Forum Uranium Corp.: Follow-Up Drilling At Forum's Dd Zone Intersects Widespread Uranium
FOLLOW-UP DRILLING AT FORUM'S DD ZONE INTERSECTS WIDESPREAD URANIUM
Vancouver, BC. June 13, 2007. Forum Uranium Corp. (FDC: TSX-V) 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 51m 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
A plan map of the drill holes can be viewed at:
Quality Assurance/Quality Control
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.
ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information contact:
Manager of Corporate Communications
FORUM URANIUM CORP.
Vancouver, BC V6C 2B3
Unternehmen: Forum Uranium Corp. - ISIN: CA3498521036