TORONTO (miningweekly.com) – Namibia-focused uranium project developer Forsys Metals on Tuesday reported “encouraging” results from a recent drilling campaign completed on the company’s Valencia East discovery, which forms part of the recently consolidated Norasa uranium project, comprising the Valencia and the Namibplaas deposits.
The drilling programme was completed during the first quarter and built on the initial 15 percussion holes drilled between November 20, 2012, and year-end. Thirty additional holes were drilled, comprising 3 185 m, which gave the company a total of 5 436 m drilled since the programme started.
The assayed drill results included an interval of 19.4 m grading 240 parts per million (ppm) of triuranium octoxide (U3O8), 6.1 m grading 777 ppm and 3.4 m grading 1 244 ppm of U3O8.
CEO Marcel Hilmer said the positive drilling results from Valencia East were encouraging and could indicate the potential for a significant high-grade area located close to the main Valencia deposit and proposed processing plant.
Forsys said following on from this drilling at Valencia East, drilling activities would move to the Valencia North deposit, to begin delineating that orebody. This exploration programme would initially target 3 000 m and was designed to establish the outline of another prospective deposit and to enable planning for further sampling and analytical work.
Initial drill sites had already been laid out at Valencia North and drill access (tracks and platforms) was being established.
The company also on Tuesday reported that results of a metallurgical test programme that began during the second half of 2012 had improved the metallurgical recovery rate of the project.
The previous technical report prepared by consultancy Snowden, and released in January 2010, reported processing recoveries of 85.7%. The current results from Johannesburg-based consulting firm SGS Lakefield, had indicated an overall plant recovery exceeding 88%.
The company added it expected acid consumption to be 16% less than previously assumed.
"We are very pleased that this programme continues to increase both the potential resources and the overall grade of Norasa. We are further encouraged by the SGS report, which indicates an increased processing recovery of greater than 2% over those in the company's previous technical report,” Hilmer said in a statement.