Vancouver, B.C., September 9, 2020. Forum Energy Metals Corp. (FMC: TSX-V) is pleased to announce that it has completed a high resolution airborne magnetic survey over its 100% owned Love Lake Nickel-Copper-PGM project, located approximately 60 km northeast of Forum’s Janice Lake/Rio Tinto copper joint venture in Saskatchewan along Highway 905 to the Rabbit Lake/McClean Lake process facilities. Forum has identified two target areas that are prospective for magmatic nickel-copper-palladium-platinum deposits, in addition to the historical What Lake occurrences.
A total of 4,412 line kilometres were flown with the SHA Geophysics Heli-GT magnetic/gradiometric system over the 20km by 5km Love Lake Complex (LLC). Magnetic Susceptibility Inversions have identified two new areas of deep-rooted magnetic targets as potential feeder zones for magmatic nickel-copper-PGM deposits. Figure 1 illustrates the two new targets - the Road Anomaly and the Korvin Anomaly and the historic What Lake Anomaly.
- The Road Anomaly occurs at the western end of the LLC and is easily accessible, transected by Highway 905. This anomaly is striking both in magnetic intensity and form. This feature is believed to represent a deformed funnel-shaped intrusion, and the magnetic anomaly is associated with its deep-rooted magmatic feeder. Magnetic inversions suggest that the Road Anomaly is made up of a strongly magnetic core that plunges steeply to the east and has the greatest depth extent of all the magnetic bodies within the LLC.
- The Korvin Anomaly is located 4 km to the southwest of the What Lake trench area. Historic drilling in this area has intersected 31.7m grading 0.23% copper and 36.6m grading 0.29% copper.
- The What Lake Anomaly reports grab samples from trenches grading 1.33% nickel, 0.33% copper, 2.68 g/t palladium and 2.73 g/t platinum. Forum’s initial examination of the What Lake area in 2019 returned anomalous platinum and palladium geochemistry.
Exploration has commenced with a focus on mapping, rock and soil sampling over the Road and Korvin anomalies. Once all data has been compiled from this program, identified drill targets will undergo an electromagnetic survey prior to drilling.
LOVE LAKE NICKEL-COPPER-PLATINUM-PALLADIUM-GOLD PROJECT
The Love Lake project covers 30,836 ha of mafic-intrusive rocks in the Peter Lake Domain with historic occurrences of nickel, copper, platinum, palladium and gold. The property is prospective for Nickel-Copper massive sulphide deposits in feeder zones (Voisey’s Bay, Julimar-Chalice Gold), Lac de Iles-type platinum/palladium deposits and reef-type platinum/palladium deposits. The Ni-Cu-PGM occurrences are associated with the Love Lake Complex, a gabbroic pluton within the 2.5 billion year old Swan River mafic complex in the Peter Lake Domain.
Figure 1: Total Magnetic Field The Love Lake Igneous Complex was flown on north – south lines at 100 metre line spacings. Field crews are investigating the Road Anomaly and the Korvin Anomaly.
Larry Hulbert, P.Geo., Forum’s Copper-Nickel-PGM Consultant and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
About Forum Energy Metals
Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, silver, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & 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 further information contact:
Rick Mazur, P.Geo., President & CEO
Burns Singh Tennent-Bhohi, Director