Janice Lake project (Credit: Forum Energy Metals)
Forum Energy Metals (TSXV: FMC) has agreed to buy all of Rio Tinto Exploration Canada’s interest in the Janice Lake copper property, giving Forum a 100% interest. The property covers 39,943 hectares in north-central Saskatchewan, 55 km southeast of the Key Lake uranium mill. It contains over 20 sediment-hosted copper showings, says Forum.
The company completed a first-pass, four-hole shallow drill program in August 2018. Copper mineralization was intersected in all four holes at the Janice and Jansem targets within 80 metres of the surface. Hole FEM-01 cut 18.0 metres (true width) grading 0.94% copper and 6.7 g/t silver, including 5.2 m grading 2.22% copper and 16.5 g/t silver. Rio Tinto has since drilled 39 holes totalling 10,033 metres on four drill targets: Janice, Jansem, Kaz, and Rafuse.