Forte Energy to commence drilling in Mauritania

AIM-listed Uranium explorer Forte Energy NL has signed a contract with Wallis Drilling Africa for approximately 5,000m of NQ Aircore drilling in the highly prospective areas close to the A238 prospect and at Hassi Baida in Mauritania.

By MoneyWeek

published 10 April 2013

in Features

An operational update issued by the company showed that drilling was scheduled to start in Mid-May, following the shipment of the drill rig to Mauritania.

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The drilling programme will target eight separate prospects within the Hasi Baida licence. The targets are all uranium in superficial calcrete deposits.

The 5,000m programme will also include aircore scout drilling which will target blind, near surface metasomatite style uranium mineralisation along interpreted major structural corridors close to the A238 Prospect.

Commenting on the update, Mark Reilly, Managing Director of Forte Energy, said: "The additional drilling of the calcrete as well as the metasomatite style deposits in close proximity to our existing resources is consistent with our stated strategy of proving up a number of economically viable deposits within our licence areas in Mauritania.

"Forte remains committed to being at the forefront of Mauritania's uranium mining industry and looks forward to commencing the drilling campaign within the next month."

Forte Energy's share price was down 2.35% to 0.83p at 11:23 on Wednesday.

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