Forum Energy Metals – Drilling Set To Commence In March At The Northwest Athabasca Joint Venture - Value Proposition At Their 8 Other Uranium Projects In The Athabasca Basin
Rick Mazur, President and CEO of Forum Energy Metals (TSX.V:FMC – OTCQB:FDCFF), joins us to provide an update on the drilling set to commence and the Global Uranium option to earn-in to the Northwest Athabasca Joint Venture; partnered with NexGen, Cameco, and Orano in the Athabasca Basin of Saskatchewan. We also dig into the value proposition at the Company’s 8 other uranium exploration projects around the Athabasca Basin.
On February 4th the Company announced that the exploration permit has been received and exploration is underway on the Northwest Athabasca (NWA) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada. Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) entered into an option agreement with Forum, acquiring the right to purchase up to 75% of Forum's interest in the Forum / NexGen Joint Venture with NexGen Energy Ltd. by spending $20 million in exploration. This joint venture is part of the Northwest Athabasca Joint Venture with Forum, Cameco Corporation, and Orano Canada Inc. to explore and develop the NWA Project. Camp construction will begin shortly and diamond drilling will commence by March. Forum Energy Metals is the Operator of the Northwest Athabasca Project.
Rick outlines that about 2,000 meters of diamond drilling is anticipated to commence by March and the objective is to at Andy, Zone 2A, and Opie, following up on some of the success from prior exploration work in 2013, and if time allows testing additional high-priority targets at Gomer and Spring Bay. Additional geophysical surveys such as gravity, resistivity and detailed magnetics will be initiated once the camp is in place.
In addition to the work that will be going on at this project, we zoom out and give Rick the opportunity to unpack the opportunities and other JVs going on with a number of their other 8 projects around the Athabasca Basin. He highlights their option potential their 100% owned projects and highlights the potential at a couple of their JV projects like the Grease River, Fir Island Project, and Henday Projects.
If you have questions for Rick on Forum Energy Metals, then please email them into us at either Fleck@kereport.com or Shad@kereport.com.
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