The Forum Energy Corporation has recently announced a successful extension of uranium mineralization at their Tatiggaq Thelon Basin project in Nunavut, Canada. According to the company, drill results indicate that the uranium mineralization extends approximately 200 metres along the strike of two zones. This new discovery is significant, as it boosts the potential value of the project and the resources in the area.
The project is located near the Great Bear Feldman Gold District in Nunavut, Canada. It is composed of two zones known as the Tatiggaq and Thelon Basins. The Tatiggaq Basin is made up of a massive, 1.2 km wide by 8 km long granitic intrusive body, which hosts the uranium mineralization. The Thelon Basin, on the other hand, is made up of two 1.6 km wide carbonatite bodies and targets Rare Earth Elements.
The Forum Energy Corporation reports that they have extended the abovementioned uranium mineralization for up to 200 meters. This extension follows an extensive program of drilling. The discovery increases the grade and tonnage of uranium mineralization near the surface. It also indicates that there may be additional ore bodies to be found and more extensions of the deposits.
The increase in uranium mineralization helps to make the project more attractive to investors. It is believed that the project could have potential value as uranium prices have been rising over the last few years. In addition, the project also has potential value due to the occurrence of the rare earth elements which can be extracted for a variety of applications.
The Forum Energy Corporation is currently in the process of collecting the resources necessary for the development of the project. They are conducting additional drilling and preparing the necessary studies in order to move the project into advanced stages of exploration and development. They have also secured an option agreement for the project with the Adanac Molybdenum Mine, whose operations are located nearby.
This latest discovery is great news for the Forum Energy Corporation and the local community. It shows that the project has potential to be economically viable and could lead to a valuable resource for both the company and the local Nunavut community. It could provide the area with job opportunities and help spur economic development.