 0.2 m each. Uranium mineralization in DD-16 is more widely distributed and the intensity of the mineralization is increasing in comparison to mineralization found in hole DD-03. Follow-up drilling of this hole to the east of DD-16 is planned for this fall further into the hangingwall of the weak conductor and in an overburden covered area in the vicinity of anomalous lake and bog geochemistry.
Samples were shipped by the Company's geologist in security sealed containers to Loring Laboratories Ltd. in Calgary, Alberta. Rock samples are crushed to minus 10 mesh, split to a 250 gram sample and pulverized to 90% passing 150 mesh. Samples are analyzed by 30 element ICP analysis which report as ppm uranium and uranium content is converted to %U3O8 content. ICP results over 1000 ppm uranium are check assayed by fluorimetric analysis. A result of 0.1% U3O8 is equivalent to 2 pounds of U3O8 per short ton. All holes were logged with a downhole radiometric probe.
Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person supervised the DD drill program and has approved the contents of this news release.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of uranium projects. The Company has a 100% interest in over 160,000 hectares of uranium exploration properties, a 65% operating interest in the Costigan Lake Joint Venture with partner NVI Mining (Breakwater Resources) and a 50% operating interest in the Haultain River Joint Venture with partner Hathor Exploration in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% operating interest in the North Thelon Joint Venture ("NTJV") with partner Superior Diamonds in over 100,000 hectares of prospective ground nearby AREVA's 130 million pound U3O8 Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. The NTJV has recently optioned property in the Kiggavik area from Tanqueray Resources Ltd.
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