Forte Energy (ASX: FTE) is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide.
Forte Energy has secured an extensive portfolio of uranium projects in the Republics of Guinea and Mauritania in West Africa, where it is pursuing intensive exploration programs. The Company also holds copper and cobalt interests in Queensland and Western Australia, Australia.
Forte Energy (ASX: FTE) has received initial assays from a recent 10,000 metre reverse circulation drilling program at the A238 Prospect in Mauritania which confirm mineralised extensions to the northwest of the prospect and at depth below the existing uranium Resource.
Initial assays for 36 of the 55 holes drilled to date show notable intersections of:
- 25 metres at 357 parts per million (ppm) uranium;
- 10 metres at 510ppm uranium;
- 8 metres at 312ppm uranium; and
- 22 metres at 320ppm uranium.
Defining the project’s potential is that 90% of the holes drilled at the A238 Prospect have encountered mineralisation.
A Resource update for the prospect is expected to be announced in the March quarter.
Assays for the outstanding 19 drill holes are due shortly. The program was aimed at drilling outside of the existing Inferred Resource and testing the potential mineralised extensions both at depth and along strike.
Drilling at the A238 Prospect is scheduled to be completed within the next week and the drill rig will then move to Hasi Baida for an initial drilling program of 3,000 metres to test several near to surface calcrete deposits, covering more than 12 square kilometres.
Historical works completed by Forte, including trenching and pits, have identified high grade mineralisation in close proximity to the surface.
Forte has begun a 5,000 metre reverse circulation drilling program at its Firawa Project in Guinea with a total of 1,800 metres across 20 holes completed to date.
The drilling started in the central area infilling in areas where access was not previously possible and testing the down dip extension of the mineralisation.
Drilling is scheduled to continue for the next month testing the anomalies along strike to the east and west.
Assays are expected early in the June quarter, and a Resource update is scheduled for the end of the June quarter.