Forte Energy (LON:FTE, ASX:FTE) has identified potential extensions to uranium mineralisation at the A238 Prospect in Mauritania, and aims to upgrade the existing Resource.

A reverse circulation program started on October 17 at A238 and a newly identified anomaly 800 metres north west of A238, with 23 holes drilled to date.

Of the 16 holes drilled at A238, scintillometer readings have identified zones of mineralisation in 12.

A zone of mineralisation potentially trending northwest – southeast over 200 metres has been identified and drilling will continue to test the extensions of the mineralisation.

At the newly identified anomaly, A238NW, the first of seven holes drilled identified zones of mineralisation from 9 metres to 30 metres below surface, while the remaining six intersected potential mineralisation ranging from near surface down to 170 metres. 

Forte will continue to drill at the A238NW anomaly to test the potential mineralised zones, along with other anomalies in the vicinity.

Samples from the drilling program have been sent for testing, with initial assay results expected in December.

Analysis of assay results and a resource update are anticipated in the March quarter of 2012.

The firm added that it is in a strong financial position as it begins its next field exploration campaigns in the two countries.

In its quarterly update, released today, Forte said that a reverse circulation (RC) infill and extension drilling programme is now underway at A238. This is aimed at increasing the initial JORC-compliant inferred mineral resource, which currently stands at 26.5 million tonnes at 256 parts per million of uranium oxide for 14.9 million pounds of the material.

Other targets in Mauritania planned for drilling this season include the Tisram prospect, where previous drilling found seven holes that intersected uranium mineralisation, as well as a number of targets within the new Hasi Baida permit, where a surface sampling programme returned assay results greater than 1,000 parts per million of uranium.

In Guinea, a programme of up to 5,000 metres of extension and infill RC drilling is scheduled to begin by the end of November at the Firawa prospect. The Firawa prospect has an initial JORC-compliant inferred resource of 17.7 million tonnes at 296 parts per million for 11.6 million pounds of uranium oxide.

“Following the doubling of its uranium resources with the June 2011 announcement of a maiden resource for A238, the  company is looking forward to potential increases to its uranium resource base  from  planned drilling at Firawa  and  A238, as well as drill-testing other identified Mauritanian  targets  included within the new Hasi Baida permit,” said Mark Reilly, Forte’s managing director.

Shares in the firm were up 2.9 per cent at 2.675 pence each in early trading today.

Uranium miner Forte Energy (LON:FTE, ASX:FTE) has been “very successful” with sampling at one of its new exploration licences in Mauritania, said broker Singer Capital Markets in a research note today.

After being recently granted two new licences within short distances of its current operations in the country, Forte announced this morning that surface sampling at Hasi Baida has returned high grades of uranium (up to 2.59 per cent uranium or 25,900 parts per million). These results were among assays from eight anomalies within the Hasi Baida permit area that showed uranium in concentrations greater than 1,000 parts per million.

Describing the results as “excellent”, Singer said: “With these good grades, and similar known deposits in northern Mauritania, we believe Forte should discover a significant uranium deposit at Hasai Baida.”

Forte now plans a 2,000-metre reverse circulation drilling programme, due to begin in early 2012, which will target eight separate prospects within the Hasi Baida licence.

“These exciting assay results confirm the great potential of the Hasi Baida licence in Mauritania,” said Mark Reilly, Forte’s managing director. “Surface sampling subsequently undertaken returned assays of greater than 1,000 parts per million uranium from eight separate anomalies within Hasi Baida, including one sample from Anomaly 204 of 25,900 parts per million. An aggressive exploration programme including up to 2,000 metres of RC drilling has already been planned for the current field season.”

Australia-based Forte is focused on exploration and development of uranium and associated bi-products in Guinea and Mauritania in West Africa. The company’s total JORC resource amounts to 45.5 million tonnes at 284 parts per million uranium oxide for 28.5 million pounds of the material

Shares in Forte were up 2.3 per cent at 2.71 pence each this afternoon.

West Africa-focused uranium explorer Forte Energy (LON:FTE, ASX:FTE) improved its revenue during the year to June 30 to US$379,531 (2010: US$290,053), according to results released by the firm this morning. 

Forte’s loss before tax reduced to US$2.4 million (2010: US$2.8 million), while its cash position more than doubled from US$4 million at the end of June 2010 to US$8.7 million by June 30 this year after it completed a fund raising to the tune of A$14.1 million with institutional investors in May.

At the beginning of its 2011 financial year, Forte announced an initial indicated and inferred resource of 1.33 million tonnes at 704ppm (parts per million) uranium oxide for 2.1 million pounds of contained uranium oxide at the Bin En Nar prospect in Mauritania.

This year’s field season focused on resource drilling at the A238 uranium prospect in Mauritania and followed up encouraging assay results from initial exploratory drilling that had been carried out there in the previous year. Consequently, in June this year the company announced a maiden JORC Code-compliant inferred mineral resource of 26.5 million tonnes at 256ppm uranium oxide, for 14.9 million pounds contained uranium oxide, at A238.

