Forum Commences Exploration on Key Lake Road Project
Wednesday July 4, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 4, 2007) - Forum Uranium Corp. (FDC.V - FDCFF) is pleased to announce commencement of its summer exploration program on the Key Lake Road project located along Provincial Highway 914 approximately 60 kilometres (km) from the Cameco/AREVA Key Lake uranium processing facility in the eastern Athabasca Basin, northern Saskatchewan. Particular emphasis this summer will be placed on detailed structural mapping and prospecting of the Hobo and Molly zones where uranium mineralization grading up to 5.3% has been encountered. Forum has a 100% interest in over 80 km of favourable ground along the Wollaston Trend, host to approximately one-third of the world's uranium production.
Helicopter-supported drilling of the Molly zone is planned this fall to test an eight km long trend of uranium mineralization along the Key Lake Road shear zone. A complex suite of pegmatites, graphitic metasediments and calc-silicates within the Wollaston group are strongly mineralized adjacent to airborne electromagnetic conductors. Ground electromagnetic surveys will be conducted this summer to pinpoint drill targets at Molly for the fall drill campaign. A total of 6 to 8 short drillholes are planned, as all uranium targets are near-surface. Follow-up drilling is also planned this fall on the DD zone and this winter on the Hobo zone.
Forum has commenced a major lake sediment geochemical survey over the 111,564 hectare property. Lake sediment geochemistry has proven to be an effective exploration tool as demonstrated by the discovery of the Hobo zone from follow-up of anomalous lake sediment samples late in the field season last summer. This summer's program is supported by a float-equipped Bell 206 helicopter that will sample lakes at a high sample density of approximately one sample per 1.5 km. Coupled with the previous geological and geophysical data, this survey is expected to delineate further areas of uranium potential on this large, well located property close to roads and uranium processing.
Quality Assurance/Quality Control
Samples will be shipped by the Company's geologist in security sealed containers to Geoanalytical Laboratories of the Saskatchewan Research Council ("SRC") in Saskatoon, Saskatchewan. The SRC lab is ISO/IEC 17025:2005 (CAN-P-4E) certified for the General Requirements for the Competence of Mineral Testing and Calibration. The samples will be treated by both partial and total digestion. ICP-OES analyses will be done for both totally digested and partially digested samples while flourimetry uranium analysis will be performed for the partially digested samples only. In addition, the L.O.I. (loss on ignition) will be done for determination of the carbon content of the sediment samples.
Ken Wheatley, P.Geo. (Saskatchewan), Forum's Vice President, Exploration, and Dr. Boen Tan, P.Geo. (Saskatchewan), Forum's Chief Geologist, are the Qualified Persons supervising the exploration program and have reviewed the contents of this news release.
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