Forum Uranium Corp.: 4,500 Metre Drill Program at Henday; New Geochemical Targets Identified by Summer Program
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/09/10 -- Forum Uranium Corp. (TSX VENTURE: FDC) announces that preparations are underway for the 2011 drill program on the Henday Project, northern Saskatchewan. A total of 4,500 metres of drilling is planned, starting in early January.
Drill Plan
Drilling will commence on the Mallen Lake zone, where a large alteration system extending well into the overlying sandstones and down into the basement rocks was discovered in the 2010 drill season. The unconformity in the Mallen Lake area is shallow at 110m, easily reached by open pit methods. Several drillholes intersected uranium mineralization, with 0.5 metres at 723ppm U in RL-66 and 0.5 metres of 1610ppm U in RL-68, both within basement lithologies. Clean geochemistry (very minor arsenic and nickel) returned from this zone suggests that the uranium mineralization is basement hosted, similar to Hathor's Roughrider zone or Cameco's Millennium deposit.
Summer Geochemical Survey Identifies New Targets
A series of four soil sampling grids (218 samples) were completed in the summer of 2010, located down-ice from several priority structural and geophysical targets on the Henday project. These were completed to determine if any alteration or mineralization reached surface, and was incorporated into the overlying soils. This was done to aid in prioritizing drill targets for the upcoming program. Geochemistry returned from the soils show two areas of interest shown in Figure1. A weakly anomalous area of uranium, lead and nickel occurs in the northeast quadrant of the Henday property and a uranium and nickel anomaly is also present at the south end of the property. Both these 'Areas of Interest' occur along the interpreted Midwest Trend which has been identified on the property and is the controlling structure for Areva/Denison's Midwest deposit, Hathor's Roughrider deposits and Fission's J zone. Drilling of these areas is planned in the upcoming program.
Hathor Exploration Ltd. currently holds a 40% interest in the Henday project with Forum as Operator. The funding of this drill program by Hathor will complete Hathor's option to earn a 60% interest in the Henday project and a joint venture will be formed with Forum holding a 40% interest.
Ken Wheatley, P.Geo. (Saskatchewan, Alberta, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.
To view the map associated with this release, please visit: http://media3.marketwire.com/docs/fdc-map.pdf.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
Rick Mazur, P.Geo., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
604-689-3609 (FAX)
info@forumuranium.com
www.forumuranium.com