Forum Energy Metals Corp, (TSXV:FMC)

Forum Energy Metals Corp, (TSXV:FMC)

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About
Forum Energy Metals Corp. is a Canadian-based mineral resource company focused on the acquisition, exploration and development of energy metals: copper, nickel, cobalt, uranium, and palladium. The Company operates mostly in Saskatchewan, Canada’s #1 rated mining jurisdiction. The Company’s technical team are experienced and committed exploration professionals with an established track record of mine discoveries.

-Key Projects Summary:

1. Janice Lake Copper Project - 52km Wide District Partnered with Rio Tinto
$30 Million Option Agreement to explore Janice Lake.
2019: Rio Tinto spent $3.7 Million in exploration; copper mineralization confirmed and extended at primary Janice and Jansem targets.
2020: Rio Tinto completed a 110 kilometre winter haul road to Janice Lake and constructed a 50 man work camp. Rotary Air Blast drill program, geophysical surveys over known mineralization, mapping and prospecting completed this summer. Assay results have been returned and are being interpreted.
2021: Drill equipment and supplies are currently being brought to site on winter haul road in preparation for 7,500 metre drill program this winter.

2. Fir Island Uranium Project – Athabasca Basin – Partnered with Orano Canada Inc.
$6 Million Option Agreement to explore the Fir Island project. First phase of drilling completed in March, 2020, permitting underway for 2021.
2021: Permitting in progress for a 24 hole, 6,500 metre drill program starting in late January.

3. Love Lake Copper-Nickel Palladium Project - 100% owned
2020: High resolution airborne magnetic survey completed in July, field program of outcrop and soil sampling completed, assay results have been processed and interpreted by Forum’s technical team. Three priority targets (possible feeder zones) have been identified: the Road Target, the Korvin Lake Target and the What Lake Target. Several small feeder pipes have also been identified.
2021: Permitting in progress for an airborne EM survey over the 3 priority targets. A small, specific ground EM is planned for the Road target to give specific targets for a 3,000 metre drill program planned for late spring/early summer.

-Projects:

-JANICE LAKE SEDIMENTARY COPPER PROJECT:

Ownership:

Forum entered into an agreement granting Rio Tinto Canada a four year option to acquire a 51% interest in the Janice Lake Project by spending $10 million in exploration, making $490,000 in cash payments, and servicing the remaining $200,000 in underlying cash payments to Transition Metals Corp. Rio can earn a further 29% interest (total 80%) by spending a further $20 million in exploration over three years (total $30 million) and making further cash payments of $150,000 to Forum (total $640,000).

Stage:

Highly prospective with over 20 copper occurrences. Drill results by Noranda in 1993 include 0.77% Cu over 33.0 m including 1.6% Cu over 6 m, within 35 m of surface. In 2003, Phelps Dodge completed 6 diamond drill holes applying geophysical methods to target mineralization under glacial cover which resulted in the discovery of a new zone that returned values including 0.72% Cu over 26.0 m including 1.33% Cu over 5.83 m (JL-03-38). Grab samples collected by Transition Metals have returned values ranging from 0.34 to 9.35% copper and 0.7 to 61.7 g/t silver, confirming previous reports of high-grade mineralization at surface and highlighting the potential for the discovery of multiple near-surface, sediment-hosted copper deposits. A first pass drill 4 hole drill program completed by Forum in August 2018 encountered copper mineralization in all four holes within 80m of surface. Hole FEM-01 intersected 18.5 m (59.0 to 77.5m downhole depth) grading 0.94% Cu and 6.7 g/t Ag including 5.2 metres grading 2.22% Cu and 16.5 g/t Ag. The true thickness of the mineralization is 18.0m.

Rio Tinto Canada entered into an agreement with Forum to acquire 80% of the project by spending up to $30 million over the next 6 years. Rio TInto completed a 4,318 line kilometre high resolution airborne magnetic survey over the entire length of the project, followed by a 21 hole (5,209 metres) drill program in the summer of 2019. They completed a winter access road to site in April of 2020 and cleared the site for a 50-man camp. In the summer of 2020 they completed the camp and a program of mapping, prospecting, geophysics and rotary air blast drilling. Samples have been submitted for assay and are waiting for results.

A 7,500 metre drill program is planned for the winter of 2021, testing several targets including the large and prospective Rafuse target located northeast along strike of the Janice and Jansem showings. The wiinter road is being opened up to allow mobilization of drills, fuel and supplies.

