Forsys Metals says one of the boreholes at the Norasa Uranium Project has returned an average of 194 ppm U3O8 over a 232-meter interval.
The Norasa Uranium Project comprises the Valencia Uranium deposit under mining license 149 and the nearby Namibplaas Uranium deposit under EPL 3638 in the Namib Desert.
Forsys Metals announced in February that it would complete a broad-ranging initiative to reassess its 2015 feasibility study for the Norasa Project in mid-2024.
Since then, the company has drilled 4,332 metres in 32 boreholes and received results from 21 boreholes.
The drilling program strategy is to expand and upgrade the Valencia resources adjacent to the central pit and the north and northeast of the pit.
To date, drilling has focused on two zones that have the potential to extend the Valencia Main deposit, at Valencia West and Valencia South, to depths of up to 380 metres below the surface.
The best-mineralised intercept is in borehole VA24-022, drilled at Valencia South, which has 232 metres of continuous intersection, sub-parallel to the main direction of mineralisation, from the surface, averaging 194 ppm U3O8. This includes 43 m at 416 ppm U3O8 to the bottom of the pre-collar percussion hole.
Forsys has identified additional resource potential at the Jolie Zone, Valencia East, Bundu, and Valencia North, where 28 boreholes are scheduled, comprising 2,280 metres of drilling across the four targets.
One of the three boreholes at the Jolie Zone intersected 41 metres of mineralisation at 185 ppm U3O8.
At the Valencia East deposit, about 500 m northeast of the central pit, Forsys has planned 14 boreholes to test the existing resource and potentially extend the deposit.
Forsys discovered mineralised granite, named the Bundu Zone, about 1 km northeast of the main pit, where the company initially planned three boreholes.
The company is testing the Valencia North prospect, about 1 km north of the Valencia pit, with three boreholes.
