27 February 2024
Vancouver, B.C., February 27, 2024 – Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (“Forum” or the “Company”) announces significant gold assay values associated with high-grade uranium mineralization on the Tatiggaq deposit in the Thelon Basin at its newly re-named Aberdeen uranium project. Forum holds a 100% interest in 95,500 hectares of ground adjacent to Orano’s 133 million pound Kiggavik uranium deposit* located 100 km west of Baker Lake, Nunavut. Drill core from two holes drilled into the Main and West zones of Tatiggaq were re-assayed for gold (Figure1).
HIGHLIGHTS
Dr. Rebecca Hunter, Forum’s VP, Exploration stated, “Gold associated with uranium mineralization at Tatiggaq adds to the economic potential of Forum’s high grade, unconformity-style deposit in the Thelon Basin. Forum is well funded to advance this discovery with a 10,000-metre drill program planned for this summer. Forum will conduct metallurgical tests upon completion of the drill program to determine gold and uranium recoveries. This development shows the immense potential of the northeast Thelon to host additional gold-bearing, unconformity-related uranium deposit systems.”
Tatiggaq
Figure 1 shows the main east-northeast structures (Thelon and Judge Sissons faults) as well as the numerous, sub-parallel subsidiary east-northeast structures interpreted to control uranium mineralization on Orano’s and Forum’s property. Figure 2 is a plan map of the Tatiggaq gravity anomaly.
The high gold values are found in the mineralized intervals at both Tatiggaq Main and West zones. Figure 3 shows the gold values superimposed on the mineralized interval in TAT23-002. While the highest gold values are correlated with the highest uranium intercepts, significant gold values are present as an envelope to uranium mineralization (see the following link to the Company website for detailed analysis:
https://forumenergymetals.com/site/assets/files/4221/2024-02-27-au-results-table.pdf
TAT23-002 was drilled into the Tatiggaq Main Zone and TAT23-003 was drilled 200 m to the SW along strike into the Tatiggaq West Zone. Both drill holes intersected significant uranium mineralization and coincident gold mineralization. TAT23-004 located in between these two drill holes (Figure 2) is currently in the lab for gold assay.