January 16, 2025

Forum Energy Metals – Next Batch Of 2024 Drill Results Released Stepping Out And Expanding the Mineralized Footprint At The Tatiggaq Deposit

16 minutes

Dr. Rebecca Hunter, VP of Exploration at Forum Energy Metals (TSX.V:FMC – OTCQB:FDCFF), joins me to unpack the next batch of 8 more drill holes released from the 2024 exploration program to the market on January 13th, stepping out from the Tatiggaq deposit on their 100% owned Aberdeen Uranium Project in Nunavut, Canada. This compliments and expands the prior release of 11 holes drilled into the Tatiggaq Main and Tatiggaq West areas in last year’s drill program. We also review the upcoming holes still to release from last year’s exploration program from highly prospective regional targets, like Qavvik, Ned, Ayra, and Loki. There are still 11 of the 30 holes from the 2024 exploration program yet to release to the market.

Rebecca outlines that these eight drill holes for the Tatiggaq anomaly were designed to test sub-parallel structures within the Tatiggaq gravity anomaly at significant step out intervals, demonstrating the large- scale potential of the project with the identification of a potential new zone 300 meters north of the Main Tatiggaq deposit. Drillhole TAT24-021 intersected 0.79% U3O8 over 0.1 m in a strong alteration zone with significant geochemical pathfinder elements at a depth of 221 meters. This mineralized structure is along the D-Fault, where the Tatiggaq Main and West are along the C-Fault. She points out that there are even further potential sub-parallel structures of interest at the E-Fault and A-Fault.

Next, we discuss how the 2 prior year’s drill results will likely be combined with relogging of historic drill holes completed by Cameco working towards the delineation of a Maiden Resource Estimate at Tatiggaq in the future. This mineralization in the basement hosted rock is similar in nature to the 133 million pound Kiggavik uranium project held by Orano/Denison/UEC, located about five kilometers to the west of the Tatiggaq deposit.

We wrap up discussing some of the other regional targets like the basement-hosted Qavvik deposit, where a couple of holes were drilled last year, expanding the knowledge around this areas that also received around 2 dozen historic holes by Cameco. Those results are still pending release. Additionally, there are drill holes still to release from the Ned, Ayra, and Loki targets, with the goal of testing and exploring for the higher-grade unconformity style of deposits; similar to what is found in the Athabasca Basin.

If you have any follow up questions for Rebecca or the team at Forum Energy Metals, then please email them into me at [email protected].

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