Resource World Magazine

F E B R U A R Y / M A R C H 2 0 2 0 www.resourceworld.com 67 copper, 3.05% zinc, 0.19% lead, 0.44 g/t gold and 16.68 g/t silver, for 1.5 billion lbs zinc and 590 million lbs copper. Inferred Resources are now 11.15Mt grading 1.38% copper, 1.83% zinc, 0.10% lead, 0.47 g/t gold and 14.81 g/t silver, for 450 million lbs zinc and 340 million lbs copper. Forum Energy Metals Corp. [FMC- TSXV; FDCFF-OTC; F3E-FSE] has received final assays from the remaining 12 drill holes completed at the Jansem, Janice and Kaz targets within its Janice Lake sedi- mentary copper project. Forum recently reported drill results from Rio Tinto's first phase $3 million drill program at Janice Lake. Drilling successfully confirmed and extended near-surface stratabound chal- cocite and native copper mineralization at the Jansem and Janice drill targets. Grades as high as 1.09% copper over 9.1 metres and 1.32% copper over 5 metres within 51.8 metres grading 0.57% copper were intersected at Jansem. Deeper drilling fur- ther demonstrated the presence of multiple copper mineralized horizons requiring follow-up drilling. Rio Tinto Exploration Canada Inc. has advised Forum that permits to construct a 99-km winter access trail and installa- tion of a temporary 65-80 person capacity work camp to support drilling and mineral exploration at Forum's Janice Lake cop- per project in 2020 and 2021, has been granted by the Saskatchewan Ministry of Environment. Rio Tinto Canada has a four-year option with Forum to acquire a 51% interest in the Janice Lake Project by spending $10 million in exploration, making $490,000 in cash payments, and servicing the remain- ing $200,000 in underlying cash payments to Transition Metals Corp. [XTM-TSXV]. Rio can earn a further 29% interest (total 80%) by spending a further $20 million in exploration over a three years (total $30 million) and making further cash payments of $150,000 to Forum (total $640,000). In November, Orano Canada entered into a $6 million option agreement with Forum to explore the company's Fir Island ura- nium project in the northeastern part of the Athabasca basin. A resistivity survey has been completed over prioritized drill targets previously identified by Forum. A 12-hole, 3,000-metre drilling program is scheduled. Golden Band Resources Inc. [GBRIF- OTC] was acquired by Procon Mining & Tunnelling which continues to work in Saskatchewan. JV partner Mas Gold reported that Golden Band's joint ven- ture interest has been diluted to a royalty position in the La Ronge South gold joint venture properties, as well as a formal request that Golden Band transfer its own- ership interest in all the properties. HudBay Minerals Inc. [HBM-TSX, NYSE] is exploring in the Creighton area of Saskatchewan where it is drilling for deep stratigraphic, structural and seismic targets. IsoEnergy [ISO-TSXV] disclosed details on its drilling plans for the Hurricane Zone, a new discovery of high-grade ura- nium mineralization on its 100%-owned Larocque East property in the eastern Athabasca basin. The fully financed $2 million drill pro- gram includes the addition of a second rig to complete 20 drill holes for an estimated 8,500 metres of drilling. The program began in early January to complete infill and expansion drilling. IsoEnergy has other uranium projects in the Athabasca region, including Geiger, Thorburn Lake, North Thorburn, Edge, Carlson Creek, Madison, 2Z, Collions Bay Extension and Radio. NexGen Energy holds a 64% interest in IsoEnergy Ltd. IsoEnergy was spun out of NexGen Energy in 2016 and has since grown its portfolio to 14 properties in the Athabasca Basin through acquisitions and staking. NexGen Energy still holds a 52% interest in IsoEnergy. Mas Gold Corp. [MAS-TSXV] has reported additional positive results from preliminary metallurgical testwork com- pleted on composited drill core material from the North Lake gold deposit in SASKATCHEWAN

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