Forum acquires Fisher Copper Claims, Saskatchewan
Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.
Vancouver, British Columbia–(Newsfile Corp. – October 11, 2022) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (“Forum” or “the Company”) is pleased to announce that it has acquired certain mineral claims (the “claims”) in Saskatchewan from Big Ridge Gold Corp. (“Big Ridge”) in consideration for the issuance of 100,000 shares of the Company to Big Ridge and a 1% net smelter royalty interest on the claims, half (0.5%) of which may be purchased by the company for $500,000. The shares are subject to a hold period of four months.
The Fisher property is located 40 km west of Pelican Narrows, Saskatchewan, in an assemblage of volcanic arc and associated sedimentary rocks of the Glennie domain. The property hosts a stratabound volcanogenic massive sulphide deposit measuring 650,000 tonnes grading 0.5% copper and 3.0% zinc.* Forum’s geological team has identified additional targets for extension of mineralization and will conduct a prospecting and sampling program this month.
Richard Mazur, P.Geo., President and Chief Executive Officer of Forum and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this press release.
* An estimate of historical resources which has not been calculated or classified according to the specifications of National Instrument 43-101 and which should not be relied upon.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metallurgical 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 land position in Idaho’s cobalt belt. For more information: https://www.forumenergymetals.com/
This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in these statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: historical data uncertainties, work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic or financial market conditions; changes in commodity prices, litigation, legislative, environmental and other legal, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain the permits required to maintain or advance its exploration projects.
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]
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140036
