N@N

Significant intersections from A238 uranium prospect

^{Published on 2011-01-26 23:40:44 - Market Wire}
 

 FORTE ENERGY NL ACN 009 087 852 ASX/AIM CODE: FTE, Telephone: +618 9322 4071, Fax: +618 9322 4073 ASX, AIM and Media Release 27 January 2011 Significant intersections from A238 uranium prospect, Mauritania Intersections from "main shoot" up to 80 metres @ 369ppm U HIGHLIGHTS * Assay results received from a further nine holes drilled at the A238 uranium prospect, Mauritania. * First assays from "main shoot" of the A238 system reveal wide near surface intersections of uranium mineralisation, including: o 44m @ 555ppm U o 52m @ 434ppm U o 55m @ 476ppm U o 31m @ 332 ppm U o 52m @ 321ppm U o 80m @ 369ppm U o 38m @ 221ppm U * After completion of first drill phase, results may be incorporated into a preliminary maiden resource estimate for A238, while additional follow-up drilling is undertaken before the end of field season. International uranium company Forte Energy NL ("Forte Energy" or "the Company") (ASX: FTE, AIM: FTE) is pleased to release assay results from a further nine holes from the completed Reverse Circulation ("RC") programme on the A238 uranium prospect in northern Mauritania. The majority of these holes were drilled into the previously identified "main shoot" and as expected they demonstrate a considerable increase in both thickness and grade from previous results released for holes outside of the main shoot area. These positive results provide comfort that a thick high grade zone exists in this section of the A238 anomaly. During this first phase of drilling, the Company's primary focus has been on defining the strike extent of the A238 mineralisation, however the disparity in width and grade of this main shoot above that of the remainder of the anomaly is such that this shoot would likely contain the bulk of the total uranium contained within the A238 structure. Over 7000m of RC drilling has been completed on A238, with approximately 1500m of diamond drilling expected to be completed soon. Following the completion of this drilling, it is the Company's plan to pause briefly to assess this data and construct 3-dimensional models of the mineralised body, so that a second phase of drilling can then undertaken in the remaining weeks of the Mauritanian field season specifically targeting the main shoot. Table 1 - A238 RC results [100ppm lower cutoff] Hole UTM UTM AZIM DIP From To metres ppm U est ppm U3O8 Easting Northing 238RC101 284147 2771686 55 -70 59 68 9 287 338 7411844555654 1241251119140 1281368226267 1391401224264 1421431120142 238RC102 284203 2771726 55 -70 0 52 52 434 512 54551109129 238RC103 284121 2771670 55 -70 145 149 4 125 147 1501511447527 1581613282333 1621631122144 238RC104 284108 2771784 55 -70 13 14 1 103 121 15205121143 21221105124 298455476561 86882224264 92953581685 981035417492 1051127614724 1171247271320 1261271130153 1291312211249 238RC105 284080 2771764 55 -70 49 50 1 132 156 51554165195 59689214252 7210331332392 10715952321379 238RC106 284254 2771642 55 -70 4 5 1 115 136 9101117138 14228141166 23263147173 34351110130 37425360425 43452173204 1001011138163 1081113174205 1171203174205 238RC107 284218 2771617 55 -70 49 50 1 325 383 5313380369435 1361371106125 238RC108 284309 2771558 55 -70 0 6 6 137 162 891101119 12131105124 16171121143 195738212250 598223202238 89901100118 238RC109 284272 2771532 55 -70 14 15 1 337 397 18191132156 22242345407 26271133157 28291240283 30388200236 435613210248 57614143169 62642150177 66704160189 72764173204 78802140165 84851106125 961037295348 1061071179211 11012616267315 1301399250295 Mark Reilly Managing Director For further information contact: Mark Reilly, Managing Director Forte Energy NL Tel: +44 (0) 203 300 0187 Robin Henshall/Tim Graham Matrix Corporate Capital LLP Tel: +44 (0) 203 206 7000 Jos Simson/Emily Fenton Tavistock Communications Tel: +44 (0) 207 920 3150 Nicholas Read/Paul Armstrong Read Corporate Tel: +61 (0) 8 9388 1474 Stuart Laing RFC Corporate Finance Ltd Tel: +61 (0) 8 9480 2506 (AIM Nominated Adviser to the Company) Note: The information in this report that relates to Exploration Results is based on information compiled by Mr. Bosse Gustafsson, who is a Member of the European Federation of Geologists, a ?Recognised Overseas Professional Organisation? (?ROPO?) included in a list promulgated by the ASX from time to time. Mr Gustafsson is a full time Technical Director of Forte Energy NL and is responsible for exploration activities in Mauritania and Guinea. Mr. Gustafsson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?. Mr. Gustafsson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.