The drill targets were identified by an initial drill campaign. Two drill holes covering 526m have been completed on the property.
The program focused on two target areas that hosted an EM conductor and a coincident gravity low.
Hole CW-10 intersected a number of fault zones with a graphitic fault gouge zone from 177 to 186m down the hole.
Below 186m elevated uranium values were returned until 242m within a range of 14ppm U3O8 and 84.9ppm U3O8.
Located around 100m north of CW-03, the CW-11 intersected a large deformation zone with uranium values of 36.5ppm U3O8 between 242 and 254m down hole, and 29.5ppm U3O8 from 272 to 284m down hole.
Boron, which is a geochemical pathfinder for uranium mineralization, was also identified in two samples with 509ppm boron between 252 and 262m, and 158 ppm boron between 272 and 278m depth.
Forum Uranium said: "These results indicate that exploration drilling should continue to the north along this major structure."
Uracan has an option to acquire 51% interest in the Clearwater property by investing $3m in exploration in the next three years. The company can earn around 70% stake if it spends $6m over five years.
Covering a total of 9,912 hectares, the Clearwater project adjoins Fission Uranium’s Patterson Lake South claims to the southwest.
