Forsys Metals is an advanced stage explorer with world-class assets under development in Namibia, Africa. The company has the capability to capitalize on attractive mid and long-term uranium sector dynamics by focusing on enhancing the wholly owned Norasa Uranium Project. Forsys, through extensive exploration and technical programs has reported substantial uranium resources and reserves. The total Proven and Probable Reserve is 206Mt at a grade of 200ppm, which equates to 91Mlbs of U3O8.
A NI 43-101 Feasibility Study was released in March, 2015 and describes the Mineral Resource and Reserve estimation and economic analyses to a Definitive Feasibility study level for Norasa.
Our uranium related activities are focused on:
The Valencia Uranium Project (ML149) is fully licensed for 25 years and is one of only a handful of new uranium projects around the globe that are scheduled to commence production in the next few years. Norasa’s robust financial model underpins our strategic position to participate in an energy sector that is enjoying very positive long-term fundamentals and to participate in the increasing worldwide dependence on nuclear power. In addition, the Company believes that potential exists to increase uranium reserves at Norasa including the potential for finding additional uranium below the existing pit shell and from known satellite deposits.