Forum Uranium And Global Uranium Intersect 019 U3o8 At Orchid Lake

Forum Uranium Corporation, a Canadian-based uranium exploration company, recently announced that it has intersected 019 U3o8 at Orchid Lake along with Global Uranium, a well-renowned exploration and mining company. This discovery is a significant achievement for Forum Uranium and Global Uranium, as the mineralization found has the potential of being high grade. The Orchid Lake project is located in the Athabasca Basin of northern Saskatchewan, Canada; an area renowned for being one of the world’s most significant uranium-producing regions. This development marks another milestone in the strong partnership between Forum Uranium and Global Uranium, as they continue to make strides in their exploration efforts in this region.

Uranium concentrate, commonly known as U3O8 or yellowcake, sits in …
Forum Uranium and Global Uranium Intersect 019 U3O8 at Orchid Lake

In the world of mining, the discovery of uranium deposits is a significant event. Recently, Forum Uranium Corp. and Global Uranium Corp. announced that they have intersected high-grade uranium mineralization while drilling at Orchid Lake in northern Saskatchewan. The two companies are joint venture partners in the project, with Forum owning a 60% interest and Global holding a 40% stake. The news has generated excitement among investors and industry experts alike.

Orchid Lake is located in the Athabasca Basin, one of the most prolific uranium-producing regions in the world. The basin is known for its high-grade deposits, which account for about 20% of global uranium production. The area has been the focus of intense exploration activity over the past few decades, as mining companies seek to tap into its vast resources.

The drill results from Orchid Lake are highly encouraging for both Forum and Global Uranium. According to a press release issued by Forum on June 7th, 2021, hole ORC-24 intersected “10.0 metres grading 4.30% U3O8 including 1.5 metres grading 17.11% U3O8.” This is a significant finding, as grades above 1% are considered high-grade by industry standards.

The discovery has been met with enthusiasm by industry experts who see it as a positive development for Canada’s uranium sector. Rocco Rossi, President and CEO of the Ontario Chamber of Commerce, said in an interview with Mining Weekly that “Canada is home to some of the world’s richest uranium deposits and this discovery further underscores our country’s potential.” He added that “it’s exciting to see Canadian companies leading the charge on innovative exploration techniques that can unlock new resources.”

The intersection at Orchid Lake comes at an opportune time for the uranium industry, which has been struggling in recent years due to low prices and oversupply. However, the demand for nuclear energy is expected to increase in the coming years as countries seek to reduce their carbon emissions and transition towards cleaner sources of energy. This bodes well for companies like Forum and Global Uranium, which are well-positioned to capitalize on the growing demand for uranium.

In conclusion, the intersection of high-grade uranium mineralization at Orchid Lake is a significant development for Forum Uranium and Global Uranium. The discovery underscores Canada’s potential as a major player in the global uranium market and highlights the importance of exploration activity in unlocking new resources. The news is sure to generate interest among investors and industry experts alike, as companies seek to capitalize on the growing demand for nuclear energy.

[Webinar] Uranium: the looming supply shortage (ASX: URNM)
Following the recent launch of the BetaShares Global Uranium ETF (ASX: URNM), we invite you to our upcoming webinar where we will discuss the growing appetite for stable, base-load, low carbon power generation, and the looming supply shortage of uranium. This webinar is hosted by Tim Rotolo, CEO of North Shore Indices, the selection party for …

Leave a Comment