A number of other prospects identified from field surveys also underwent exploratory drilling in Mauritania. All holes intersected uranium mineralisation between the surface and down to 84 metres.

Meanwhile, in Guinea, pre-feasibility studies have continued for Forte’s Firawa uranium prospect and while carrying out metallurgical studies it was found that drilling samples from Firawa also contained rare earth elements. Subsequent assay results showed a positive correlation between the uranium and rare earth elements (REE) contents, which Forte said should be advantageous for future mine planning. 

On Tuesday this week, the firm announced that it had been granted two new uranium exploration permits in Mauritania. Known as Hasi Baida and Gin Ouissat, the licences cover an area of 1,790 square kilometres and are located near the firm’s existing licences in the north of the country.

Uranium miner Forte Energy (LON:FTE, ASX:FTE) announced this morning that it has received further positive rare earth element (REE) assay results from its Firawa project in the Republic of Guinea.

The firm, which has uranium assets in Guinea and Mauritania, has a programme of re-assaying samples from two historic drilling programmes at Firawa following the identification of REE potential in 2007 and several metallurgical samples in late 2010.

A first pass reconnaissance reverse circulation (RC) programme of 35 holes was completed in 2007 and this was followed by a more comprehensive 45-hole diamond drilling programme in 2008 and 2009 to define a JORC code-compliant inferred resource of 17.7 million tons at 296 parts per million (ppm) of triuranium oxide.

However, the firm said that it has so far seen a positive correlation between the uranium and the REE contents and the diamond drilling yield significant intersections of total rare earth oxides (TREO).

These included intersections ranging from 42.2 metres at 3.29 per cent TREO to 11.5 metres at 1.02 percent TREO.

“The preliminary results of the assaying suggest that the REE may prove to be a valuable complement to our substantial uranium resources at Firawa,” said Mark Reilly, Forte’s chief executive officer. “We will continue our re-assaying programme over the coming months and intend to publish a resource in Q3/Q4 when the modelling is complete.”

Rare earth elements are a collection of 17 metals, many of which can be used for a variety of applications. For example, lanthanum and lutetium are used in high refractive index glass, while a number of other REEs are used in magnets and lasers.

The discovery prompted the re-assay of previous drill results, looking for the hard to find and increasingly valuable group of seventeen metals. Rare earth metals – commonly referred to as rare earth elements – are required for essential components in most new high-tech devices like smart-phones and hybrid cars.

This morning Forte said that the first batch of results has revealed what its geologist had been expecting. The assays included several intersections with significant REE grades.

Eleven intersections were highlighted in the drill report. They varied in length between 3 and 31 metres, with TREO (total rare earth oxides) grades between 0.71 and 3.32 percent.

Forte is re-assaying drill core from two separate drill programmes – a 35 hole reverse circulation programme in 2007 and a follow-up diamond drill (DD) programme from 2008/2009.

These programmes resulted in Firawa’s maiden uranium resource of 11.6 million pounds (lbs) – 17.7 million tonnes grading 296 parts per million uranium.

Today’s results come from the RC programme.

“The assay results from the RC drilling programme are in line with the Company's expectation, given the shallow, widely spaced nature of this first drill programme,” Forte said.

“The subsequent DD programme was more detailed and intersected thicker sections of higher grade uranium mineralisation. It is anticipated forthcoming assay results from this programme should provide a more complete picture of the REE distribution.”   

The emergence of rare earth mining has been one of the big stories of recent times – particularly in North American and Australian markets. 

From an economic perspective it is very intriguing. Demand outstrips supply and vitally China controls 97 per cent of the production. Last year the People Republic imposed strict export controls which left tech-hungry western nations – and their massive technology firms - scrabbling around to secure new alternative sources of rare earths.

This has put rare earth miners and explorers firmly on the map for investors. 

Success at Firawa would make Forte one of a very small group of London listed firms to give investors exposure to REE's.

Forte Energy (LON:FTE, ASX:FTE) unveiled a new set of drill results from Mauritania with higher uranium grades than it has previously encountered.

The drilling work was carried out on the A238 and Tamreikat prospects in the northern part of the country.

Assays from A238 revealed uranium grades of up to 475 parts per million (ppm). The highlighted intersections ranged from 14 to 57 metres in length and the grades were between 203 and 475 ppm.

These results are from a relatively short reverse circulation (RC) campaign which was designed to supplement the 15,000 metre diamond drilling programme which is now drawing to a close. Forte said that it is currently drilling its last of eleven diamond drill holes. 

Importantly the RC programme successfully delineated thick intersections of higher grade mineralisation and several intersections had a significantly higher grade than previously recorded. 

Forte expects to complete a resource estimate for the A238 prospect in the coming months. 

"These drilling results from the A238 uranium prospect are higher grade than previous results and we look forward to the maiden JORC resource which is on track for later this quarter,” managing director Mark Reilly said. 

The Tamreikat results come from Forte’s maiden drill programme on the area, which was completed at the end of 2010. At Tamreikat, which is about 40 kilometres away from A238, Forte’s first pass drill programme found uranium all seven holes drilled.

