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Introduction
The 100%-owned Henday Project consists of 3 claims covering 7,204 ha of the north-eastern margin of the Athabasca Basin, Saskatchewan. The property is strategically located along the north-east trend which hosts the Midwest Lake mine project (41.0M lbs. U3O8 at an average grade of 5.5%) currently slated for production in 2008 by AREVA Resources Canada and Denison Mines Corp., and the Midwest A Zone, where Denison Mines recently reported results of 10.5 meters grading 12.4% U3O8 to 22.6 meters grading 26.7% U3O8.
Geology
The Henday Project covers favorable basement rocks within the Mudjatik-Wollaston Tectonic Zone, a northeast trending structural zone on the eastern margin of the Basin along which the district's most productive uranium mines occur. Over 95% of known Canadian uranium deposits and all current uranium producing mines in Canada are located on this trend.
The Mudjatik-Wollaston Tectonic Zone is the NE trending high strain tectonic zone marking the boundary between the Archean gneisses and granitoids of the Mudjatik Domain to the west and Archean gneisses, metasediments, and pegmatite intrusions of the Wollaston domain to the east. Uranium mineralization on the Henday Project generally occurs within a Proterozoic, graphite-bearing suite of metapelite, pelite, calc-silicate and arkosic metasediments found within this high strain zone.
The Henday Project is targeting basement hosted, structurally and stratigraphically controlled uranium deposits such as Comeco's Millennium deposit (containing 47.2M lbs of U3O8 indicated and inferred) and the Eagle Point/Rabbit Lake deposit (containing 19.0M lbs of U3O8 proven and probable). These deposits generally contain structurally controlled veins, breccias and massive replacement-type mineralization. The mineralization on the Henday Property is shallow - the unconformity is at an average depth of 160 m, ranging from 125 m to 220 m.
Historical Work
Historical work on the Henday Project including mapping, trenching, sampling, drilling, and geophysics has outlined several mineralized zones including one drill intercept of 0.21% U3O8 over 4 m in the Athabasca sandstone at the unconformity, and 10 other holes have intersected anomalous uranium mineralization associated with electromagnetic conductive trends, strong clay alteration and anomalous geochemistry.
Previous ground electromagnetic surveys have outlined 8 conductive trends totaling 45 line kilometres on the property that identify prospective graphitic lithologies in basement rocks. Areva's Mallen lake showing lies to the south of the property where drill intercepts of 5.9% U3O8 over 0.3 m and 2.5% U3O8 over 0.3 m in basement rocks were encountered.
2008 Exploration Program
Results from 21 holes, totalling 4971 meters were reported in September 2008. Two of Forum's drill holes successfully identified an illitic alteration halo. The alteration halo extends both upwards into the sandstone and downwards into the basement for a total of 50m in thickness (115 to 155m). Uranium values up to 313 U ppm were intersected with associated Nickel, Boron, Lead and Copper. Anomalous geochemistry such as this may be indicative of a fertile hydrothermal system, and is a common feature around all the uranium deposits in this part of the Athabasca Basin. For complete results please see news release dated, Sept 8th, 2008. Work proposed for 2009 will include ground gravity surveys over the anomalous areas which proved effective in delineating Hathor's nearby Roughrider zone.
Maps
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