Leading uranium expert compares the geological “matches” between a recently announced world-class uranium deposit and a current exploration effort in the same geological corridor. Both projects are located in the world’s richest uranium region, Canada’s Athabasca Basin, where one-third of the world’s uranium is now mined.
Sarasota, FL (PRWEB) March 1, 2006 -- Dr. Boen Tan, chief geologist for Forum Development Corp. (TSX: FDC; Other OTC: FDCDF) told StockInterview.com the 6 key geological comparative matches between Cameco Corp’s world-class Millennium uranium deposit and the current project his geological team is exploring, the Key Lake Road project. Both the Millennium uranium deposit and the nearby Key Lake Road project are located on the eastern side of Canada’s highly lucrative uranium region, the Athabasca Basin in northern Saskatchewan. One-third of the world’s uranium mined in recent years has come from the Athabasca Basin. The resurgence in nuclear energy has brought about rising spot uranium prices, a jump of more than 500 percent over the past five years. This has spurred massive uranium exploration efforts in the region, of which Forum Development Corporation is now participating.
Cameco’s Millennium uranium deposit may hold as much as 57 million pounds of uranium, which in the context of rising spot uranium prices, places the value of the deposit in excess of $2 billion. Both the Millennium deposit and the Key Lake Road project are located in the Mudjatik-Wollaston Tectonic Zone, where nearly 10 uranium mines have produced the lion’s share of the world’s uranium needs, which produce about 16 percent of the world’s electricity through nuclear reactors.
In the mid 1970’s, Dr. Boen Tan was instrumental in the discoveries of the Gaertner and Deilmann deposit in the Key Lake area (near the current Millennium uranium deposit). At one time, the Key Lake mine produced about 15 percent of the world’s uranium. Dr. Tan reportedly supervised the definition drilling of those deposits, and later evaluated other Athabasca Basin deposits, such as the world-class Rabbit Lake and McArthur River deposits.
The entire interview with Dr. Boen Tan can be viewed on the Internet news website, StockInterview.com:
http://www.stockinterview.com/forum-tan.html
(Source: StockInterview.com)
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