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Forte Energy well positioned to add to resource base

Forte Energy well positioned to add to resource base

Drilling at highly prospective areas close to the A238 prospect and at Hasi Baida in Mauritania is due to kick off in the middle of May, Forte Energy (LON:FTE, ASX:FTE) told investors.

Releasing first quarter results Wednesday, the emerging uranium junior said it was well positioned this year to add to its resource base.

Managing director Mark Reilly said: "Having  secured access to funding through the Darwin Equity Financing Facility, a portion of which has been drawn down during this quarter, Forte has ensured that it is well positioned to continue adding to the  company's already considerable resource base in Mauritania.

"We look forward to updating the  market with results from the highly prospective areas close to A238 and from the calcrete deposits at Hassi Baida following the completion of the drilling campaign."

Forte has inked a deal with Wallis Drilling Africa for around 5,000 metres of NQ Aircore drilling.

Hassi  Baida lies 50km north-east of the existing Forte Energy licences and covers over 800 sq km. The drilling programme will target eight separate prospects within the Hassi Baida licence. 

It will also include scout drilling which will target  blind,  near surface metasomatite style uranium mineralisation along interpreted major structural corridors close to the  A238 prospect.

The firm ended the quarter with A$469,000.

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