Size:

38,250 Ha, encompassing the entire 52 km Wollaston Copperbelt District.

Location &
Infrastructure:

Located in north-central Saskatchewan within the Wollaston Domain, a northeasterly-trending belt of metamorphosed lower Proterozoic supracrustal rocks deposited upon Archean granitoid basement. A major power transmission corridor runs to the northeast of Janice Lake.

Regional
Significance:

The Janice Lake area contains significant concentrations of sediment-hosted copper showings. Logging of the drill core and petrographic studies suggest that mineralization is hosted by mafic-rich stratigraphy within more felsic units, opening the possibility for multiple layers of copper mineralization. Located 55 km southeast of the Key Lake uranium processing facility in close proximity to several of Forum’s core uranium exploration properties enables this project to be effectively integrated into Forum’s operations.

Significant Comparable Deposits:

The age and depositional environment at Janice are similar to the giant Udokan Deposits of the Lake Baikal region in Siberia, and the Revette deposits of Montana USA. Baikal Mining Company LTD reports JORC compliant Measured and Indicated resources of 1.822 billion tonnes grading 1.01% copper, 14.3 grams per tonne silver for the Udokan deposits. (Baikal Mining Company Ltd. press release presenting published estimate prepared by SRK Consulting, dated April 9, 2014). Hecla Mining reports 43-101 compliant Inferred resources of 112 million tonnes grading 0.7% copper, 1.6 oz/t silver for its Montanore deposit and 97.6 million tonnes grading 0.7% copper and 1.5 oz/t silver for its Rock Creek deposit in Montana. (Hecla Mining Company: published reserves and resources statement, December 31, 2016).

Outlook:

The first phase of drilling has been completed by Rio Tinto Exploration Canada and all 21 drill holes have been reported as of December 3, 2019.The program has successfully confirmed and extended copper mineralization at the Jansem and Janice targets. Further geophysics, prospecting, sampling and mapping and a Rotary Air Blast drill program were completed in the summer of 2020. Work is in progress to start the 2021 drill program.

A table summarizing all drill results completed by Forum and Rio Tinto in the 2018-19 can be found on the home page.

Rick Mazur, Forum’s President & CEO commented, “Drilling by Rio Tinto intersected thick zones of flat lying, stratabound chalcocite and native copper mineralization with good continuity and near-surface grades. Deeper drilling has demonstrated that multiple horizons of copper mineralization are present. We are gaining confidence that Janice Lake is a strongly mineralized system, as new data generated by this program helps us to understand the full potential of this 52km long sedimentary copper basin.”

-LOVE LAKE PALLADIUM EXPLORATION PROJECT:

Ownership:

Forum owns a 100% interest in 10 claims acquired by staking.

Stage:

The Ni-Cu-PGM occurrences are associated with the 2.5 billion year old Swan River mafic complex and the Love Lake felsic pluton in the Peter Lake Domain. Forum has now staked a 30 km by 15 km area of historic copper- nickel- platinum group metal showings which returned up to 0.31% Cu over 5.2m in a trench, with visible sulphides occurring in outcrop along a 1.5km east-west trend of “reef type” layered intrusive that was not properly tested by historical drilling. Grab samples in Trench #4 in the Korvin Lake area returned 0.33% Cu, 1.33% Ni, 2735 ppb platinum, 2685 ppb palladium, 70 ppb gold and 0.43% Cu, 0.23% Ni, 3580 ppb platinum, 4275 ppb palladium, 200 ppb gold. (Saskatchewan Geological Survey – Maxeiner and Rayner, 2005).

Two drill holes on the project returned 31.7m of 0.23% Cu and 36.6m of 0.29% Cu.

Size:

12 claims totaling 30,836 ha.

Location & Infrastructure:

The project is located along Highway 905 to the Rabbit Lake/McClean Lake mine sites, approximately 60 km northeast of Forum’s Janice Lake/Rio Tinto copper joint venture in north-eastern Saskatchewan.

Regional Significance:

Substantial regional scientific research suggests a re-evaluation of the property utilizing a new exploration approach to determine the palladium potential is required.

Significant Comparable Deposits:

Comparable geological environment to North American Palladium’s Lac Des Isle deposit in Ontario northwest of Thunder Bay.

