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« No to new nuclear power: Province to rebuild existing reactors instead | Main | Uranium miner making further cuts »
Tuesday
Oct082013

FORSYS PROVIDES UPDATED MINERAL RESOURCE ESTIMATE FOR ITS NORASA URANIUM PROJECT

Toronto, ON – October 7, 2013 - Forsys Metals Corp (“Forsys” or the “Company”) (TSX:FSY, FWB:F2T, NSX:FSY) is pleased to announce it has completed an updated Mineral Resource estimate for its 100% owned Norasa Uranium Project (“Norasa”) located in Namibia.
Norasa represents a consolidation of the Company’s deposits, including Valencia main and satellite pits and Namibplaas. The updated resource estimate is based on an extensive drilling program at the Namibplaas and Valencia extension deposits, together with a detailed modelling review of the main Valencia deposit. 
 
Key highlights of the updated resources estimate for Norasa include: 
 
• Measured and Indicated Resources have increased to 103 million pounds of uranium, 
up from 94 million pounds 
 
• Grade has increased 13% to 197ppm from higher cut-off grades of 100ppm at Valencia and 170ppm at Namibplaas 
 
• At lower cut-offs of 60ppm at Valencia and 100ppm at Namibplaas, Measured and Indicated Resources exceed 150 million pounds of uranium 
 
• With this newly updated Resource an updated Reserve Statement is expected to be completed before the end of Q1 2014 

To read this interview in full please click here.


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