Science and Technology
Science and Technology
Wed, April 10, 2013
[ 06:00 AM ] - Market Wire
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Tue, April 9, 2013
April 10, 2013 02:00 ET
Drilling to Commence in Mauritania
Forte Energy NL ACN 009 087 852 10th April 2013 Drilling to commence in highly prospective areas in Mauritania Forte Energy NL ("Forte Energy" or "the Company") (ASX/AIM: FTE) is an emerging international uranium company focused on the exploration and development of a portfolio of uranium assets in the Republics of Mauritania and Guinea, West Africa. The Company is pleased to announce that a contract has been signed with Wallis Drilling Africa Pty Ltd for approximately 5,000m of NQ Aircore drilling in the highly prospective areas close to the A238 prospect and at Hassi Baida. Drilling is scheduled to start in Mid-May, following the shipment of the drill rig to Mauritania. To view Figure 1: Mauritanian Licences, please open the following link in a new window: [ http://media3.marketwire.com/docs/forte_0410_fig_1.pdf ]. Hasi Baida is a highly prospective calcrete area situated approximately 50km north-east of the existing Forte Energy licences and covers over 800km2. The drilling programme will target eight separate prospects within the Hasi Baida licence. The targets are all uranium in superficial calcrete deposits. The 5,000m programme will also include aircore scout drilling which will target blind, near surface metasomatite style uranium mineralisation along interpreted major structural corridors close to the A238 Prospect. Commenting on the update, Mark Reilly, Managing Director of Forte Energy, said: "The additional drilling of the calcrete as well as the metasomatite style deposits in close proximity to our existing resources is consistent with our stated strategy of proving up a number of economically viable deposits within our licence areas in Mauritania. Forte remains committed to being at the forefront of Mauritania's uranium mining industry and looks forward to commencing the drilling campaign within the next month." Mark Reilly Managing Director For further information contact: Mark Reilly Geoff Nash/Ben Thompson Managing Director Elizabeth Johnson (broking) Forte Energy NL finnCap Tel: +44 (0) 203 3849555 Tel: +44 (0)207 220 0500 Bobby Morse/Cornelia Browne Stuart Laing Louise Hadcocks RFC Ambrian Ltd Buchanan (AIM Nominated Adviser to the Company) Tel: +44 (0) 207 466 5000 Tel: +61 (0) 8 9480 2506 Forte Energy NL Australia United Kingdom Suite 3, Level 3 3C Princes House 1292 Hay Street 38 Jermyn Street West Perth WA 6005 London SW1Y6DN Ph: +61 (0)8 9322 4071 Ph: +44 (0)203 3847474 Fax: +61 (0)8 9322 4073 Fax: +44 (0)207 2878387 Email: [ info@forteenergy.com.au ] Email: [ info@forteenergy.co.uk ] Web: [ www.forteenergy.com.au ] About Forte Energy Forte Energy is an Australian-based minerals company focused on the exploration and development of uranium and associated bi-products in Mauritania and Guinea in West Africa. The Company has an extensive pipeline of assets and total JORC resources of 76.8Mt @ 266ppm U3O8for 44.9Mlbs contained U3O8 (100ppm cut-off). Its flagship assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs U3O8) in Mauritania, and the Firawa Project in Guinea (19.5Mlb U3O8). Forte Energy U3O8 JORC resources (all at a 100ppm cut-off): ------------------------------------------------------------------------------------------------------ Project Resource Category M tonnes ppm U3O8 Contained U3O8 Mlbs ------------------------------------------------------------------------------------------------------ A238* Inferred 45.2 235 23.4 ------------------------------------------------------------------------------------------------------ Bir En Nar Indicated 0.5 886 1.0 ---------------------------------------------------------------------------------- Inferred 0.8 575 1.0 ------------------------------------------------------------------------------------------------------ Firawa Inferred 30.3 295 19.5 ------------------------------------------------------------------------------------------------------ Total Indicated 0.5 886 1.0 ---------------------------------------------------------------------------------- Inferred 76.3 262 43.9 ---------------------------------------------------------------------------------- Total 76.8 266 44.9 ------------------------------------------------------------------------------------------------------ * A238NW Anomaly included in the A238 Inferred Resources Forte Energy's strategy is to target high grade uranium ore bodies and build a low cost West African- focused uranium producer. The Company is quoted on the Australian Stock Exchange (ASX: FTE) and AIM market of the London Stock Exchange (AIM: FTE). For more information, visit [ www.forteenergy.com.au ]. Note: The information in this report that relates to the reporting of Mineral Resources is based on information compiled by Mr. Galen White, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr White is the Principal Geologist of CSA Global (UK) Ltd. CSA Global have an on-going role as geological consultants to Forte Energy NL. Mr. White 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 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. White consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
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