Forsys Metals updates key aspects of Norasa mine study



Canadian uranium miner Forsys Metals Corp. says the studies and reviews currently ongoing at their Norasa project in Namibia are crucial for updating critical aspects of the 2015 definitive feasibility study.


Norasa, the company's flagship project, includes the wholly owned Valencia project (ML 149), which has a 25-year mining licence and a 100% interest in the Namibplaas project (EPL 3638), which is located 7.5 km northeast of Valencia. 


Both projects have NI 43-101 compliant uranium resources and reserves. 


The properties are located in the Republic of Namibia, located approximately 75 km southwest of the town of Usakos in central-west Namibia and are known as the Norasa Uranium Project.


Valencia is situated on the farm Valencia 122, located approximately 75km north-east of the town of Swakopmund in central-west Namibia, covering an area of 735.6 ha and is registered in the name of Valencia Uranium (Pty) Ltd. 


ML 149 was converted from EPL 1496 on 23 June 23, 2008, and is valid for 25 years from the date of issue by the Namibian Ministry of Mines and Energy ("MME") and is renewable.


The entire Valencia mineral licence area is located on privately held farmland. As the law requires, an agreement must be entered between a mineral licence holder and the landowner to allow exploration activities. 


To progress a project to mine development, a compensation agreement is required to offset the effects of the operation. 


In April 2009, Valencia Uranium entered into a compensation agreement with the owner of the farm Valencia 122, in relation to Section 52 of the Minerals Act of 1992, granting Valencia Uranium unrestricted use of the land on and around ML 149 covering an area of 3,327 hectares. 


A similar agreement was reached with the owners of the neighbouring 594-hectare farm "Bloemhof 109", located to the south, to construct additional infrastructure and primary access to the Valencia site.


The Norasa uranium project represents one of the largest uranium resources in Namibia, having an estimated 48,200 tU in ore grading 0.014-0.0167% uranium. 


The Valencia deposit was named after the farm where the uranium deposits were found.


The mine is expected to produce 18 million tonnes of uranium annually over 11 years if built. 


Forsys Metals Corp. is a uranium-focused development company with 100% ownership of the Norasa project that comprises the Valencia and Namibplaas uranium projects in Namibia.


Forsys Metals Corp. Mark Frewin, Forsys CEO, said they hoped these would highlight opportunities to enhance the economics of the Norasa Project. 


The company recently appointed Pine van Wyk to lead the advancement of the Norasa Project, and he has assembled a highly experienced local project team of geologists, process engineers and mining experts. 


Frewin also welcomed Pine to the team, saying his appointment is an invaluable addition to the company and reinforces the commitment to developing the Norasa Project.


Pine is a qualified Metallurgical Engineer with over 25 years of project experience in the African mining industry in senior operational, executive committee management and directorship roles. 


He has extensive uranium mining experience having worked at both Rossing Uranium (8 years) and Langer Heinrich Uranium (PTY) Ltd. (4 years), in addition to consulting for Extract Resources Limited during the Husab Uranium Mine's development stages as lead review consultant. 


During the past 18 months, Pine has led the Rossing Uranium Life of Mine extension study. 


Under Pine's leadership, the technical team is evaluating optimization processes and strategies to improve Norasa's mine design, process engineering, utilities, infrastructure and the overall economics of the previously released 2015 Definitive Feasibility Study. 


Pine's team will review and update all geology data and slope parameters and examine how newer, alternative mining equipment and technologies can enhance pit design, recovery and slope angle to improve mining and process costs. 


The company will update these ongoing studies as they become available.





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