Forsys Reports Further Drilling Results from Norasa
High-Grade Intercepts Conclude 2025 Program as Forsys Prepares for Resource Re-Rating
The most recent news release (January 15, 2026) reports the final drilling results from the 2024-2025 program at the Norasa Uranium Project (Valencia deposit) in Namibia. The company completed 17,532 meters (209 holes) using diamond and RC drilling. Key findings include high-grade intercepts in the Jolie Zone (736 ppm U3O8 over 11m) and Valencia West (682 ppm U3O8 over 5m). The drilling confirmed resource extension potential at the Valencia Main pit, specifically identifying a 150m extension to the west. This concludes the field portion of the program, with the company now pivoting to an updated Mineral Resource Estimate (MRE).
The news is Material - Positive for three primary reasons: - Grade Improvement: The reported intercepts (up to 736 ppm) are significantly higher than the project’s current Measured & Indicated grade of 136 ppm. If these grades are incorporated into the upcoming MRE, they could meaningfully improve the project's average head grade and mine economics. - Resource Continuity: The drilling successfully linked "Valencia West" to the "Valencia Main" resource, simplifying potential pit designs and reducing the waste-to-ore stripping ratio. - De-risking: By concluding the program with consistent mineralized intercepts across the Valencia Main, West, South, and Jolie zones, the company has provided the necessary data to upgrade Inferred resources into Indicated and Measured categories.
Forsys Metals is focused on the Norasa Uranium Project in Namibia, which consists of the Valencia (Mining Licence ML-149) and Namibplaas (EPL-3638) deposits. Norasa is one of the few uranium projects globally with a 25-year mining licence already in hand. The project is characterized by large, low-grade mineralized systems. The current strategy relies on massive scale and technology (ore-sorting/HPGR) to achieve economic feasibility.