|By Marketwired .||
|May 1, 2014 06:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/14 -- Forum Uranium Corp. (TSX VENTURE:FDC) announces it has completed its 2014 winter drill program at the Northwest Athabasca JV project (NWA JV). A total of 2,911 metres (m) in 13 holes on 5 separate targets were completed. Drilling has confirmed historic high grade mineralization drilled by previous operators at the Maurice Bay deposit(i) by intersecting "off-scale" radioactivity.
Three of the five exploration targets: Otis West, Zone A and Maurice Bay East returned positive results. Drilling at Otis West has extended the mineralized strike length to 70m from 50m and remains open to the east. These latest results from the NWA JV project will be reviewed with Forum's joint venture partners with the intent of planning a follow-up drill program.
Maurice Bay Deposit & Basement Targets
Two holes (see Figure 1) were drilled to test for possible deep mineralization within the basement rock beneath the historic mineralization at the Maurice Bay deposit, with one of the holes transecting the historic mineralization. Hole NWA-72 returned 1.4m of "off-scale" radioactivity in a mineralized zone totaling 5m within Athabasca sandstone in the Main Zone of the Maurice Bay Deposit. Radioactivity also extended 4.5m down into the basement for a total zone of 9.5m of mineralization, but no additional mineralization was identified at depth.
Three drill holes completed at Otis West have extended the mineralized strike length to 70m from 50m. Mineralization, which is hosted in the basement rocks, remains open to the east.
-- Hole NWA-73 returned approximately 30m of anomalous values from 143 to 175m with a peak of 1,400cps in a section of heavy core loss. The down- hole probe further identified radioactivity measurements of up to 11,500cps in a radioactive zone over 1.5m, which suggests that final assays may not be representative due to the extensive core loss. Targeted drilling near Hole NWA-73 will be required to thoroughly test this area for mineralization. -- Hole NWA-74 returned approximately 70m of anomalous values from 150 to 220m with a peak of 4,500cps, also in an area of heavy core loss. -- Hole NWA-75 tested the interpreted down-dip extension of NWA-74 and also intersected the fault zone but with only weakly elevated radiometrics over a 70m interval from 150m to 220m.
Further drilling will be required to test the Otis West target, which extends for 400m as a strong gravity low, along the Otis fault which runs parallel to the Maurice Bay fault.
Three holes were drilled in the Zone A area, testing the interpreted south and north strike extensions of uranium mineralization grading 1.34% U3O8 over 3m at a depth of 90m encountered in 2013. Hole NWA-77, located 15m to the north intersected elevated radiometrics in three separate sections in the overlying sandstone including immediately above the unconformity at 70.6m depth. A brecciated quartz-rich zone in basement rocks returned up to 1,600cps at 78.6m and 600cps at 82.5m. Zone A remains of interest, as nearby historic drilling in the basement returned grades of up to 6m of 5.65% U3O8 at a greater depth beginning at 115m.
Maurice Bay East
One hole, NWA-79, was drilled in the Maurice Bay East gravity target. It returned large sections of chloritized and quartz dissolved sandstones from 52m down to the unconformity at 138m with weakly elevated radiometrics at 104 to 117m with a peak of 250cps at 113.5m and in the basement lithologies at 159.5 to 162m (200cps). Further evaluation of this area is warranted to identify follow-up drill targets.
Three holes were drilled on the Otis East gravity target. These holes returned strongly altered sandstones and basement lithologies and brecciation, but no significant uranium mineralization was intersected.
Quality Assurance/Quality Control
The reader is cautioned that natural gamma radiation in drill core as reported in this news release and measured in counts per second (cps) using a total count gamma-ray scintillometer are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. Core samples have been sent to the Saskatchewan Research Council for assaying and results are expected in June. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by Ken Wheatley, P. Geo. (Saskatchewan and Nunavut), Vice President, Exploration for Forum Uranium Corp., a Qualified Person under NI 43-101
Maurice Bay Deposit(i)
A 1.5 million pound historical uranium resource (600 tonnes grading 0.6% U3O8) for the Maurice Bay deposit, is reported by Saskatchewan Industry and Resources, Miscellaneous Report 2003-7. The Maurice Bay historical resource estimate was completed prior to the implementation of National Instrument 43-101. Given the extensive exploration work completed by experienced mineral resource companies, and the quality of the historical work completed, the Company believes the historical estimate to be relevant and reliable. However, a qualified person has not completed sufficient work to verify and classify the historical estimate as a current mineral resource, and the Company is not treating the historical estimate as a current mineral resource. Hence, the estimate should not be relied upon. It should be noted that mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
Northwest Athabasca Joint Venture Project
The NWA JV project is a joint venture held 64% jointly by Forum and NexGen Energy Ltd. Forum is Operator of the joint venture with 23.5% partner Cameco Corporation and 12.5% partner AREVA Resources Canada Inc. Forum and AREVA only participated in this winter drill program and the joint venture is subject to dilution provisions.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/FDC0430.pdf
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 20, 2014 11:00 PM EST Reads: 1,266
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Dec. 20, 2014 11:00 PM EST Reads: 1,174
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 20, 2014 12:00 PM EST Reads: 1,947
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 20, 2014 11:30 AM EST Reads: 2,384
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 20, 2014 11:00 AM EST Reads: 1,973
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 20, 2014 11:00 AM EST Reads: 2,284
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 20, 2014 10:45 AM EST Reads: 2,241
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 20, 2014 10:00 AM EST Reads: 2,025
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 20, 2014 10:00 AM EST Reads: 1,776
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 20, 2014 09:00 AM EST Reads: 1,955
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
Dec. 20, 2014 09:00 AM EST Reads: 987
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 20, 2014 08:00 AM EST Reads: 1,310
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
Dec. 20, 2014 07:00 AM EST Reads: 2,115
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Dec. 20, 2014 07:00 AM EST Reads: 1,889