FORTE ENERGY NL
ACN 009 087 852
ASX/AIM CODE: FTE
Telephone: +618 9322 4071, Fax: +618 9322 4073
ASX, AIM and Media Release
19 July 2010
FORTE ANNOUNCES MAIDEN HIGH-GRADE JORC RESOURCE FOR MAURITANIA URANIUM PROJECT
Initial Indicated and Inferred Resource - 2Mlb of contained U3O8 at 704ppm
* Maiden JORC resource estimate completed for Bir En Nar Uranium Project, Mauritania (West Africa)
* Initial Indicated and Inferred Resource of 1.33Mt @ 704ppm U3O8 for 2.06Mlbs of contained U3O8 (100ppm cut-
off), comprising:
o Indicated Resource of 0.55Mt @ 886pm U3O8 for 1.07Mlbs of contained U3O8
o Inferred Resource of 0.78Mt @ 575pm U3O8 for 0.99Mlbs of contained U3O8
* Mineralisation remains open down-dip in many areas with evidence for another mineralised zone between the
Northern and the Southern Zones
* Resource follows 5,575m diamond and Reverse Circulation ('RC') drilling programme completed earlier this year
International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") is pleased to report a
maiden JORC Code compliant mineral resource estimate for its 100%-owned Bir En Nar Uranium Project, located in
Mauritania, West Africa.
The resource, which was independently estimated and verified by Coffey Mining Pty Ltd, comprises an Indicated and
Inferred Resource of 1.33Mt grading 704ppm U3O8 for 2 million pounds of contained U3O8 (using a 100ppm U3O8 cut-off).
This is the Company's first JORC resource in Mauritania and complements the initial JORC resource inventory of 17.7Mt @
296ppm U3O8 (11.6 million pounds of contained U3O8) announced last year for its Firawa Uranium Project in the Republic
of Guinea.
Key features of the Bir En Nar resource are its exceptional grade and the fact that it remains open in several areas,
with potential to expand relatively quickly with additional drilling.
Commenting on the maiden resource, Mark Reilly, Managing Director, Forte Energy said: "Bir En Nar is a high grade
deposit which remains open at depth in several areas, including evidence for another mineralised zone between the
Northern and the Southern Zones. The next drilling campaign will target these areas as well as improve the data from the
RC holes which could not be incorporated in this initial resource statement.
"Forte Energy considers this to be a base number for the mineral resource. The independent consultant has not used the
results from the gamma logging carried out in conjunction with the 2007 RC drilling programme. Forte Energy is planning
further work at Bir En Nar including further drilling to verify the data which we believe will increase both the tonnage
and the grade of the deposit.
"Bir En Nar has provided us with a good platform as we continue our strategy to build up several high grade resources in
our Mauritania portfolio," Mr Reilly added. "We look forward to the RC drilling results from our second priority target,
Bir Moghrein, later this Quarter and to re-commencing drilling at Bir En Nar to lay the foundations for our next JORC
resource statement."
Bir En Nar Uranium Resource
The resource is summarised below using a range of different cut-off grades:
Bin En Nar Uranium Project, Mauritania
Resource Statement -15July 2010
Reported above various lower grade cut-offs
Reported using a Dry Bulk Density on 2.69t/m3
Rotated Ordinary Kriged Estimate Using 2m Cut U3O8 Composites
Parent Cell Dimensions of 5m X by 20m Y by 10m Z
Cut Off Tonnes U3O8 Kg U3O8 Lb U3O8
(ppm) (ppm)
Inferred
100 780,000 575 449,000 990,000
200 748,000 593 443,000 977,000
300 588,000 684 402,000 886,000
350 530,000 723 383,000 844,000
400 462,000 774 357,000 787,000
Indicated
100 550,000 886 488,000 1,076,000
200 526,000 920 484,000 1,067,000
300 510,000 941 480,000 1,058,000
350 496,000 958 475,000 1,047,000
400 480,000 977 469,000 1,034,000
Combined Indicated and Inferred
100 1,330,000 704 936,000 2,064,000
200 1,273,000 728 927,000 2,044,000
300 1,098,000 803 882,000 1,944,000
350 1,025,000 837 858,000 1,892,000
400 942,000 878 826,000 1,821,000
Bosse Gustafsson is the Competent Person responsible for the Drilling Assay Database, QA/QC validation and density
measurements. Neil Inwood is the Competent Person responsible for the resource estimation and classification.
Drilling through the Bin En Nar deposit is predominantly spaced at 35m intervals in a south-south-west direction. The
drilling database comprises a total of 50 diamond drill holes and 45 RC drill holes which were used to define the
geometry and grade of the mineralisation.
The majority of drill holes were collared at an orientation of approximately 230° (UTM) and have a dip of approx 50° to
60°. The location of the diamond and RC drill collars in the vicinity of the main zone of mineralisation is shown in
Figure 1.
The maiden resource has been estimated using chemical assays as the primary dataset for the RC and diamond drill holes.
The diamond core was halved by diamond saw for assaying. The RC samples were collected in a cyclone then riffle split to
obtain a 1/8th sample for assaying.
An Auslog total gamma probe was also used to measure U3O8 content in the RC holes. This tool was calibrated at the
Pelindaba testing facility in South Africa and operated by professional consultants based in Botswana. The Company notes
that total gamma eU3O8 logging of Auslog probe indicates the potential for an upgrade in the grade of some of the RC
holes (which constitute 42% of the drilling data), often by a factor of two times to the current chemical data, over
similar length intervals.
