Global Uranium and Forum Energy begin exploration at Athabasca project
CSE-listed Global Uranium and TSX-V-listed Forum Energy Metals on Wednesday announced that they have started exploration at the Northwest Athabasca (NWA) project in Saskatchewan’s Athabasca basin, following the receipt of necessary permits.
Under an option agreement, Global Uranium can acquire up to 75% of Forum’s interest in the Forum/NexGen joint venture (JV) with NexGen Energy by investing C$20-million in exploration. The NWA project is a JV with Forum, Cameco, and Orano Canada, aimed at advancing uranium development in the region.
Camp construction has begun, with an ice road being built from Uranium City to the project site to facilitate the transport of drilling equipment and supplies. Fixed-wing aircraft will initially transport personnel and materials, while the ice road will accommodate heavier equipment, including diamond drills and fuel.
Diamond drilling, expected to start by next month, will focus on high-priority targets at Andy, Zone 2A, and Opie, with plans to drill between 2 000 m and 3 000 m. Additional targets at Gomer and Spring Bay may also be tested, depending on progress. Geophysical surveys, including gravity, resistivity, and detailed magnetics, are being considered to enhance exploration efforts.
"We are pleased that we can get under way with a drill programme this winter on this highly prospective project," stated Global Uranium CEO Ungad Chadda.
"We look forward to advancing our exploration work in partnership with Forum Energy Metals and are confident that this project will contribute to the
long-term growth and success of Global Uranium."
Forum Energy Metals CEO Rick Mazur, meanwhile, acknowledged the support of local communities, including Stony Rapids, Fond du Lac, Uranium City, Camsell Portage, and Fort Chipewyan. “We look forward to continually building our relationships with these communities as we more forward with our exploration programme."
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