The results included several thick intersections of moderate grade uranium. The highlighted intersections had lengths ranging from 6 to 26 metres with uranium grades between 204 and 548 ppm. Forte plans more drilling at Tamreikat in the fourth quarter, during the next drilling season.

Reilly added: “The results from a very cursory drilling programme at Tamreikat are also very pleasing and demonstrate the potential of the Company's extensive ground holdings to contain numerous centres of uranium mineralisation.”  

Separately in a quarterly cashflow and activities report Reilly said that Forte is please with the progress made during the March quarter. Moreover the group said it is 

Forte Energy is pleased with the progress made during the March quarter in advancing its exploration programmes in both and is excited by their potential for increasing uranium resources  in  both Mauritania and Guinea, as well as completing a maiden rare earth resource for the Firawa project in 2011.  

It said it is in a strong financial position to pursue these exploration programmes and progress pre-feasibility studies for the Firawa.

The results are from 17 drill holes of the recently completed reverse circulation drill programme. The company said that there are a still more results to come from a small number of holes, and they are expected imminently.

From this set of results the significant intersections range from 8 to 20 metres in length with between 215 and 456 parts per million uranium.

All the RC programme’s results will be incorporated into a maiden JORC compliant resource, along with the results of the ongoing diamond core drilling programme. Meanwhile a follow up drill programme will test A238’s recently discovered 'high grade shoot'.

It will drill between 6,000 - 7,000 metres of in-fill and extension drilling on the ‘high grade shoot’. The follow-up drilling designed to increase the size of the potential resource, and Forte believes it could allow it to report some of the resource in the indicated category.

Separately it plans to drill around 7,000 metres on some of its other priority uranium prospects.

Forte said that the current exploration programme is expected to be complete in the second quarter of 2011.

The company has been quite active in a fairly short period of time at A238. It began a 6,500 metre drill programme in October 2010 - with 5,000 metres of Reverse Circulation (RC) drilling and 1,500 metres of diamond drilling. Once this programme is completed, Forte will have drilled over 8,500 metres. 

After its last batch of results in February Forte said it has a clearer geological picture of A238. 

It released the results of 10 drill holes and the best assays had lengths between 4 – 30 metres grading 215 - 546 parts per million (ppm) uranium.

These latest results are from an area immediately north of the ‘main shoot’. Last month’s drill results from the ‘main shoot’ demonstrated a considerable increase in both thickness and grade from earlier results.

This morning Forte said that the latest 10 holes now provides a clearer geological picture of the transition from the narrow, low grade stacked veins outside the main shoot in the northern part of A238, into the thick high grade bulk mineralisation of the main shoot.

Drilling is ongoing on the main shoot and Forte plans to calculate a JORC resource at the beginning of next quarter.

Forte reckon it is likely that the ‘main shoot’ will contain the bulk of A238’s total uranium.

Forte has been quite active in a fairly short period of time at A238. It began a 6,500 metre drill programme in October 2010 - with 5,000 metres of Reverse Circulation (RC) drilling and 1,500 metres of diamond drilling. Once this programme is completed, Forte will have drilled over 8,500 metres. 

It plans to pause momentarily to assess the data and construct 3D models to help it plan a second phase of drilling – which would be carried out in the remaining weeks of the field season.

The exploration programme is being supported by a recent fundraising, in which Forte raised A$15 million with the issue of 120 million ordinary shares at 12.5 cents each.

As well as exploring A238 Forte also plans to explore the numerous other high priority prospects on its Mauritanian ground holding. It also plans to start the Pre-Feasibility work at its Firawa uranium-rare earth project in Guinea.

The latest results include assays from A238’s ‘main shoot’ target, for the first time in the current exploration campaign. As expected, the assays from this priority target demonstrate a considerable increase in both thickness and grade from earlier results outside this area.

Most of the nine holes featured in the results were drilled on the ‘main shoot’. The best results had widths between 31 and 80 metres with uranium grades ranging from 221 to 555 parts per million (ppm).

“These positive results provide comfort that a thick high grade zone exists in this section of the A238 anomaly,” the company said.

The company believes it is likely that the ‘main shoot’ will contain the bulk of A238’s total uranium.

Forte has been quite active in a fairly short period of time at A238. It began a 6,500 metre drill programme in October 2010 - with 5,000 metres of Reverse Circulation (RC) drilling and 1,500 metres of diamond drilling.

Once this programme is completed, Forte will have drilled over 8,500 metres. It plans to pause momentarily to assess the data and construct 3D models to help it plan a second phase of drilling – which would be carried out in the remaining weeks of the field season.

Forte said it may decide to incorporate the phase one drill results into a preliminary maiden resource estimate, while the second phase of drilling is underway.

The exploration programme is being supported by a recent fundraising, in which Forte raised A$15 million with the issue of 120 million ordinary shares at 12.5 cents each.

As well as exploring A238 Forte also plans to explore the numerous other high priority prospects on its Mauritanian ground holding. It also plans to start the Pre-Feasibility work at its Firawa uranium-rare earth project in Guinea.