Further work is underway to determine if this effect is due to a calibration issue with the tool used, and/or a sampling
effect of the RC drilling. Separate spectrometer radiometric logging of the diamond holes produced similar results to
that of the diamond chemical data. The chemical assays have been used as the base case for grade reporting from the RC
drill holes until it can be demonstrated that the RC radiometric data is reporting correctly.
Chemical uranium assays where completed by ALS Chemex (Mali) using ICPMS method ME-MS61 or Genalysis (Perth- Australia)
using ICPMS.
Chemical uranium assay results make up 96% of the composite data used in the mineralised zone (461 - 1m assays).
Where there were no chemical assays, eU3O8 spectrometer data was used for the diamond holes (18, 1m composites) and one
intersection of the RC total gamma eU3O8 data was also included (2, 1m composites).
To view Figure 1 Bin En Nar Uranium Deposit - Drilling Location Plan and Type, please open the following link in a new
window: http://media3.marketwire.com/docs/Forte_Figure_1.pdf
The mineralisation zone interpretation was constructed based on a nominal 100ppm U3O8 drill hole grade with a minimum
down-hole interval of 2m. The bulk of the mineralised domains dip steeply towards the north-north-east and are depicted
in Figure 2.
The raw assay grades were composited to a 2m down-hole interval, with any residuals (i.e. samples less than 1.2m) added
to the preceding interval using length weighting. Statistical analyses on the 2m U3O8 composites were completed prior to
estimation. Variography and neighbourhood testing were conducted as inputs into grade estimation.
High grade cuts for U3O8 were applied to the 2m composite data within the mineralisation domain prior to estimation. The
high grade cut was selected based on an assessment of distribution statistics, including frequency distribution plots
and ranked grade charts. A 4,000ppm top cut was applied to the composites for the Northern Zones (resulting in a 5%
decrease in grade for the 5 composites cut) and 1,800ppm U3O8 for the Southern Zone (resulting in an 11% decrease in
grade for the 4 composites cut).
The method used to obtain the U3O8 grade estimates was Ordinary Kriging using the cut 2m composites. Parent cell
dimensions of 20m Y by 5m X by 10m RL were used with sub-celling to 5m Y by 0.3125m X by 2.5m RL to enable adequate
volume resolution.
An in-situ dry bulk density (ISBD) on 2.69t/m3 was applied to the mineralised zones based upon the average value of 845
water immersion density readings taken by Forte personnel.
Resource classification was developed from the confidence levels of key criteria including drilling methods, geological
understanding and interpretation, sampling, data density and location, grade estimation and quality. The current
resource is reported as Inferred and Indicated. Mineralisation was extended up to 25m along strike of known drilling and
no more than 40m down dip of known drill intercepts.
To view Figure 2 Bin En Nar Uranium Deposit - Mineralisation Interpretation Section Showing U3O8 Grade Bars, please open
the following link in a new window: http://media3.marketwire.com/docs/Forte_Figure_2.pdf
The mineralisation remains open down dip in many areas; and there is evidence for another mineralised zone to the
southwest of the main zones which have currently been modelled. However, the quantity of the drill hole data was not
sufficient to allow inclusion of this zone in the Resource estimate.
To view Figure 3 Forte Energy's exploration permits in Mauritania, please open the following link in a new window:
http://media3.marketwire.com/docs/Forte_Figure_3.pdf
Mark Reilly
Managing Director
For further information contact:
Mark Reilly, Managing Director
Forte Energy N.L. Tel: +44 (0) 203 300 0187
Alastair Stratton/Tim Graham
Matrix Corporate Capital LLP Tel: +44 (0) 203 206 7000
Conduit PR
Jos Simson/Emily Fenton Tel: +44 (0) 207 429 6603
Stuart Laing
RFC Corporate Finance Ltd Tel: +61 (0) 8 9480 2506
(AIM Nominated Adviser to the Company)
Note:
The Mineral Resource at Bir En Nar is based on information compiled by Mr. Bosse Gustafsson who is employed by Forte
Energy NL and Mr. Neil Inwood who is employed by Coffey Mining Ltd. Mr. Gustafsson last visited the Bin En Nar site in
March 2010. Personnel from Coffey Mining visited the site from March 9 to 17, 2010.
Mr. Gustafsson and Mr. Inwood have sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which they have undertaking to qualify as a Competent Person as defined
in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Reserves".
The information in this report that relates to the Mineral Resource at Firawa in Guinea is based on information compiled
by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Doug Corley of Coffey Mining Ltd. Mr. Gustafsson and Mr. Corley have
sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to
the activity which they have undertaken to qualify as a Competent Person as defined in the 2004 Edition of the
"Australasian Code for Reporting of Mineral Resources and Reserves".
Mr. Gustafsson is a member of the European Federation of Geologists a Recognised Overseas Professional Organisation
("ROPO"). Mr Bosse Gustafsson is a full time Technical Director of Forte Energy NL and is responsible for exploration
activities in Mauritania and Guinea. Mr. Gustafsson, Mr. Inwood and Mr. Corley consent to the inclusion in this report
of the matters based on their information in the form and context in which it appears.
Forte Energy NL