Forsys Metals expects to complete a broad-ranging initiative to reassess its 2015 feasibility study for the Norasa Project in Namibia in mid-2024.
The Norasa Uranium Project comprises the Valencia Uranium deposit under mining licence 149 and the nearby Namibplaas Uranium deposit under EPL 3638 in the Namib Desert.
Forsys has done extensive work on the deposits from 2006 to 2015, with nearly 290,000 metres of drilling, resource estimation, and processing test work.
The technical reports previously prepared supporting the 2015 feasibility study demonstrated significant, proven, and probable mineral reserves of 91 Mlb.
In addition, the 2015 feasibility study demonstrated a measured and indicated resource of 115 Mlb and an inferred resource of 11 Mlb.
Forsys wants to improve the Norasa project’s economics by optimising pit parameters and examining the possibility of using heap leaching in mineral processing.
The work program began in mid-2023 and is anticipated to finish in mid-2024.
Forsys is focusing on a 4,100-metre drilling program to enhance geotechnical assessments and obtain fresh ore samples for additional metallurgical test work.
The company is also using geotechnological optimisation of pit parameters to reduce the stripping ratio.
In addition, Forsys is evaluating alternative metallurgical processes, including heap leaching, to reduce capital and operational expenses.
Forsys holds a 25-year mining licence for the Valencia deposit, valid until 2033.
Additionally, Forsys is actively engaging the mines to renew EPL 3638 for further pit optimisation work at the Namibplaas site.
Last year, Forsys renewed its environmental clearance certificate for a further three-year term.
This allows Forsys to advance the development plans for the Norasa project.
The ECC renewal process evaluated the company’s environmental management practices, including waste management, emissions controls, biodiversity protection, and community engagement, among other factors.
Forsys is also securing additional permits, encompassing land surface rights, accessory works, radiation management, linear infrastructure development, and desalination.
