Forum Uranium Corp. and Hathor Exploration Ltd. Complete Drill Program on the Henday Project
31.03.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/31/11 -- Forum Uranium Corp. (TSX VENTURE: FDC) and Hathor Exploration Limited (TSX VENTURE: HAT) announce that the diamond drill program on the Henday Project, northern Saskatchewan, has been completed. A total of 17 holes for 3,774 metres were drilled on the Mallen Zone (13 holes), the King target (3 holes) and the Jen target (1 hole). Assays are expected in mid April.The 2011 drill program has extended the zone of intense alteration and elevated radioactivity over an area of 350 metres by 150 metres in a northwest-southeast direction. The 500m by 600m resistivity anomaly that outlines a large zone of alteration remains to be tested by wide spaced drilling to the west and south, as the alteration remains open in these directions. Anomalous radioactivity was noted in most of the drill holes within the basement lithologies. The results remain encouraging for the presence of uranium mineralization and further drilling is recommended.
The unconformity in the Mallen Lake area is shallow at 110m, easily reached by open pit methods. Several drill-holes intersected uranium mineralization in 2010 within basement lithologies (up to 0.16% uranium) and the clean geochemistry suggests that the uranium model is similar to Hathor's Roughrider zone.
Two other targets were tested as part of the program: the King target and the Jen target (Figure 1). The Jen target lies at the intersection of an east-northeast structure and a major north-east trending fault. Bleaching within the sandstone lithologies from the top of the hole down to the unconformity at 216m, along with localized tectonics and quartz dissolution were encountered, as well as graphite (at 240m) and a sooty pyrite fracture at 252m with elevated radiometrics (652cps on downhole gamma probe). This type of alteration and associated radioactivity is common around unconformity deposits in the Athabasca Basin. Further drilling is recommended on the Jen and other targets for the 2012 drill season. No further drilling is recommended for the King target.
Hathor will have completed its obligations under the terms of its option agreement with Forum to earn a 60% interest in the Henday project and a joint venture will be formed with Forum holding a 40% interest. Ken Wheatley, P.Geo. (Saskatchewan, Alberta, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.
To view, Figure 1: Location of 2011 Winter Drill Targets on Gravity Background, please click on the following link:
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About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth 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 nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
Richard Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
www.forumuranium.com