Forum Energy Metals Corp V.FMC

excellent news with rio tinto

[newbie2099]

Rio Tinto Sets 2021 Winter Drill Budget at the Janice Lake Copper-Silver Project, Saskatchewan

Vancouver, British Columbia--(Newsfile Corp. - November 11, 2020) - Forum Energy Metals Corp. (TSXV: FMC) ("Forum" or "Company") is pleased to announce that Rio Tinto Exploration Canada (RTEC) has informed the Company of its proposed winter drill program for 2021. Drilling and geological crews will be based out of the newly constructed 80-person Burbidge Lake Camp in the centre of Forum's 100% owned Janice Lake Sedimentary Copper/Silver Project in northern Saskatchewan, Canada. Rio Tinto will mobilize two diamond drills, fuel and other supplies to the property on the 110km winter haul road established last winter. A drill program is planned to commence in January, 2021 for a total of 7,500 metres in approximately 30 holes. The program will focus on follow-up drilling of the Jansem deposit and drilling of a new priority target located 5 kilometres northeast that was developed this summer- Rafuse.

[groundhog]

Do we know how much Rio Tinto is spending with this winter drill program of 7,500 metres, in approx. 30 holes?  I am more interested in the logistics of the 80-person Burbidge Lake camp for their drilling and geological crews.  There should be a lot more activities there apart from operating the two diamond drills.  Looking forward to hearing the results their summer RAB drill

[DowsingR0d]

We know it's $30M for 3 years which ends up at 70/30 JV with Rio and remaining for Forum. Amazing deal if you ask me.  Rio's track record of success is unmatched on copper - can't believe how cheap this little play is. Deck is way too technical and not retail friendly. i'd call up IR and complain!