Forum’s approach to this project appears to be deliberate and paced. This will allow Forum to refine their targets as much as possible before spending money on drilling.
[box type=”info” align=”aligncenter” ]Disclaimer: This is an editorial review of a public press release and not an endorsement. It may include opinions or points of view that may not be shared by the companies mentioned in the release. The editorial comments are highlighted so as to be easily separated from the release text and portions of the release not affecting this review may be deleted. Please view original release here.[/box]
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 14, 2013) – Forum Uranium Corp. (TSX VENTURE:FDC) has commenced a ground gravity survey over priority target areas on its 100% owned Clearwater Project on trend and immediately adjacent to the southwest of the Alpha Minerals/Fission Uranium Patterson Lake South (PLS) discovery. The gravity survey will be conducted over significant radon anomalies and priority areas of electromagnetic (EM) conductors along strike with the PLS discovery. This will identify areas of low density rock, typically caused by alteration halos that may be associated with uranium mineralization. The survey is scheduled to conclude by early December.
[box type=”note” align=”aligncenter” ]This is a short release, but a good opportunity to talk about uranium deposits and a few of the methods being used. [/box]
Soil gas radon surveys conducted earlier this fall on Forum’s claims returned comparable and higher results (up to 1.33 pCi/m2/sec) than those reported by Alpha/Fission, immediately west of the PLS R00E discovery zone, where maximum results of 0.95 pCi/m2/sec were returned. (Source: Fission Uranium Corp website). Similarly, radon in water results from a small lake on trend with PLS returned higher results of up to 18 pCi/liter compared to a maximum value of 12 pCi/liter directly overlying the Alpha/Fission R390E deposit (see press release dated October 22, 2013).
[box type=”note” align=”aligncenter” ]Like any big discovery, the high grade uranium discovery at Patterson Lake South (PLS) led to to a staking rush and number of companies now have projects near or adjacent to the PLS. Forum is comparing their soil and water testing to those from the PLS, but little can be concluded from this other than that the results help Forum to delineate targets for further exploration and testing. In this case, forum has decided to follow-up with a ground-based gravity survey. Since uranium is a heavy, dense element it would be expected to contrast as a gravity high compared to the surrounding rock.[/box]
Forum views these results as significant given that these anomalous areas of radon were detected by RadonEx Ltd., whose Electret Ionization Chamber technology was highly successful in detecting the PLS uranium deposits. New data collected from the ground gravity survey will add to the information currently being analyzed to identify drill targets for the initial drill testing planned for January, 2014. In addition, a new radon sampling survey in lakes is planned as part of the winter 2014 program.
[box type=”note” align=”aligncenter” ]Radon is a radioactive gas that occurs as the natural by-product of uranium decay. The Electret Ion Chamber (EIC) that was used to test for radon in the soil is essentially a small passive sensor within a plastic “cup”. The sensor is not unlike the film of a camera, recording the decay of the radon gas within the chamber. The survey is performed by scraping away the organic soil layer and placing the small “cup” on the ground for a set duration of time. Following exposure, the cups are collected and the data recorded at a central location.[/box]
Ken Wheatley, P.Geo. (Saskatchewan/Nunavut), Forum’s Vice President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.
[box type=”note” align=”aligncenter” ]As opposed to some of the other uranium exploration programs we’ve discussed, Forum’s approach to this project appears to be deliberate and paced. This will allow Forum to refine their targets as much as possible before spending money on drilling. This is a smart approach in a tight capital market. [/box]
About Forum Uranium
Forum Uranium Corp is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium 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 in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
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