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FORUM URANIUM NEWS RELEASE
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NEWS RELEASE
FORUM IDENTIFIES ALTERATION ZONE WITH
ANOMALOUS URANIUM GEOCHEMISTRY NORTHEAST OF HATHOR'S ROUGHRIDER ZONE
Vancouver,
B.C. September 8, 2008. Forum Uranium Corp. (FDC: TSX-V) is
pleased to announce that it has received geochemical results from 21
drill-holes completed in April, 2008 on its 100% owned Henday project in the
Athabasca Basin of northern Saskatchewan. The Henday property is located
along the northeast trend of deposits that host uranium mineralization at the
AREVA/Denison Midwest Lake mine development project and the recent discovery
of the Roughrider Zone by Hathor Exploration Ltd. (click here for map).
Illite
alteration halos with anomalous geochemistry may be indicative of a fertile
hydrothermal system, and is a common feature around all the known uranium
deposits in this part of the Athabasca Basin (Midwest, Sue, McLean, Collins
Bay and Cigar Lake). Two of Forum's drill holes successfully identified an
illitic alteration halo with associated tectonization, quartz dissolution and
anomalous geochemistry. In drill-hole RL-46, the alteration halo
extends both upwards into the sandstone and downwards into the basement for a
total of 50m in thickness (115 to 155m). The sandstone showed anomalous
geochemistry just above the unconformity. A second drill-hole, RL-51
located 70m away, also intersected 32 metres of the alteration halo and
returned anomalous geochemistry in the lower sandstone.
The
main part of the halo appears to be located under the north end of Mallen
Lake, which straddles the western border of Areva's McLean Lake project, but
ice conditions did not allow for further drill testing of the target.
Graphite was intersected near the bottom of the hole, with the up-dip
extension lying further east under Mallen Lake. The alteration halo is also
located only 2 km north of AREVA's Mallen Lake showing where drill intercepts
of 5.9% U3O8 over 0.3 m have been reported in previous
drilling.
Drill
holes on other targets on the project tested the intersection of structures
with known graphitic conductors. Anomalous geochemistry and tectonized
sandstone was intersected in five of the holes as well. (see Table 1), with
values of 225 ppm U over 2.9 m in RL-36 and 313 ppm U over 0.4 m in RL-42.
|
Drill-hole
|
From - To (metres)
|
U (ppm)
|
B (ppm)
|
Ni (ppm)
|
Pb (ppm)
|
Cu (ppm)
|
|
RL-36
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178 to 180.9m (2.9 m)
|
225
|
25
|
141
|
16
|
4
|
|
RL-40
|
169.3 to 169.9m (0.6 m)
|
57
|
619
|
107
|
37
|
1016
|
|
RL-42
|
155.7to 156.1m (0.4 m)
|
313
|
224
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176
|
270
|
49
|
|
RL-46
|
143 to 143.85m (0.85 m)
|
26
|
332
|
134
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29
|
71
|
|
RL-47
|
243.6 to 244m (0.4 m)
|
205
|
27
|
29
|
39
|
116
|
|
RL-51
|
140 to 141m (1.0 m)
|
25
|
191
|
247
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48
|
64
|
|
RL-52
|
124 to 126m (2.0 m)
|
102
|
33
|
86
|
12
|
2
|
Table 1: Selected Geochemistry from 2008 Henday
Drill-holes
The Mallen Lake illite halo and associated anomalous
geochemistry is a positive sign for this project, and upgrades the potential
of the property from when it was acquired one year ago. Work proposed
for 2009 will include ground gravity surveys over the anomalous areas which
proved effective in delineating Hathor's nearby Roughrider zone.
Quality Control/Quality Assurance
Core samples were collected from the 21 drill-holes and shipped
in sealed containers to the Saskatchewan Research Council, an ISO/IEC 17025:2005
(CAN-P-4E) certified laboratory for geochemical analysis using the Uranium
ICP Package. This package is the preferred analytical technique for detecting
uranium and pathfinder elements in the alteration halos of unconformity-type
uranium deposits in the Athabasca Basin. Ken Wheatley, P.Geo.
(Saskatchewan, NWT/Nunavut), Forum's Vice President, Exploration is the
Qualified Person that has reviewed the contents of this news release.
About Forum Uranium
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
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information contact:
Rick Mazur
President & CEO
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
Tel:
604-630-1585
Fax: 604-662-8429
Email:
info@forumuranium.com
Website: http://www.forumuranium.com/
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