Outlook:

2019: summer exploration mapped outcrops along the road, finding numerous breccias and layered units. A day was spent at the historic trenches, mapping and collecting numerous samples. The samples were collected for geochemistry and processed at TSL laboratories in Saskatoon.
2020: a high-resolution airborne magnetometer survey was completed in early August, covering approximately 3,500 line km using a 100 metre line spacing. This survey identified three main areas of interest; West Road, Korvin Lake and What Lake. A mapping, outcrop sampling and soil sampling program was completed over these areas by early September and assay results have been returned. The results have been processed and interpreted by Dr. L Hulbert and permitting is underway for an airborne EM survey over the three targets, followed by a site specific ground EM survey and then a diamond drill program in the late spring/early summer.

-QUARTZ GULCH COBALT EXPORATION PROJECT:

Ownership:

100%

Stage:

Noranda, a previous explorer of the Idaho Cobalt Belt completed a regional geological and stream sediment sampling study in the late 1970’s/early 1980’s establishing the Quartz Gulch property as prospective for stratabound cobalt mineralization and cobalt hosted in quartz-tourmaline breccias. Noranda recognized Quartz Gulch as a priority exploration target for finding future reserves for its Blackbird Mine but the property was never drilled.

Size:

127 claims totaling 10.65 square kilometres.

Location &
Infrastructure:

The Idaho Cobalt Belt has highly developed infrastructure and the Quartz Gulch property is easily accessed via the main road to the past producing Blackbird mine.

Regional
Significance:

The only permitted cobalt mine under development in North America is found in the Idaho Cobalt Belt. With more than 60% of the world’s cobalt supply coming from the Democratic Republic of Congo in central Africa, the Idaho Cobalt Belt is expected to emerge as a significant source of domestically produced cobalt to supply the emerging electric vehicle market.

Significant
Comparable
Deposits:

Quartz Gulch is located approximately 5 kms to the southeast of the past producing Blackbird cobalt mine (Noranda) and the eCobalt Solutions Idaho Cobalt Project, the only permitted cobalt mine under development in North America.

Outlook:

Prospecting, mapping and soil sampling is expected to begin during the fourth quarter of 2018.

-FIR ISLAND:

Ownership:

Orano Canada Inc. option: Orano can earn a 51% interest by spending $3,000,000 on or before December 31, 2021 and can earn 70% interest by spending an additional $3,000,000 for a total of $6,000,000 on or before December 31, 2023.

Stage:

Highly Prospective; Drill Ready.

Size:

20,463 Ha,

Location &
Infrastructure:

Fir Island is located approximately 5km northeast of the community of Black Lake, on the northeast edge of the Athabasca Basin. It is connected by an all-weather road to the provincial highway system, which also provides year-round road access to the Rabbit Lake and McClean Lake mills. The property can be accessed by truck in the winter and by boat in the summer.

Regional
Significance:

The regionally important Black Lake fault, part of the major Snowbird Tectonic Zone, transects the entire Athabasca Basin, and is highly prospective for unconformity-type uranium deposits. Cameco’s Centennial deposit is located along this Zone near the south side of the Athabasca Basin. The sandstone cover on the Fir Island project varies from 0 to 200m above the unconformity. The possibility of uranium mineralization below the unconformity at the base of the thrust fault (similar to McArthur River) or in the hanging wall of the Cathy Fault in the basement (similar to Millennium or Eagle Point) demonstrates the highly prospective nature of the Fir Island project.

Proximity to
significant
deposits:

The historic Nisto uranium mine (96 tonnes mined at 1.38% in the late 1950s) occurs in basement rocks on the northwest side of the Black Lake fault, directly adjacent to the property. The project is within driving distance of the McClean Lake mill, operated by Orano Canada Ltd.

Outlook:

Forum will be the exploration operator until such time as Orano has earned a 51% interest in the project.

Work Programs for 2021:

The Company completed a resistivity survey in late 2019 and used the results to guide a 6-hole, 2,000 metre drill program in early 2020. A much larger drill program of 24 holes for 6,000 metres is planned for early 2021. This program will be 100% funded by Orano Canada Ltd.

