- Forum Energy Metals (FCM) is starting modern survey work on its Grease River Project in Saskatchewan’s Athabasca Basin
- The Vancouver-based mineral explorer will carryout airborne magnetic, electromagnetic and radiometric surveys on the property
- The work will help define prospective drill targets on the property
- Forum Energy Metals (TSXV:FCM) is unchanged, trading at $0.08 at 9:30 am ET
Forum Energy Metals (FCM) is starting modern survey work on its Grease River Project in Saskatchewan’s Athabasca Basin.
The Vancouver-based mineral explorer will carryout airborne magnetic, electromagnetic and radiometric surveys on the property, with the assistance of Traction Uranium Corp.
The work will help define prospective drill targets on the property, which has seen some historical exploration work.
The 1,290 line-kilometre survey will be conducted at a 100 metre line spacing over the entire Grease River claims totaling 10,528 hectares.
Traction Uranium exercised an option agreement acquire a 51-percent interest in the property in a cash and stock deal worth $650,000. It also mandates Tractor funds $3 million worth of exploration expenditures on the property by the end of 2025.
Forum will operate the project during the option period.
he Grease River Project consists of two separate claim blocks situated along the Grease River Shear zone, which is more than 400 kilometres long.
A nearby uranium deposit was previously discovered within the shear zone by Amok Ltd. and Eldorado Nuclear Ltd. in the 1970s. A historical resource estimate was included but was not in compliance with modern reporting standards.
Forum Energy Metals (TSXV:FCM) is unchanged, trading at $0.08 at 9:30 am ET.
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