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Additiona Assays from A238 Uranium Prospect, Mauritania

^{Published on 2011-04-03 23:20:16 - 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 4 April 2011 Additional assay results from A238 uranium prospect, Mauritania HIGHLIGHTS * Assay results have been received from the final two RC holes drilled at the A238 uranium prospect, Mauritania o Significant intersections from the RC drill holes include: * 9m @ 271ppm U * 6m @ 300ppm U * Assay results received from the first four diamond drill holes at the A238 uranium prospect, diamond drilling campaign to be completed in the second quarter of 2011 o Significant intersections from the diamond drill holes include: * 48m @ 311ppm U * 12m @347ppm U * 10m @ 260ppm U * 24m @ 457ppm U * 9m @ 317ppm U * 31m @ 413ppm U * 20m @ 381m U * Additional RC drilling completed at previously discovered 'high grade shoot' at A238 assay results to be released imminently * RC drilling campaign currently focusing on high priority regional targets within the Company's exploration leases in Mauritania * Forte Energy remains on track to release a preliminary maiden JORC compliant resource estimate for A238, following the completion of the follow-up drilling programme before the end of the field season in Q2 2011. International uranium company Forte Energy NL ("Forte Energy" or "the Company") (ASX: FTE, AIM: FTE) is pleased to announce the assay results from the final two holes of the 7000m reverse circulation ("RC") drilling programme and the assay results from the first four holes of the 1500m diamond drilling programme on the A238 uranium prospect in northern Mauritania. Table 1 below highlights the assay results received from the final two holes, of the 120 hole 7000m RC drilling programme that was completed in December 2010. Table 1 - A238 RC results [100ppm lower cutoff] Hole UTM UTM AZIM DIP From To metres ppm U est ppm Easting Northing U3O8 238RC77 283945 2771972 55 -50 33 34 1 172 203 38 40 2 209 246 42 44 2 117 138 238RC78 284023 2771965 55 -50 13 15 2 231 272 18 19 1 129 152 21 22 1 126 149 23 29 6 208 245 30 31 1 229 270 38 39 1 158 186 41 50 9 271 320 51 55 4 215 254 57 63 6 300 354 74 75 1 246 290 Please note that the interval lengths reported do not necessarily represent true widths. Table 2 shows the assay results received from the first four of ten diamond drill holes from the 1500m drilling programme that commenced in late 2010. The 1500m diamond drilling programme is due to be completed in the second quarter of 2011. Table 2 - A238 diamond drilling results Hole UTM UTM AZIM DIP From To metres ppm U est ppm Easting Northing U3O8 238DD01 284242 2771573 55 -60 35 36 1 179 211 38 41 3 261 308 45 49 4 137 162 71 119 48 311 367 120 122 2 141 166 159 160 1 157 185 161 162 1 132 156 238DD02 284301 2771491 55 -60 15 16 1 101 119 17 19 2 139 164 22 25 3 167 197 28 29 1 138 163 31 43 12 347 409 44 54 10 260 307 61 62 1 180 212 74 75 1 109 129 95 119 24 457 539 120 121 1 107 126 124 125 1 167 197 128 137 9 213 251 139 141 2 306 361 144 147 3 155 183 238DD03 284362 2771411 55 -60 26 30 4 299 353 32 41 9 317 374 43 45 2 406 479 46 50 4 359 423 52 53 1 212 250 56 60 4 388 458 61 62 1 163 192 66 68 2 201 237 70 76 6 512 604 78 82 4 273 322 105 136 31 413 487 179 180 1 100 118 238DD04 284434 2771340 55 -60 53 54 1 137 162 69 71 2 158 186 90 110 20 381 449 Please note that the interval lengths reported do not necessarily represent true widths. As previously stated, Forte Energy remains on track to calculate a preliminary maiden inferred JORC compliant resource estimate for the A238 uranium prospect in the second quarter of 2011 using the RC assay results received from the completed 7000m RC drilling programme and the results received from the 1500m diamond drill programme that is nearing completion. Forte Energy has recently completed an RC extension drilling programme of approximately 1200m on the A238 prospect where the high grade main shoot was previously identified. This drilling campaign was designed to increase the size of the potential resource to be reported as well as the confidence level, potentially allowing some Indicated Resources to be reported. The Company has now commenced the next phase of drilling in Mauritania which will consist of a further 7000m RC drilling programme on its other high priority regional targets in conjunction with an additional programme of 1300m RC drilling on the A238 high grade main shoot. It is expected the current drilling programme will be completed by the end of the field season in the second quarter of 2011. Mark Reilly Managing Director For further information contact: Mark Reilly, Managing Director Forte Energy NLTel: +44 (0) 203 300 0187 Robin Henshall/Tim Graham Matrix Corporate Capital LLPTel: +44 (0) 203 206 7000 Jos Simson/Emily Fenton Tavistock CommunicationsTel: +44 (0) 207 920 3150 Nicholas Read/Paul Armstrong Read Corporate Tel: +61 (0) 8 9388 1474 Stuart Laing RFC Corporate Finance LtdTel: +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.