Namibia’s Norasa Uranium Project is steadily moving closer to production, with Forsys Metals Corp. launching a new 12,500-metre drilling programme at the Namibplaas deposit in August 2025.
The campaign is expected to upgrade resource classification and expand the potential of a project that has remained dormant for over a decade, yet is now central to Forsys’s ambition to bring Namibia’s next uranium mine into operation by 2030.
The Norasa Uranium Project is the consolidation of two adjacent deposits—Valencia and Namibplaas—located near the town of Usakos in Namibia’s Erongo Region.
The project lies within one of the world’s most prolific uranium provinces, home to major mines such as Rössing and Husab.
Valencia, the older of the two deposits, was first discovered in the 1970s but only gained serious traction in the early 2000s when Forsys acquired the asset and completed extensive exploration.
Namibplaas, located just three kilometres northeast of Valencia, was added to Forsys’s portfolio later and has since become a key part of the company’s growth strategy.
The Namibian government granted Forsys a 25-year mining licence (ML-149) for Valencia in 2010, valid through to 2033.
Namibplaas, by contrast, has remained under an Exclusive Prospecting Licence (EPL 3638), although the company secured full access rights to the land in December 2024.
Together, Valencia and Namibplaas form a contiguous project area known as Norasa. According to the most recent NI 43-101-compliant technical report, the Norasa Project hosts total resources of 47.8 million pounds of U₃O₈.
Valencia contains measured and indicated resources of 25 million pounds of U₃O₈ and inferred resources of 8.6 million pounds.
Namibplaas contains inferred resources of 14.2 million pounds. Based on conservative long-term uranium pricing of US$65 per pound, the in-ground metal value of Norasa’s resource could exceed US$3 billion, excluding future expansions or improved grades resulting from infill drilling.
Forsys completed a definitive feasibility study for Valencia in 2015 but shelved development due to low uranium prices at the time.
With the uranium market now in recovery, driven by global energy transition goals and increasing adoption of nuclear power, Norasa has re-emerged as a viable near-term production candidate.
Following land consolidation and renewed exploration momentum, Forsys is aiming to complete an updated resource estimate by early 2026, with a revised feasibility study expected later that year.
If development approvals and financing align, construction could begin in 2027, with first uranium production targeted between 2028 and 2029.
In August 2025, Forsys launched a 12,500-metre drilling programme at Namibplaas—its most substantial exploration effort since acquiring the property.
The goal is to upgrade the current inferred resource to the measured and indicated categories, which are essential for mine planning and economic modelling.
The campaign includes 64 drill holes: 44 for resource classification, 12 for geotechnical and metallurgical analysis, and 8 for testing new targets, such as Area A—a radiometric anomaly west of the known deposit that has never been drilled.
This could add further upside to the resource base.
The drilling is supervised by Dr. Guy Freemantle of The MSA Group, acting as the Qualified Person under Canadian NI 43-101 standards.
Early mobilisations and roadworks began in July, with complete drilling expected to continue into the fourth quarter of 2025.
Namibia is increasingly positioning itself as a stable supplier of nuclear fuel minerals, with uranium considered vital under the country’s Sixth National Development Plan.
Norasa’s revival aligns with broader national efforts to capitalise on the current uranium price rally and promote value-added production.
Forsys’s strategy also aligns with global demand trends, particularly from utility buyers seeking long-term, politically stable sources of uranium outside of Russia and Central Asia.
With much of Namibia’s uranium output already committed to Asian and European buyers, Norasa could serve as a new pillar of national production.
With over US$50 million already invested in exploration, feasibility work, and permitting since 2005, Forsys is now pushing Norasa closer to shovel-ready status.
The 2025 drilling campaign is not just about increasing confidence in the resource—it is about unlocking a project with multi-decade production potential and embedding it into the next wave of Namibia’s uranium future.
