Forte Energy
Forte Energy NL is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide.
The Company changed its name from Murchison United NL on 25 November 2008.
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 delivers maiden uranium resource at Firawa Project in Guinea
Internationally based uranium developer, Forte Energy (ASX: FTE; AIM: FTE) has inked a maiden JORC Compliant resource at Firawa Uranium Project in Guinea, West Africa.
The initial inferred resource estimate is 17.7 milion tonnes grading 296ppm U308 for 11.6 million pounds of contained U308. It was prepared by independent consultant, Coffey Mining.
Forte said it was encouraged by the significant scope for increases to the initial resource estimate for the Firawa Project. This was due to the bulk density testing currently underway and from further drilling which has been recommended to test for extensions to the deposit.
Importantly, the deposit remains open along strike and down dip.
To date, bulk density tests on five samples returned an average of 3.5 t/m3. If a more conservative figure of 2.2t/m3 is used in resource calcualation, the estimated U308 resource would increase.
Forte Managing Director Mark Reilly said the Firawa Project is now the most advanced of its uranium exploration projects in Guinea. It represents "a significant milestone towards the company's development and production goals."
Drilling is scheduled to commence in Mauritania this quarter. Forte has entered a Co-operative Agreement with Areva for tenement permits in Mauritania, covering nine exploration permits, covering 11,900 sq km.
An initial JORC uranium resource estimate for Mauritania is due later this year.
With a substantial drilling program, there is likely to be a pipleine of positive updates and assay results.
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Other Forte Energy articles
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01/02/10 Forte Energy nears completion of additional drilling at Bir En Nar uranium project, tests in Guinea encouraging
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26/10/09 Forte Energy: strategically positioned in Africa’s emerging uranium districts
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27/07/09 Mark Reilly, Managing Director and CEO of Forte Energy Audio Transcript
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01/06/09 Forte Energy raises A$10 million, expects maiden resource statement for Firawa Uranium Project soon
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04/07/08 Murchison United moves into the big league with AREVA deal
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02/10/07 Murchison United is looking to score with uranium
Other Forte Energy news
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17/03/10 Forte Energy H1 saw busy exploration programme, cash up year-on-year
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04/03/10 Forte Energy pleased with realised value from Australia JV disposals as it advances uranium exploration in Africa
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23/02/10 Forte Energy reports high-grade uranium assays in Mauritania, maiden JORC estimate due in March
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04/02/10 Forte Energy to complete diamond drilling at Bir En Nar uranium prospect
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15/01/10 Forte Energy signs A$2 million Maroochydore JV Copper Project Sale Agreement
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04/01/10 Forte Energy expands RC drilling programme at Bir Moghrein uranium project, expects Bir En Nar JORC resource in Q1 2010
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02/11/09 HansonWesthouse encouraged by Forte Energy’s assay results from Mauritania, ups price target
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30/10/09 Forte Energy soars on news of encouraging assay results from Mauritania uranium projects
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01/09/09 Forte Energy commences drilling at Bir En Nar Uranium Project
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18/08/09 Forte Energy takes first step in divestment of Millenium Copper Project