Forte Energy

Full Forte Energy profile here

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 commences drilling at Bir En Nar Uranium Project

Tuesday, September 01, 2009
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International uranium project developer Forte Energy (ASX: FTE, AIM: FTE) has re-commenced drilling at its Bir En Nar Uranium Prospect in Mauritania, west Africa.

This follows on from the maiden drilling undertaken in December 2007. down-hole radiometric logging results from the maiden Reverse Circulation (RC) drilling programme carried out in December 2007. 

This included seven holes containing intercepts exceeding 5,000ppm eU3O8, with a maximum intercept of 1.55m at 18,280ppm eU3O8.

Mark Reilly managing director of Forte Energy said this drilling programme is expected to take approximately two months to complete and will comprise up to 60 holes of diamond core drilling of up to 180m in length for a planned total of 6,000m of drilling.

Forte (and French nuclear company), Areva NC have an agreement to develop the company’s Mauritanian assets if a minimum of 60-80 million pounds of JORC Code compliant inferred uranium resources can be established within two years.

Reilly said the drilling programme has been prepared in consultation with technical specialists from Areva.

He said that the additional results from the current drilling programme will enable calculation of an initial JORC compliant uranium resource for the Bir En Nar prospect.

A short RC drilling programme of around 2,000m is also planned for later this year at several identified targets at Bir Moghrein in Mauritania.

Investors may recall that Forte has defined an initial JORC resource of 17.7Mt @ 296ppm U3O8 for 11.6Mlbs of contained U3O8 (100ppm cut-off) for its Firawa Project in Guinea.


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Additional Information

Market:AIM / ASX
Sector:General Mining - Uranium & Lithium
EPIC:FTE
Latest Price: 4.34p  (0.00%)
52-week High:12.25p
52-week Low:4.34p
Market Cap:25.20M

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