GEOPHYSICAL SURVEY IDENTIFIES URANIUM TARGETS ON FORUM'S SASKATCHEWAN PROJECTS - KEY LAKE ROAD AND ORCHID LAKE
Date: Mon, 6 Mar 2006 05:15:36 -0800
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Re: News Releases - Monday, March 06, 2006
GEOPHYSICAL SURVEY IDENTIFIES URANIUM TARGETS ON FORUM'S
SASKATCHEWAN PROJECTS - KEY LAKE ROAD AND ORCHID LAKE
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Vancouver, B.C. March 6, 2006. Forum Development Corp. (FDC: TSX-V) is
pleased to announce that it has received the final results and
technical interpretation of its VTEM airborne geophysical survey
conducted over three specific target areas within the Key Lake Road
property and the newly acquired Orchid Lake property. Highlights of
Geotech Ltd.'s 1,940 line kilometre (km), high-resolution, time-domain
electromagnetic (EM) and aeromagnetic survey include:
. Numerous anomalies favourable for uranium mineralization have been
identified through interpretation and evaluation of geological
structures, magnetic anomalies and over 150 km of shallow EM conductors
within the survey area.
. Up to six sub-parallel conductive trends, in proximity to known
uranium mineralization, have been traced over a 40 km long by 3 - 5 km
wide structural corridor associated with the northeast trending Key
Lake Road Shear Zone on the Key Lake Road Property. Furthermore, thrust
fault components within the Key Lake Road structural corridor are seen
as high priority exploration targets for basement-hosted uranium
mineralization similar to Cameco's 46 million pound Millennium deposit
grading 4.63% U3O8.
. A 2 km, ENE trending, strong EM conductor coincident with an ENE
magnetic low on the Orchid Lake property is interpreted as the southern
limb of tightly folded and dislocated Wollaston metasediments. In
addition, a further 10 km long, arcuate, east-west to northeast
trending weak, graphitic basement type conductor was delineated at the
boundary between granite and metasediments.
Key Lake Road Property
Forum's Key Lake Road Project encompasses 107,988 hectares (ha) and is
located approximately 25 km south of the Key Lake Mine/Mill complex,
the processing facility for uranium ore from Cameco's McArthur River
Mine. Forum's 2005 regional reconnaissance program was successful in
identifying two distinct zones (DD and Molly), where rock and soil
samples containing grades ranging from 0.1% to 5.31% U3O8 are
associated with the conductors confirmed by this survey.
Orchid Lake Property
The 5,272 ha Orchid Lake claim, located 20 km southwest of the Key Lake
Mine / Mill Complex, was staked by Forum based on a review of
historical exploration data and its strategic location in proximity to
the Key Lake Mine and Forum's Key Lake Road property. During the
1970-1980 period, Uranerz Exploration and Mining Ltd. carried out
exploration work and identified anomalous uranium in lake sediments
near Orchid Lake. Subsequent radiometric prospecting discovered
pegmatitic boulders with narrow bands of graphitic gneiss grading up to
0.1% U3O8. Forum's interpretation of the VTEM survey results from the
Orchid Lake property and knowledge of historical data have confirmed
the high prospectivity for uranium mineralization within this area.
The results of the survey were reviewed by Forum's geophysical
consultant, Phil Robertshaw, P. Geo. (Saskatchewan) of Robertshaw
Geophysics Ltd. whose report concluded, "The VTEM surveys have provided
high-quality aeromagnetic and EM data which will accelerate the
evaluation of the Key Lake Road and Orchid Lake properties." Mr.
Robertshaw is the Qualified Person supervising and evaluating the
Company's geophysical programs.
Forum Development Corp. is a Canadian-based energy company with a focus
on the acquisition, exploration and development of energy projects.
The Company has a 100% interest in over 165,000 hectares of uranium
exploration properties located in the prolific Athabasca Basin,
Saskatchewan. Forum is also evaluating a Coalbed Methane (CBM) project
in the Merritt Coalfield in southern British Columbia. For further
information about Forum, visit the Company's website at
www.forumdevelopmentcorp.com |
