Forte Energy NL Final Assay Results from the A238 Prospect in Mauritania
March 12 2013 - 3:00AM
UK Regulatory
TIDMFTE
Final Assay Results from the A238 Prospect in Mauritania
Forte Energy NL
ACN 009 087 852
12 March 2013
Final Assay Results in Mauritania at the A238 Prospect
Forte Energy NL ("Forte Energy" or "the Company") (ASX/AIM: FTE), the emerging international uranium company
focused on the exploration and development of a portfolio of uranium assets in the Republics of Mauritania and
Guinea, West Africa, today announces further assay results from its drilling campaign in Mauritania.
Highlights
=- Drilling and Assay results confirm intermittent narrow mineralisation
over a strike length of 0.5km to the north of the existing A238 Resource
=- Structural model developed from drilling and ground surveys will be used
to identify other prospective structural targets within the Forte
licences
=- The A238 Resource remains open at depth
=- Forte Energy U3O8 JORC resources (all at a 100ppm cut-off):
=---------------------------------------------------------------------------
Project Resource Tonnage Grade Contained
Category (Mt) (ppm U3O8) U3O8 Mlbs
=---------------------------------------------------------------------------
A238(i) Inferred 45.2 235 23.4
=---------------------------------------------------------------------------
Bir En Nar Indicated 0.5 886 1.0
=---------------------------------------------------------------------------
Inferred 0.8 575 1.0
=---------------------------------------------------------------------------
Firawa Inferred 30.3 295 19.5
=---------------------------------------------------------------------------
Indicated 0.5 886 1.0
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Total Inferred 76.3 262 43.9
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Total 76.8 266 44.9
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(i) A238NW Anomaly included in the A238 Inferred Resources
The Company has now received Fusion XRF chemical assay results from the Reverse Circulation (RC) drilling
program completed at the A238 Prospect in Mauritania on the 14th December, 2012. The program included 28 holes
drilled, totalling 4,115m and covered the structural extensions identified in the high resolution ground
magnetic and radiometric surveys to the north and south of the existing A238 Resource.
A total of 12 holes were drilled to 2km north of the existing A238 Resource at 200m spacing. Positive assay
results from five of the holes located over 0.8km to the north of A238 indicated narrow mineralised structures
over a strike length of 0.5km. Assay results from RC 222 indicated intermittent mineralisation from 53m to 100m
below surface, with grades of up to 567ppm U3O8.
A total of 13 holes were drilled to the south, all of the holes confirmed the structural extension of the
Zednes shear zone to the south, but none of which identified uranium mineralisation. Three holes were drilled
at the south eastern end and outside of the A238 Resource with RC 219 potentially increasing the width of the
mineralisation.
Commenting on the results, Mark Reilly, Managing Director of Forte Energy, said:
"These latest drilling results provide further evidence of a mineralised structure to the north of our existing
resource as well as a continuation of the Zednes Shear Zone to the south. Our strategy remains to drill out
additional nearby targets in the A328 license, as well as the calcrete deposits at Hassi Baida, and add further
to our substantial existing resource base in Mauritania".
Republic of Mauritania, West Africa
Forte Energy has ten 100% owned licences over 7,000km2 in Mauritania.
To view Figure 1: Mauritanian Licences, please open the following link in a new window:
http://media3.marketwire.com/docs/fte0312fig1.pdf.
A238 Prospect
Following completion of the high resolution ground magnetic and radiometric surveys by Geophysical consultants
SEMS Exploration Ltd of Accra, Ghana in September, it was confirmed that the A238 prospect is structurally
controlled within the Zednes shear zone and extends to the north and south.
A Reverse Circulation (RC) drilling program was started on the 14th November and continued up until the 14th
December, with 28 holes drilled, totalling 4,115m. The drilling programme started to the south of the existing
A238 resource, stepping out 200m, drilling 3 holes on each section covering the prospective structure
identified in the magnetic survey.
Further to the south the drilling profiles were increased to 400m covering 3km. A total of 13 holes were
drilled to the south, all of the holes confirmed the structural extension of the Zednes shear zone to the
south, but none of which identified uranium mineralisation.
To view Figure 2: A238 Prospect Drilling and Assayed Holes, please open the following link in a new window:
http://media3.marketwire.com/docs/fte0312fig2.pdf.
A total of three holes were drilled outside of the resource to the south east, with RC219 intersecting low
grade mineralised zones from 15m to 25m and 27m to 33m.
Table 1: Summary of A238 Assay Results
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Average
Grade
East North Inclination From To Interval U3O8
Hole Id WGS84 WGS84 (Degrees) (m) (m) (m) (ppm)
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RC219 284,605 2,771,215 -55 15 25 10 218
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27 33 6 157
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RC222 282,405 2,774,009 -55 53 59 6 208
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62 66 4 163
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70 71 1 668
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84 89 5 293
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97 100 3 233
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RC223 282,262 2,774,213 -55 108 109 1 223
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114 117 3 214
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RC224 282,106 2,774,349 -55 6 7 1 189
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21 22 1 134
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RC227 282,446 2,774,032 -55 6 11 5 177
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13 16 3 238
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19 20 1 290
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RC228 282,364 2,773,979 -55 120 123 3 176
=---------------------------------------------------------------------------
Twelve holes were drilled to the north of the A238 prospect, outside of the current resource drilled on
profiles of 200m and covering 2km to the north. Five of the holes intersected narrow mineralisation both near
to surface and a second structure at depth over a strike length of 0.5km outside of the existing A238 resource
To view Figure 3: Structural Interpretation of the A238 Area, please open the following link in a new window:
http://media3.marketwire.com/docs/fte0312fig3.pdf.
