Forum Uranium Set to Acquire Fir Island Property in the Athabasca Basin

Forum Uranium Corp. (TSXV:FDC) entered into a Purchase and Sale Agreement with Anthem Resources Ltd. to for a 100% interest in the Fir Island on the northeast margin of the Athabasca Basin in Saskatchewan.

As quoted in the press release:

Under the terms of the Agreement, Forum will acquire a 100% interest for 300,000 common shares and a 1.5% Net Smelter Royalty with a 1% buyback provision for $1 million.

Highlights of the Fir Island Project:

  • Highly prospective near-drill ready project with shallow uranium targets identified by a number of geophysical and geochemical surveys conducted by Anthem
  • Property lies directly on a major structure: the Black Lake Shear Zone (BLSZ) immediately adjacent to the Nisto mine (96 tonnes mined at 1.38% U), evidence that the BLSZ is fertile
  • Shallow to no sandstone cover; road access within 2 km

Click here to read the Forum Uranium Corp. (TSXV:FDC) press release
Click here to see the Forum Uranium Corp. (TSXV:FDC) profile.