Historical Work:

Forum completed a 10 hole reconnaissance drill program totaling 2,435m in early 2015, the first drill holes completed on this project. Drill hole FI-03 intersected 35m of 0.3% nickel from 180m to 215m in the basement lithologies. Drill hole FI-04 intersected up to 386ppm U in clay-rich basement lithologies immediately beneath the unconformity at 140m, and then 17m of enriched boron (up to 2810ppm) from 148m to 165m depth.
Five holes were competed on two fences 50m apart ( See Target H on Figure 2) and intersected a very interesting area of tectonization, quartz dissolution, and a 50m offset in the unconformity along a NE trending thrust fault (Cathy Fault -See Figure 3). Dravite and sudoite clays were found in both the sandstone and basement lithologies, along with locally elevated geochemistry (U, Pb, B). Hole FI-8, drilled near the East Channel Structure, returned values of 137 and 161ppm U respectively, below a section of 16m of 2750ppm B, all within pegmatites starting at depth of 202m to the unconformity.
Ground gravity surveys over the west channel (2015) and on the island (2016) have been completed. This was followed by a soil sampling program looking for anomalous indicator elements down-ice from the gravity lows. Very anomalous boron values were returned from several of the lows (Figure 2).
In 2019 a resistivity survey was completed over the East Channel (located on the island) and showed a strong low interpreted to be due to alteration / tectonics on the north-west side (Figure 5).
A 6-hole diamond drill program in 2020 completed one fence approximately 1km south of the 2015 drilling. The Cathy Fault was once again intersected, along with elevated geochemistry, strong alteration and tectonics and a 40m offset in the unconformity. The program was unfortunately cut short due to the Covid-19 situation, but a much larger drill program is planned for the winter of 2021.

-KEY LAKE ROAD:

Forum’s Key Lake Road project comprises two separate properties: Highrock and Costigan. The properties are located south of Cameco’s Key Lake deposits, and are underlain by rocks that host all the known uranium deposits in the eastern Athabasca Basin. The two projects host the graphitic conductor that hosts the Key Lake deposits, with Costigan hosting the west side of the conductor, and Highrock the east side. Targets along the conductor are determined by cross-cutting structures and gravity lows that may signify alteration. Both projects lie just to the south of the Athabasca sandstone limit, so the target is basement-hosted uranium mineralization.

-HIGHROCK:

Ownership:

100%

Stage:

Highly Prospective; Drill Ready.

Size:

4,498 Ha.

Location &
Infrastructure:

Regional infrastructure to the properties is excellent with nearby year-round road access, readily available power and close proximity to Cameco’s Key Lake uranium processing facility.

Regional
Significance:

These projects cover the southern extension of the graphitic conductive unit that hosts the Key Lake deposits.

Proximity to
significant
deposits:

Cameco’s former producing Key Lake mine, which extracted over 200 million pounds of uranium by open pit methods at an average grade of 2.3% U3O8 from 1983 to 1997, is located immediately to the north of the Highrock claim boundary.

Outlook:

Forum is targeting basement-hosted unconformity uranium, similar to Eagle Point in the Rabbit Lake camp and Arrow in the Patterson Lake corridor, which can extend down to 900m below the unconformity. The P-Patch, a basement hosted uranium deposit discovered by Forum’s Ken Wheatley, while with Uranerz in 1997, is present 10km to the north of Cameco’s Key Lake project. Last year, drilling encountered elevated levels of uranium, boron, vanadium and base metals along the 10km long graphitic conductor. It is the presence of these pathfinder minerals that potentially may lead to a similar basement-hosted uranium discovery in the vicinity.

Work Program for 2019:

Future work has been deferred until market conditions improve.

Historical Work:

A narrow ground gravity survey was completed over the immediate conductor area on the project, followed by an eight hole diamond drill program in 2016. The graphitic conductor was intersected in seven of the eight holes, with the strongest tectonics and alteration located in HR-07, the furtherest south of the program. A further 3 km of untested conductor lies to the south of this hole.
Another ground gravity survey was completed in 2017 and identified several new areas of interest at the north end of the property, closest to the Key Lake deposits. The results of the 100m X 100m station density survey show several new gravity lows, interpreted to be caused by clay alteration systems that may be associated with uranium mineralization. An exceptionally large gravity low coupled with the significant 4 km north-south EM conductor on the north end of the property near the Cameco/Orano Key Lake property boundary remain untested.

-COSTIGAN:

Ownership:

Forum 65%; Privco 35%

Stage:

Highly Prospective; Drill Ready.

