Exploration company expands uranium properties in western Nunavut

Exploration company expands uranium properties in western Nunavut

Forum Energy says it plans to conduct exploratory drilling in 2023 Forum Energy Metals Corp. recently expanded its mineral claims around the Kiggavik uranium property, about 100 kilometres west of Baker Lake, seen here. (File photo) Forum Energy Metals Corp. is expanding its uranium properties in Nunavut’s Thelon Basin, about 100 kilometres west of Baker Lake.

Forum, a small exploration company with a market capitalization of $36.5 million, previously explored the area between 2006 to 2012. The company let its claims expire due to the falling price of uranium at the time, said Rick Mazur, the company’s president and chief executive officer.

With the return of Forum, there are plans to establish a base camp for exploration and conduct drilling at two sites in 2023. It is likely the camp will create local jobs, said Mazur, but it’s too early to say how many.

The expansion includes claims covering 534 square kilometres […]

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