StockMarketWire.com
Uranium company Forte Energy has revealed that assay results have confirmed mineralisation at a depth below the existing resources at the A238 prospect in Mauritania.
An initial reverse circulation programme of 3,000m was started at the Hassi Baida calcrete area on the 6 February and is scheduled to be completed by the end of the month.
The company said the initial drilling programme at A238 completed with 63 holes totalling 8,567m and further assay results from seven longer holes have confirmed mineralisation at depth below the current resource model.
Approximately 75% of the assay results have been received with the remainder due before the end of March.
Managing director Mark Reilly said|: "The latest assay results continue to demonstrate that the A238 Prospect has significant potential above our initial JORC resources of 14.9m lbs of U3O8.
"The recent drilling campaign, which is now completed on A238, has significantly increased our understanding of this high quality uranium ore body, which remains open at depth and along strike.
"Once Forte has received the assay results for the remaining 25% of the drilling on this project, we look forward to upgrading the current resource by the end of next month."