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Forum gets head start on Thelon basin uranium plans

4th February 2022

By: Creamer Media Reporter

     

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TSX-V-listed Forum Energy has acquired, by staking, 40 claims, totalling 53 402 ha of ground formerly held by Cameco, the junior said this week.

The claims are on trend with the 133-million-pound Kiggavik uranium deposit, which is one of the biggest undeveloped uranium deposits in the world.

"There is no better place in the world to explore for high-grade unconformity style uranium deposits outside the Athabasca than the Thelon in Nunavut. We have been keeping an eye on this uranium district since Forum actively explored in the region from 2006 to 2012. Cameco's work has given Forum a head start on building a significant resource on our 100%-owned property,” said Forum president and CEO Rick Mazur.

From 2008 to 2012, Cameco drilled 135 holes for more than 36 000 m of drilling to the west of Kiggavik and discovered two uranium deposits – Tatiggaq and Qavvik – and identified the Ayra showing which are now owned 100% by Forum.

The Kiggavik deposit and the Cameco discoveries in the north-eastern Thelon basin share many common features with the prolific Athabasca basin in Saskatchewan. With Forum's legacy claims in the area, Forum holds 97 433 ha of prime exploration ground about 100 km west of the Hamlet of Baker Lake, Kivalliq region in Nunavut.

"Forum's goal is to supplement the already established mineable reserve at Kiggavik and establish a production centre in Nunavut to fulfill the demand for the carbon-free energy future. Nunavut is a jurisdiction that has proven that mining is an important activity for the benefit of all Nunavummiut as shown by existing mining operations at Agnico's Meadowbank, Meliadine and Hope Bay gold mines and Baffinland's Mary River iron-ore mine,” said Mazur.

Edited by Creamer Media Reporter

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