The drilling to the south confirmed the extension of the Zednes shear zone to the south. Using the results from
the high resolution ground magnetic and radiometric surveys and the recent drilling information Forte now has a
good understanding of the structural formation in and around the A238 Resource, which will now be used to
identify further targets in the Zednes shear zone, which extends over 150km to the south within the Forte
Licences. This approach will also cover the Tenebdar shear zone to the east which extends over 180km all within
the Forte licence areas
Preparations are now being made to start drilling in the Hassi Baida licence area. Hassi Baida is a highly
prospective calcrete area situated approximately 50km north-east of the existing Forte Energy licences and
covers over 800km2.
Mark Reilly
Managing Director
For further information contact:
Mark Reilly Geoff Nash/Ben Thompson
Managing Director Elizabeth Johnson (broking)
Forte Energy NL finnCap
Tel: +44 (0) 203 3849555 Tel: +44 (0)207 220 0500
Bobby Morse/Cornelia Browne Stuart Laing
Louise Hadcocks RFC Ambrian Ltd
Buchanan (AIM Nominated Adviser to the Company)
Tel: +44 (0) 207 466 5000 Tel: +61 (0) 8 9480 2506
Forte Energy NL
Australia United Kingdom
Suite 3, Level 3 3C Princes House
1292 Hay Street 38 Jermyn Street
West Perth WA 6005 London SW1Y6DN
Ph: +61 (0)8 9322 4071 Ph: +44 (0)203 3847474
Fax: +61 (0)8 9322 4073 Fax: +44 (0)207 2878387
Email: info@forteenergy.com.au Email: info@forteenergy.co.uk
Web: www.forteenergy.com.au
About Forte Energy
Forte Energy is an Australian-based minerals company focused on the exploration and development of uranium and
associated bi-products in Mauritania and Guinea in West Africa. The Company has an extensive pipeline of assets
and total JORC resources of 76.8Mt @ 266ppm U3O8for 44.9Mlbs contained U3O8 (100ppm cut-off).
Its flagship assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs U3O8) in
Mauritania, and the Firawa Project in Guinea (19.5Mlb U3O8).
Forte Energy U3O8 JORC resources (all at a 100ppm cut-off):
=---------------------------------------------------------------------------
Resource M ppm Contained
Project Category tonnes U3O8 U3O8 Mlbs
=---------------------------------------------------------------------------
A238(i) Inferred 45.2 235 23.4
=---------------------------------------------------------------------------
Bir En Nar Indicated 0.5 886 1.0
------------------------------------------------------------
Inferred 0.8 575 1.0
=---------------------------------------------------------------------------
Firawa Inferred 30.3 295 19.5
=---------------------------------------------------------------------------
Total Indicated 0.5 886 1.0
------------------------------------------------------------
Inferred 76.3 262 43.9
------------------------------------------------------------
Total 76.8 266 44.9
=---------------------------------------------------------------------------
(i) A238NW Anomaly included in the A238 Inferred Resources
Forte Energy's strategy is to target high grade uranium ore bodies and build a low cost West African-focused uranium producer.
The Company is quoted on the Australian Stock Exchange (ASX: FTE) and AIM market of the London Stock Exchange (AIM: FTE).
For more information, visit www.forteenergy.com.au
Note:
The information in this report that relates to Exploration Results is based on information compiled by Mr.
Bosse Gustafsson, who is a Member of the European Federation of Geologists, a 'Recognised Overseas Professional
Organisation' ('ROPO') included in a list promulgated by the ASX from time to time. Mr Gustafsson is a former
Technical Director of Forte Energy NL. He has an on-going role as a consultant to the Company. Mr. Gustafsson
has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the
2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Mr. Gustafsson consents to the inclusion in this report of the matters based on his information in
the form and context in which it appears.
The information in this report that relates to the Mineral Resources at the A238 prospect in Mauritania and at
Firawa in Guinea is based on information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr Galen White
BSc (Hons) FGS, FAUSIMM, Managing Director and Principal Geologist of CSA Global (UK) ltd.
The information in this report that relates to the Mineral Resource at Bir En Nar in Mauritania is based on
information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Neil Inwood of Coffey Mining Ltd. Neil
Inwood is the Competent Person responsible for the resource estimation and classification. Mr Inwood is a
Fellow of the AusIMM. As Mr Inwood is now no longer employed by Coffey Mining, Coffey Mining has reviewed this
information release and consent to the inclusion, form and context of the relevant information herein as
derived from the original resource reports for which Mr Inwood's consent has previously been given.
Mr. Gustafsson, Mr. Inwood and Mr. White have sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which they have undertaken to
qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Mr. Gustafsson, Mr. White and Coffey Mining on behalf
of Mr. Inwood consent to the inclusion in this report of the matters based on their information in the form and
context in which it appears.
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