Forte Energy NL 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. Exploration programs have so far established JORC code compliant uranium resources totaling 44.9Mlbs U3O8 (76.8Mt @ 266ppm U3O8) from its 100% owned Firawa (Guinea), Bir En Nar and A238 (Mauritania) prospects.
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.