• TSX-V: FDC

Fir Island


Ownership:100%
Stage:Highly Prospective; Drill Ready
Size:14,205 Ha
Location &
Infrastructure
Fir Island is located approximately 5km northeast of the community of Black Lake, on the northeast edge of the Athabasca Basin. It is connected by an all-weather road to the provincial highway system, which also provides year-round road access to the Rabbit Lake and McClean Lake mills. The property can be accessed by truck in the winter and by boat in the summer.
Regional
Significance
The regionally important Black Lake fault, part of the major Snowbird Tectonic Zone, transects the entire Athabasca Basin, and is highly prospective for unconformity-type uranium deposits.  The sandstone cover varies from 0 to 200m above the unconformity.
Proximity to
significant
deposits
Cameco’s Centennial Deposit is located near the south boundary. The historic Nisto uranium mine (96 tonnes mined at 1 . 38% in the late 1950s) occurs in basement rocks on the northwest side of the Black Lake fault, directly adjacent to the property.

Outlook:

  • The possibility of uranium mineralization below the unconformity at the base of the thrust fault (similar to McArthur River) or in the hanging wall of the Cathy Fault in the basement (similar to Millennium or Eagle Point) demonstrates the highly prospective nature of the Fir Island project.

Work Programs for 2017

  • A ground EM survey was completed along the East Channel Structure on Fir Island as part of a continuing program to refine drill targets for a winter 2017-18 program.
  • It is also recommended to continue drilling along the Cathy Fault, possibly with 200m step-outs along strike and down-dip to determine if uranium values increase in either direction.

Historical Work

  • Forum completed a 10 hole reconnaissance drill program totaling 2,435m in early 2015. Drill hole FI-03 intersected 35m of 0.3% nickel from 180m to 215m in the basement lithologies. Drill hole FI-04 intersected up to 386ppm U in clay-rich basement lithologies immediately beneath the unconformity at 140m, and then 17m of enriched boron (up to 2810ppm) from 148m to 165m depth.
  • Five holes were competed on two fences 50m apart ( See Target H on Figure 2) and intersected a very interesting area of tectonization, quartz dissolution, and a 50m offset in the unconformity along a NE trending thrust fault (Cathy Fault -See Figure 3). Dravite and sudoite clays were found in both the sandstone and basement lithologies, along with locally elevated geochemistry (U, Pb, B). Hole FI-8, drilled near the East Channel Structure, returned values of 137 and 161ppm U respectively, below a section of 16m of 2750ppm B, all within pegmatites starting at depth of 202m to the unconformity. The strike and dip of the Cathy Fault is now known, which can be used for follow-up drill holes.

Maps & Figures

Figure 1: Location Map

Figure 2: 2014 and 2016 Filtered Gravity Survey


Figure 3: Cross-Section FI-6, 7 and 8.
Note thrust fault with 50m offset at the unconformity. Elevated boron and dravite clays are present in all 3 holes.


Figure 4: Cross-Section FI-9, 10
50m south of Figure 3. The extent of the Cathy fault into the basement rocks is not known.


Figure 5: 2016 Till Sampling Results


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