Forum Energy Metals (TSXV:FMC,OTCQB:FDCFF) President and CEO Richard Mazur and Vice President of Exploration Dr. Rebecca Hunter believe the company’s Nunavut uranium project in the Thelon Basin hosts deposits similar to what can be found in the Athabasca Basin.
“The Thelon Basin is a large sandstone basin, just like the Athabasca, so more or less it’s the same type, and it’s also the same age — 1.7 billion years old. And they overlie … the basement rocks, underneath the sandstone basin; they’re of similar age too, and character,” Dr. Hunter explained.
“And the largest and the most important similarity is that you have these large fault zones, and it’s the fault zones that channel the fluids and precipitate uranium, and the Thelon Basin has very similar structures that the Athabasca does.”
The company is embarking on a drilling campaign at the Nunavut project following a recent C$2 million non-brokered private placement financing.
Mazur said the Thelon Basin is one of three basins in the world with an economic uranium deposit. “We believe that this project up in Nunavut in the Thelon Basin can be a transformative project for the company … all we have to do is get in there and drill it. But we feel very confident that there are some very big uranium deposits to be found in Nunavut on our Thelon project.”
Watch the full interview above with Richard Mazur, president and CEO of Forum Energy Metals, and Dr. Rebecca Hunter, vice president of exploration.
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