- Forum Energy Metals has begun mobilization of its camp, fuel, equipment and second drill to its camp location at the Aberdeen Uranium Project in Nunavut
- A 10,000-metre drill program is expected to begin in June to follow up on a successful drill program done in 2023
- The project is next to Orano’s 133 million-pound Kiggavik uranium deposit
- Shares of Forum Energy Metals are unchanged at C$0.11
Forum Energy Metals (TSXV:FMC) has officially begun mobilization of its camp, fuel equipment and second drill to its camp location at the Aberdeen Uranium Project in Nunavut.
In a news release, the Vancouver-based company stated a 10,000-metre drill program is expected to begin in June to follow up on a successful drill program Forum Energy Metals completed in 2023.
“We are excited to commence our 2024 exploration program in Nunavut starting with the large task of moving our drill camp, second drill and consumables overland from Baker Lake to our new Aberdeen Camp,” Rebecca Hunter, vice president of exploration at Forum Energy Metals, said in a statement.
In 2023, the company drilled four holes in the Tatiggaq deposit, which intersected up to 2.25 per cent uranium oxide over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.
Tuesday’s announcement comes after Forum Energy Metals’ revealed gold assay values associated with high-grade uranium mineralization on the Tatiggaq deposit at the Aberdeen project.
“Gold associated with uranium mineralization at Tatiggaq adds to the economic potential of Forum’s high-grade, unconformity-style deposit in the Thelon Basin,” Hunter said in a statement. “This development shows the immense potential of the northeast Thelon to host additional gold-bearing, unconformity-related uranium deposit systems.”
Forum Energy Metals is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.
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