Drilling at Forsys Metals’ Valencia deposit in Namibia has returned a standout intercept of 623 ppm eU₃O₈ over 11 metres at the Jolie Zone, followed by 407 ppm over 53 metres and 364 ppm over 55 metres at Valencia Main, 338 ppm over 13 metres and 282 ppm over 54 metres at Valencia South, 271 ppm over 9 metres at Valencia West, and 184 ppm over 25 metres at Valencia East.
Since February 2025, Forsys has drilled 11,739 metres in 115 boreholes, with 10,832 metres of downhole gamma survey results processed across Valencia Main, Valencia South, Valencia West, Valencia East and the Jolie Zone.
At Valencia Main, 74 boreholes covering 5,787 metres were drilled to upgrade 26 million tonnes of Indicated Resource to Measured status.
Results included 407 ppm eU₃O₈ over 53 metres in VA25-229 and 364 ppm eU₃O₈ over 55 metres in VA25-264.
These infill holes continue to highlight the potential to add ore tonnage and reduce the stripping ratio within the modelled pit.
At Valencia South, two boreholes totalling 180 metres tested the down-plunge extension to the south of Valencia Main.
Drillhole VA25-289 returned 338 ppm eU₃O₈ over 13 metres and 282 ppm eU₃O₈ over 54 metres, aimed at increasing and upgrading the indicated resource in this area.
At Valencia West, seven boreholes covering 992 metres intersected mineralisation down dip and along strike. Results included 271 ppm eU₃O₈ over 9 metres in VA25-288. Drilling indicates mineralisation extends approximately 250 metres horizontally, remains open at depth, and may allow the Valencia Main pit to be extended about 150 metres westward.
The drill spacing is considered sufficient for this zone to be classified within the Indicated Resource category.
At Valencia East, 11 boreholes totalling 1,574 metres were drilled to extend and upgrade the historic resource. Drillhole VA25-295 returned 184 ppm eU₃O₈ over 25 metres.
Extension drilling to the south of the historic resource has identified additional mineralisation along strike and down dip, while infill drilling targets a potential upgrade to Indicated status.
At the Jolie Zone, 12 boreholes, totalling 2,009 meters, identified two sub-parallel mineralised intrusions approximately 50 metres apart.
Continuity of mineralisation has been confirmed over a strike length of approximately 350 metres. Highlights included 623 ppm eU₃O₈ over 11 metres in VA25-273.
These results enhance the potential to estimate additional mineral resources in the area.
Forsys Country Director Pine van Wyk said preparations have been completed at the Namibplaas uranium property, located nearby, where drilling is scheduled to begin in September 2025.
He noted that the extension and exploration drilling programs at both Valencia and Namibplaas are advancing steadily and will support the delivery of an updated mineral resource estimate for the Norasa Uranium Project.
