{"id":1149494,"date":"2019-11-13T08:20:13","date_gmt":"2019-11-13T14:20:13","guid":{"rendered":"https:\/\/www.mining.com\/?p=1006535"},"modified":"2019-11-13T08:20:13","modified_gmt":"2019-11-13T14:20:13","slug":"forum-to-sell-interest-in-fir-island-project-to-orano","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1149494","title":{"rendered":"Forum to sell interest in Fir Island project to Orano"},"content":{"rendered":"<p>Forum Energy Metals (TSXV: FMC) reached an agreement with Orano Canada whereby it will grant to Orano a series of options to acquire up to a 70% interest in the Fir Island project in Saskatchewan, Canada.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In a press release, the firms explained that Orano has to spend $6 million on the property on or before December 31, 2023, to earn the full 70% Interest. Prior to this, the buyer can earn a 51% interest by spending $3 million by the end of 2021.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The Black Lake fault, part of the Snowbird Tectonic Zone, transect the entire Athabasca Basin and is prospective for unconformity-type uranium deposits<\/p>\n<\/blockquote>\n<\/figure>\n<p>The Fir Island project lies along the northern rim of the Athabasca Basin, overlying the Snowbird Tectonic Zone, a major structural corridor which, near the southern rim of the basin, hosts Cameco&#8217;s Centennial deposit.&nbsp;<\/p>\n<p>Back in 2015, Forum completed 10 holes for a total of 2,453 metres of drilling, testing the Snowbird fault and the parallel East Channel fault.<\/p>\n<p>According to the Vancouver-based miner, anomalous uranium (up to 444ppm over 10.6 metres in sandstone in hole FI-03), boron (up to 717ppm over 10 metres in sandstone in hole FI-08) and base metals (cobalt up to 0.48% over 63.8 metres in FI-03) were intersected.&nbsp;<\/p>\n<p>&#8220;Strong quartz dissolution and remobilization, tectonization in the sandstone, dravite and sudoite clays locally in both sandstone and basement rocks, and a 50-metre off-set in the unconformity were intersected; all excellent indicators of nearby uranium mineralization,&#8221; the media brief reads.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The subsidiary of French nuclear energy company Orano wants to acquire a 70% interest in the uranium project.<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1035,369],"tags":[],"class_list":["post-1149494","post","type-post","status-publish","format-standard","hentry","category-energy","category-miningcom"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1149494"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149494\/revisions"}],"predecessor-version":[{"id":1149617,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149494\/revisions\/1149617"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1149494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1149494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1149494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}