Forum Energy Metals Corp (Stock Symbols – TSXV: FMC, OTCMKTS: FDCFF) is a company that explores for metals. They focus on uranium, copper, nickel and palladium. This company explores these minerals in North America. It’s uranium projects are all located within the mighty Athabasca Basin in Saskatchewan, Canada.
The Athabasca Basin has the world’s highest grade uranium deposits and mines. Within this ultra high grade region, the company has seven uranium exploration projects.
The Fir Island uranium project is 100% company owned and is in the upper north west side of the Athabasca Basin. The project area is large and covers 20,463 Ha. Fir Island is approximately 5 kilometers from the community of Black Lake and is connected to an all weather road to the provincial highway system.
The deposit is a potential open pit and shallow deposit that is near Orano Canada’s McClean Lake Mill. The company has a 24 hole, and 5,000 meter drilling program in process to continue defining the project. Fir Island is operated by Forum Energy Metals and is funded by Orano. Over four years, they can earn a 70% interest in the deposit.
The Wollaston uranium project is also wholly owned by the company, and was recently acquired. The company has a gravity program planned for this year to test highly prospective targets on the property. Interestingly, this project is only 10 kilometers from existing uranium mills.
The Northwest Athabasca Joint Venture project between Forum Energy Metals (39.25% owned), NexGen Energy (28.25% owned), Cameco (20% owned), and Orano (12.5% owned)
The company has an aggressive drilling program across its copper, uranium, nickel, and PGM assets for this year as shown below.
The Janice Lake copper / silver project is wholly owned and is located in the south east directly below the boundary of the Athabasca Basin. Rio Tinto is spending money on exploring an asset. They have to spend $10 million in order to buy a 51% interest in the property, and they are doing this during April of 2021. Rio Tinto can earn an 80% interest for this asset by spending $80 million.
The project demonstrates potential for a district scale mineralization over 50 kilometers. The company drilled a 52 meter hole in 2019 with 0.57% copper, and confirmed multiple additional targets in 2020. The mineralization is on surface and includes chalcocite, bornite, and native copper. The company has an active drill program in process for this property.
The company was formerly known as Forum Uranium Corp. and changed its name to Forum Energy Metals Corp. in February 2018. Forum Energy Metals Corp. was incorporated in 1987 and is headquartered in Vancouver, Canada.
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