Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 52

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 52
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ization of crews and equipment via chartered flights. This capability is particularly advantageous for exploration, as it minimizes travel time to the property. Furthermore, the proximity to existing mining operations within the region, such as the nearby Cigar Lake Mine and McArthur River Mine, enhances the operational feasibility of the Marten Property. These facilities not only indicate the availability of utilities, such as electricity and water, but also provide logistical support and shared infrastructure that can be leveraged for exploration and future development activities.

Developmental Activities

Current and planned developmental activities will focus on further exploring known mineralization zones and conducting additional drilling programs to evaluate the uranium potential of the Marten Property. The objective is to leverage historical data and current exploration techniques to refine targeting and identify new resource opportunities within this promising property.

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Wolverine Property

Figure 11. Wolverine Property (Background: Airborne Magnetics (TDR RTP)

Wolverine Property is comprised of three mineral claims totaling 12,444 acres (5,036 hectares), located on the southeastern edge of the Athabasca Basin, approximately 15 kilometers southeast of Cameco’s Cigar Lake Mine and 30 kilometers south of Points North Landing. The property is centered on E 524,371 m and N 6,400,816 m (NAD83 UTM Zone 13N).

G eology

The geological framework of the Wolverine Property consists of Athabasca Group sandstones, which unconformably overlie the metamorphic rocks of the Wollaston Domain. The depth to the unconformity ranges from 140 meters to 250 meters, creating an environment conducive to hosting uranium mineralization. Historical drilling has indicated mineralization hosted within faulted pegmatite and highlighted the potential for further discovery. The region’s geological characteristics align with those found near other productive uranium deposits in the basin.

Exploration Activities

The exploration history of the Wolverine Property dates back to as early as 1969, showcasing various drilling programs that have identified uranium mineralization. A significant drill program in June 2010 intersected 2,087 ppm U over 0.1 meters within a two-meter interval averaging 446 ppm U in drill hole WL10-01. Additional historical drilling has uncovered peak mineralization grading 0.25% U3O8over 0.1m, hosted in alteration zones near the unconformity. Notably, the property shows potential for an extension of the Bird Lake Fault, which is correlated with multiple mineralized showings to the northeast.

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