Forum Drilling intersects 13.5 meters grading 0.56% copper, 0.06% nickel, 5 ppb platinum and 14 ppb palladium at Love Lake Nickel – Copper

Vancouver, British Columbia–(Newsfile Corp. – April 7, 2022) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is pleased to report drill results from its 100% owned Love Lake Nickel-Copper-Palladium project in northeast Saskatchewan. The Love Lake mafic layered complex is located approximately 100 kilometers east of Cameco’s Key Lake uranium mill along Highway 905 to the Rabbit Lake/McClean Lake uranium mills ( figure 1). Forum completed twelve holes for a total of 2,844 yards on three targets – Korvin Lake, Korvin Creek and What Lake.

STRONG POINTS

what a lake

  • LL-03 – 0.23% Cu, 0.05% Ni, 85 ppb Pt, 118 ppb Pd over 8.5 meters from 34.5 m to 43 m

Korvin’s Stream

  • LL-08 – 0.56% Cu, 0.06% Ni, 5 ppb Pt, 14 ppb Pd over 13.5 meters from 24.5m to 38m

  • LL-10 – 0.45% Cu, 0.07% Ni over 23 meters from 3m to 26m

Larry Hulbert, Cu-Ni-PGE consultant for the Love Lake project, said, “The unusually high copper/nickel ratios associated with the magnesium-rich mafic to ultramafic host lithologies at Korvin Creek and their extreme PGE depletion are inconsistent and may suggest an earlier unrecognized sulfide-PGE segregation event. The anomalous association of platinum and palladium at What Lake requires further investigation.

More than 2,000 core samples were taken to examine the geochemistry of this large layered system to determine the geological controls for the nickel, copper, platinum and palladium mineralization encountered at Love Lake. Detailed chemostratigraphic analyzes across all drill holes clearly indicate that these intersections reflect lithologies that are the products of an intrusive complex that has undergone a high degree of differentiation. Such differentiation is a fundamental requirement of intrusions that host platinum group element (PGE) mineralization.

Drill holes 3 to 12 show classic textural examples of layered intrusion features and magmatic sulphides over wide intervals. However, anomalous PGE concentrations only occurred in holes 3 and 4 at What Lake in lithologies that do not appear to differ from those observed in holes 5-12 at Korvin Lake (Figure 2).

The results of this initial drill program by Forum are shown in Table 1.

TABLE 1

WHICH LAKE

HRD

From (m)

to M)

Interval (m)

The copper (%)

Nickel (%)

Platinum (ppb)

Palladium (ppb)

LL-03

34.5

43

8.5

0.23

0.05

85

118

LL-03

46

48.5

2.5

0.28

0.07

65

79

LL-04

201

206

5

0.37

0.01

KORVIN’S CREEK

LL-08

24.5

38

13.5

0.56

0.06

5

14

LL-08

39

44

5

0.18

0.03

LL-08

68

69.5

1.5

0.19

0.01

LL-09

72

73

1

0.25

0.02

LL-10

3

26

23

0.45

0.07

LL-10

94.5

101

6.5

0.21

0.04

LL-10

106.5

108.5

2

0.20

0.02

LL-12

66.5

68

1.5

0.30

0.09

LL-12

73

77

4

0.15

0.05

LL-12

91

94.5

3.5

0.15

0.03

LL-12

123

125.5

2.5

0.11

0.01

LL-12

134

135.5

1.5

0.18

0.03

Love Lake Nickel-Copper-Platinum-Palladium Project

The Peter Lake domain in northern Saskatchewan is the largest mafic/ultramafic complex in North America, second only to the Duluth complex, which is centered in the heart of the mid-continental rift system in Minnesota and Ontario and is home to numerous magmatic copper/nickel and platinum/palladium deposits. Over more than 250 km of the Peter Lake domain, numerous copper/nickel and platinum/palladium showings have been discovered over the past fifty years and have only been the subject of sporadic exploration.

Forum staked 32,075 hectares on the 20 km by 5 km Love Lake complex in 2019, a 2.56 billion year old layered palladium-enriched gabbroic intrusion. A Heli-GT magnetic/gradiometric survey of 4,412 line kilometers was completed for Forum by SHA Geophysics in 2020, two field programs of geological mapping, geochemical sampling and prospecting were completed by Forum in 2019 and 2020 and a Airborne EM HeliSam Time Domain of 588 linear kilometers the survey was completed in 2021.

Larry Hulbert, P.Geo., Forum Copper-Nickel-PGE Consultant and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this press release.

Figure 1: Location of the Love Lake Cu-Ni-PGM project along Highway 905.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/119600_6ebc63dfd4cae991_003full.jpg

Figure 2 Hole LL-08 at 28 meters showing classic magmatic silicate-sulfide textures.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/119600_6ebc63dfd4cae991_004full.jpg

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metals company with uranium, copper, nickel and cobalt projects in Saskatchewan, Canada’s number one mining province for exploration and development, a strategic position of uranium lands in Nunavut and a strategic cobalt land position in the Idaho cobalt belt. For more information: www.forumenergymetals.com

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, geo.
President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, contact:

Rick Mazur, P.Geo., President and CEO
[email protected]
Phone – 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119600

Melvin B. Baillie