Mr. Richard Mazur reports
Forum Energy Metals Corp.’s partner Rio Tinto Exploration Canada has completed winter drilling on Forum’s 100-per-cent-owned Janice Lake copper/silver project in Saskatchewan. The first set of assay results are expected in May, 2021. Nine holes for a total of 2,330 metres were drilled on the Rafuse target, a 2.8-kilometre-long priority target of surface copper mineralization that was developed during Rio Tinto’s mapping, prospecting and geophysical program this past summer (news release dated Sept. 29, 2020).
Due to winter in Northern Saskatchewan having a late start and an early spring, the drill program was cut short. The two drills were left at the 80-person camp in preparation for a potential resumption of the drill program in June, 2021. The scope of the drill program and the planned geological, geophysical and geochemical surface exploration program will be finalized once assay results are received.
Three drill fences at 200-metre spacings for a total strike length of 650 metres were tested on the Rafuse target. Historic drilling of nine holes in 1969 at Rafuse only tested to a maximum depth of 62 metres; these returned up to 17 metres of 0.68 per cent copper. Two holes drilled by Noranda (1993) to a maximum depth of 128 metres returned 21.7 metres of 0.19 per cent copper. The nine holes drilled by Rio Tinto went to an average depth of 259 metres, investigating the down-dip extent of the surface mineralization.
Ken Wheatley, PGeo, Forum’s vice-president of exploration and qualified person under National Instrument 43-101, has reviewed and approved the contents of this news release.
About Forum Energy Metals Corp.
Forum Energy Metals has three 100-per-cent-owned energy metal projects being drilled in 2021 by the company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada’s No. 1 rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill-ready uranium projects and a strategic land position in the Idaho cobalt belt.
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Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof