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Forsys Reports Additional Interim Drilling Results from Norasa

Forsys Metals Corp
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Forsys Metals Corp
Forsys Metals Corp

TORONTO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”)

Forsys is pleased to announce further interim drilling results from its Resource Extension and Exploration drilling program on Valencia (ML 149), at the Company’s Norasa Uranium project (“Norasa1”). The drilling program currently underway is designed to expand and upgrade Valencia’s resources within and close to the current main pit. Positive results indicate good potential to increase the resource and grade level at Valencia.

Highlights

Highlights are as follows:

  • 20,597 metres (“m”) of drilling have been completed in 211 boreholes since February 2024;

  • Drilling at the Jolie Zone includes an intercept of 308 ppm eU3O8 over 23m from 18m to 41m depth in drillhole VA24-061;

  • At Valencia West, all 37 drillholes intersected uranium mineralisation. The best results include an intercept of 240 ppm eU3O8 over 58m from 157m to 215m depth in drillhole VA24-083A;

  • Infill drilling at the Valencia main deposit intersected 481 ppm eU3O8 over a 63m interval in drillhole VA24-127 and 306 ppm eU3O8 over a 91m interval in drillhole VA24-175;

Pine van Wyk, Forsys Country Director commented: “Drilling results obtained to date demonstrate good potential to expand and upgrade the resources to support the Norasa development strategy. The continuity of mineralization at Valencia West and Jolie Zone highlights opportunities to extend the potential mine life and enhance project economics.”

Summary

A total of 20,597.08m of drilling has been completed in 211 boreholes since the drilling program commenced in February 2024. To date, assays from 70 drillholes have been received and 19,092 down-hole metres have been surveyed with a gamma ray spectrometer (“downhole gamma”). Assay results in Table 1 and in the text are denoted U3O8, while grades calculated from downhole gamma are represented by eU3O8.

  • 12 drillholes at the Jolie Zone target in 2024 identified two zones of sub-parallel mineralised alaskite intrusions (Zones 1 and 2), which are approximately 50m apart (Figures 1 and 4). These zones strike NE-SW and are both open-ended to the SW along strike and at depth, whereas Zone 2 is also open-ended to the NE. Results from Jolie include 308 ppm eU3O8 over 23m from 18m to 41m depth (Zone 1 in drillhole VA24-061) and 166 ppm eU3O8 over 74m from 57m to 131m depth (Zone 2 in drillhole VA24-099). The SW and depth extensions of mineralisation are currently being tested by a further six drillholes, aiming to increase the known strike extent to 300m.

  • Exploration drilling at Valencia West has defined additional mineralised ground to the west of the Valencia main orebody. Positive results could potentially extend the main pit to the west. All of the 37 drillholes completed in the area during 2024 intersected uranium mineralization (Figure 1). Results include 240 ppm eU3O8 over 58m from 157m to 215m depth in drillhole VA24-083A. Recent drillholes have linked Valencia West to the Valencia Main resource, including drillhole VA24-189 with 200 ppm eU3O8 over 22m from 89m to 111m depth (Table 1). Further drilling is in progress to establish intersections and grade for detailed resource modelling at Valencia West (Figure 1).

  • Infill drilling is aimed at converting an existing 22 Mt Indicated Resource into Measured category (Figures 1 and 2). Intersections include 481 ppm eU3O8 over a 63m interval in drillhole VA24-127 and 306 ppm eU3O8 over a 91m interval in drillhole VA24-175 (Table 1).

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