Size:

730 Ha.

Location &
Infrastructure:

Regional infrastructure to the properties is good with nearby year-round road access (Highway 914 to Key Lake is 5km away), readily available power nearby, and close proximity to Cameco’s Key Lake uranium processing facility.

Regional
Significance:

This project covers the southwestern extension of the graphitic conductive unit that hosts the Key Lake deposits.

Proximity to
significant
deposits:

Cameco’s former producing Key Lake mine, which extracted over 200 million pounds of uranium by open pit methods at an average grade of 2.3% U3O8 from 1983 to 1997, is located nearby to the north of the Costigan property.

Outlook:

Exploration focus is on discovering basement-hosted type uranium deposits similar to Millennium, Eagle Point, Sue C, Triple R, Roughrider, and Arrow, which can extend down to 900m below the unconformity.

Proposed Work Programs for 2019:

Future work has been deferred until market conditions improve.

Historical Work:

The project is drill ready having EM and gravity surveys completed over the entire property. The project is in good standing until 2029.

-HENDAY:

Ownership:

Forum 40% - Rio Tinto 60% (Operator)

Stage:

Highly Prospective; Drill Ready.

Size:

7,204 Ha.

Location &
Infrastructure:

Henday is located in the northeastern margin of the Athabasca Basin near the past producing McClean Lake projects, where five out of nine known uranium deposits were mined by AREVA/ Denison from 1997-2008. Access is by both winter roads or trails connected to Provincial Highway 905 and by air to the community of Points North Landing, located approximately 30km south of the Property.

Regional
Significance:

The mineralized zones in the McClean trend occur as pods that straddle the unconformity between the Athabasca sandstones and the crystalline basement at an average depth of 160m below the surface. The nearby Roughrider deposit is a basement rock hosted discovery made in 2008, and later acquired by Rio Tinto in 2012.

Proximity to
significant
deposits:

Strategically located northeast of the Denison/AREVA Midwest and McClean Lake deposits, Rio Tinto’s Roughrider deposit, AREVA/Denison’s McClean Lake mill, which is currently processing high grade uranium ores from Cameco’s Cigar Lake mine is situated to the southeast.

Outlook:

The Forum/Rio Tinto Joint Venture has identified several high potential geologic targets. Three target areas known as Hollow, Epitaph, and Elephant, were partially drill tested in 2016 and require follow-up work.

Proposed Work Programs for 2019:

A final report from Rio Tinto including a geochemical, radiometric, and geological interpretation of the drill results and a subsequent 81 line km DCIP resistivity survey is forthcoming, in addition to recommendations for follow-up exploration.

-CLEARWATER:

Ownership:

Forum 75% / Vanadian Energy Corp. 25%

Stage:

Highly Prospective; Drill Ready.

Size:

9,912 Ha.

Location &
Infrastructure:

The Clearwater Project is located on the southwestern edge of the Athabasca Basin in northern Saskatchewan. The area is accessible from Provincial Highway 955, which is an all-weather road.

Regional
Significance:

The Clearwater project is on trend to the southwest of NexGen’s Arrow deposit and Fission Uranium’s Triple R deposit. Extensive exploration and development is continuing on both of these projects.

Proximity to
significant
deposits:

Forum’s claims adjoin Fission’s Patterson Lake South claims on the southwest boundary, also known as “PLS”. PLS hosts the Triple R deposit, which was discovered in 2012, NexGen’s Arrow deposit is on trend to the northeast of PLS, and UEX’s Shea Creek and the past producing Cluff Lake mine are to the north.

Outlook:

NexGen’s Arrow discovery and Fission’s Triple R discovery are the two most exciting uranium finds in decades. Forum responded quickly by staking its ground immediately adjacent and to the southwest of Fission’s PLS property in 2012. Forum is targeting similar shallow, basement-hosted, uranium deposits. Fission Uranium continues to discover mineralization west of its Triple R deposit, closer to the Clearwater property boundary.

Proposed Work Programs for 2019:

Forum will evaluate its next steps for advancement of this drill ready project, including potential joint venture.

