Forum Uranium Corp. and Uracan Resources Ltd. announce the commencement of a 600 metre drill program to follow-up on drill targets identified by an initial 2014 drill campaign on Forum's 100% owned Clearwater project, on trend from Fission Uranium's Patterson Lake South discovery in the Athabasca Basin, Saskatchewan.
To date, Forum has also conducted prospecting, soil and lake radon surveys, lake sediment sampling, and airborne and/or ground electromagnetic, magnetic, gravity and radiometric surveys. A nine hole, 2,310 metre drill program was completed by Forum in April 2014.
This initial 2014 drilling program defined a number of shallow targets areas with altered and reactivated graphite bearing structures with elevated boron and nickel geochemistry and anomalous radioactivity. Forum and Uracan plan to drill five to seven holes to follow-up these structures and to test new geochemical/geophysical targets that have not yet been drill tested.
Uracan can earn a 51% interest in the Clearwater property by spending $3 million in exploration over three years and up to a 70% interest by spending $6 million over five years. The Clearwater Project covers a total of 9,912 hectares adjoining Fission Uranium's Patterson Lake South claims to the southwest. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator.
Source: http://www.forumuranium.com