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Be the first with the news that moves the market- Forum Energy Metals’ (TSXV:FMC) exploration partner Rio Tinto has begun exploration at Janice Lake Project in Saskatchewan
- Rio Tinto has started constructing a 50-person exploration camp on the Janice Lake Property, which will provide better access for a future diamond drilling program
- Furthermore, an eight-person team has begun mapping and prospecting at two-kilometre line spacings across the 52-kilometre property
- Rio will also use induced polarisation surveys and vegetation and soil surveys to determine notable signatures to determine other deposits on the property
- Forum Energy (FMC) is down 11 per cent and is trading at C$0.08 per share
Forum Energy Metals’ (TSXV:FMC) exploration partner Rio Tinto has begun exploration at Janice Lake Project in Saskatchewan.
The property is prospective for copper and silver and was optioned to Rio Tinto’s Canadian subsidiary Rio Tinto Exploration Canada in 2019.
Rio can acquire up to 80 per cent of the project if it meets certain conditions within the option agreement.
Rio Tinto has started constructing a 50-person exploration camp on the Janice Lake Property, which will provide better access for a future diamond drilling program.
An eight-person team has begun mapping and prospecting at two-kilometre line spacings across the 52-kilometre property. Follow up mapping work and prospecting will be conducted on areas identified during the survey.
A further program of geophysical and geochemical orientation surveys is scheduled for the site, which will focus on targets drilled last summer.
Rio will use induced polarisation surveys and vegetation and soil surveys to determine notable signatures to determine other deposits on the property. Rio Tinto is also acquiring permits to begin using a Rotary Air Blast drill rig on the property.
Rick Mazur, the President and CEO of Forum Energy Metals said he was looking forward to the coming summer’s exploration work.
“We have barely scratched the surface on exploring this sedimentary basin which stretches for over 50 kilometres.
“Rio Tinto’s focus will not only be on finding higher grade and thicker open pit strata-bound horizons, but also high grade structurally controlled mineralization,” he said.
Forum Energy Metals (FMC) is down 11 per cent and is trading at C$0.08 per share at 2:35 pm EDT.