Historical Work:

Very little work had been completed in the area until Forum began exploring in 2013, and later with its partner Uracan.
Prospecting, soil and lake radon surveys, lake sediment sampling, ground gravity, airborne EM, Mag and radiometric, ground EM surveys completed 2013-14
A nine-hole drill program was completed in November of 2016 that tested the Key and Mongo target areas. A ground EM survey conducted at the same time identified several new EM conductors that have yet to be followed up. One drill hole targeting a structurally complex area just south of Mongo Lake intersected 6.5 m grading 4.54% zinc. Follow-up work is required to identify the host lithology and structure.

-NORTHWEST ATHABASCA JOINT VENTURE:

Ownership:

Forum 39.25%; NexGen 28.25%; Cameco 20%: Orano 12.5%

Stage:

Historical resource; numerous showings, highly prospective for finding additional high-grade mineralization. Drill and fuel is on site, waiting for market conditions to improve.

Size:

10,161 HA, and includes the Maurice Bay deposit.

Location &
Infrastructure:

The Maurice Bay area of Lake Athabasca is located immediately east of the Alberta-Saskatchewan provincial boundary, and is 75 km west of Uranium City. It is accessible by float or ski-equipped aircraft, barge or boat from Lake Athabasca, and by winter road across the ice on Lake Athabasca.

Regional Significance:

The project has been explored since 1970 with the discovery of numerous radioactive boulder trains. One of the largest trains was followed to its source leading to the discovery of the Maurice Bay deposit in 1976. Numerous shallow targets for basement and sandstone-hosted unconformity style mineralization are under-explored or untested, which further demonstrates a high potential for discovering high-grade deposits.

Proximity to
significant
deposits:

Property includes the Includes the Maurice Bay deposit, which was discovered in 1976. It contains a historical resource estimate of 1.5 million pounds grading 0.6% U3O8 to a depth of 50 m*. (Saskatchewan Industry and Resources, Miscellaneous Report 2003-7).

Outlook:

Numerous untested gravity and structural targets with EM conductors are present, along with several radioactive boulder trains with no identified source. The shallow sandstone cover and existing widespread mineralization continue to make this a highly prospective project.

Historical Work:

From 2003 to 2007, Cameco conducted a series of airborne and ground geophysical surveys, culminating in a 10-hole diamond drill program in 2008
Forum Energy Metals became the operator of the project in 2011 and conducted a ground gravity survey on the central part of the project.
Diamond drill programs were completed during the period 2012-15, which resulted in new basement-hosted uranium discoveries named Opie, Barney and Otis West. An intersection of 0.152% U3O8 over 39.5 m was noted in NWA-63 at a downhole depth from 130.5 to 170m.
In 2017 a soil/till sampling program to investigate potential boron anomalies down-ice of the gravity targets for prioritizing new targets for future drilling was completed. The basement-hosted mineralized zones of Otis, Barney and Opie all had strong boron signatures in the sandstones overlying the showings. Project is currently on hold.

-MAURICE POINT:

Ownership:

100%

Stage:

Highly Prospective; Drill Ready.

Size:

Four claims for 5,797 Ha along the northwest edge of the Athabasca Basin.

Location &
Infrastructure:

The Maurice Bay area of Lake Athabasca is located immediately east of the Alberta-Saskatchewan provincial boundary, and is 75 km west of Uranium City. It is accessible by float or ski-equipped aircraft, barge or boat from Stony Rapids or Fort Chipewyan on Lake Athabasca, and by winter road across the Lake Athabasca ice.

Regional
Significance:

The Maurice Point Project covers the extensions of basement structures containing the Maurice Bay mineralization and the favorable Athabasca unconformity. The shallow Athabasca sandstone varies from surface to 250m depth.

Proximity to
significant
deposits:

Adjacent to the historic Maurice Bay deposit, which is part of the NW Athabasca Joint Venture , held by Forum, and its partners: NexGen, Cameco , and AREVA (now Orano).

Outlook:

Forum is primarily targeting unconformity type uranium deposits similar to the nearby Maurice Bay deposit and the Cluff Lake/Shea Creek deposits (>100 million lbs.), also located on the west side of the basin, as well as basement-hosted deposits.

Work Programs for 2019:

A number of drill targets have been identified, but future work has been deferred until market conditions improve.

Historical Work:

A soil sampling program located down-ice from land based gravity lows was completed during the 2017 summer field season. The soil sampling program tested for boron anomalies that may be associated with the numerous gravity lows. A number of drill targets have been identified, but further exploration will have to wait until market conditions improve: the project is currently on hold.


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