Forsys Metals Corp has started the 2024 drilling program at its Valencia Uranium Project in Namibia.
The Valencia Uranium Project under mining licence 149 is part of Forsys Metals, Norasa Uranium Project.
Forsys Metals owns the Norasa project, which has a 25-year mining licence, and has a 100% interest in the Namibplaas project under EPL 3638.
Valencia project, on the farm Valencia 122, about 75km northeast of the town of Swakopmund, covers 735.6 ha.
The company says it has started the drilling program by investigating three zones of potential mineralisation outside the existing resource block model.
The drilling program focuses on three target areas: the Jolie Zone (~ 1km north of Valencia pit), Valencia West Extension and Valencia South.
Forsys Metals has scheduled to drill 29 boreholes targeting 5.236m to assess mineralisation to depths of up to 380m below the collar.
The company said on Tuesday that the three areas of mineralisation potential were delineated from historical exploration work, which included aerial photo interpretation, geological mapping, aeromagnetic surveys, airborne and ground scintillometer surveys, and exploration drilling.
“Investigation by drilling is required to define the mine’s surface infrastructure development and explore resource upside potential in these areas,” Forsys Metals said.
Forsys Metals provided the 2023 assay results from Valencia 2023, where it drilled 2.684.44 metres using 15 boreholes.
The drill program sought to test and assess pit slope stability and optimise pit design.
It also sought to test the continuity of mineralisation for resource modelling and confirm mineral resource estimation (MRE) parameters.
Forsys Metals sent 819 samples from 10 boreholes for testing to establish quality control protocol and procedures.
The company says the chemical results show the intersecting of multiple zones of massive alaskite intrusions and confirm uranium mineralisation in all six confirmed boreholes.
“Best mineralised borehole PQ-5 intersected 77.34 m of continuous mineralisation, averaging 439 ppm U3O8, including 41.9 m of 683 ppm U3O8,” Forsys Metals says.
