Comment: Busy, Busy!
8/19/2009 (BAYSTREET NEWSWIRE)
Vancouver, B.C. August 19, 2009. Forum Uranium Corp. (FDC: TSX-V) is pleased to announce that the summer exploration program has commenced on its 100% owned Key Lake Road project and recently acquired Karpinka Joint Venture with Virginia Energy Resources Inc. (formerly Santoy Resources Ltd.), where grades of up to 3,525 ppm uranium (0.42% U3O8) were encountered in boulders and outcrops. (See Forum news release – May 12th, 2009.)
An extensive program of mapping, prospecting, and surveying (soil gas hydrocarbon sampling) will be undertaken over areas of interest along the Key Lake Road Shear Zone and other favourable structural trends. Forum field crews will focus on the Romulus 2, Karpinka, Costco and Highrock Lake target areas. The Key Lake Road project covers over 100 km of prospective trends for mineralization. (Figure 1)
Forum will drill high priority targets in the Costco area where a large gravity anomaly was identified by Forum and historical drilling by Denison in 1979 identified over 150 metres of basement alteration, which was subsequently never followed up. The drill program will take place during the upcoming winter drill season in search for a basement deposit modeled after the recent discovery by Hathor as well as Cameco's 56.5 million pound Millennium uranium deposit (Source; Indicated and Inferred Resource- Cameco 2008 Annual Financial Review). All of the Key Lake targets have potential for this style of basement-hosted uranium mineralization at or near surface.
Soil gas hydrocarbon (SGH) is a survey that can detect minute quantities of gas given off by bacteria that thrive on certain types of ore deposits. Each type of deposit has its own specific bacteria, which gives a specific SGH fingerprint above the deposit. This survey is being conducted over several areas of structural interest where there is a combination of a graphitic conductor and cross-cutting faults. The Key Lake Road project area is particularly amenable to this type of survey due to the near surface, open pit targets on the property with shallow soil and glacial till cover.
Figure 1: Key Lake Road Projects Location Map.
To view Map, please click the following URL:
http://www.forumuranium.com/i/nr/2009-08-18-keylake.gif
Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.
UAbout Forum UraniumU
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. 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 J. Mazur, P.Geo.
President & CEO
Neither 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.
http://www.baystreet.ca/users/newswire/viewarticle.aspx?id=69088
Thursday, August 20, 2009
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