FTE.L Share News (FTE)

Forte Energy NL, the AIM-listed uranium company focused on the development of a portfolio of uranium assets, has unveiled positive assay results from its drilling campaign in Mauritania, West Africa.The Australian company reported that drilling and assay results confirmed intermittent narrow mineralisation over a strike length of 0.5km to the north of the existing "A238 Resource".A structural model developed from drilling and ground surveys would be used to identify other prospective structural targets within the Forte licences, it said.A total of 12 holes were drilled to 2.0km north of the company's existing A238 Resource at 200m spacing. Positive assay results from five of the holes located over 0.8km to the north of A238 indicated "narrow mineralised structures over a strike length of 0.5km," the company said. Assay results from RC 222 indicated intermittent mineralisation from 53m to 100m below surface, with grades of up to 567 parts per million (ppm) U3O8, a mixed uranium product.A total of 13 holes were drilled to the south and all of the holes confirmed the structural extension of the Zednes shear zone to the south, but none of which identified uranium mineralisation.Three holes were drilled at the south eastern end and outside of the A238 Resource with RC 219 potentially increasing the width of the mineralisation.Commenting on the results, Mark Reilly, Managing Director of Forte Energy, said: "These latest drilling results provide further evidence of a mineralised structure to the north of our existing resource as well as a continuation of the Zednes Shear Zone to the south. Our strategy remains to drill out additional nearby targets in the A328 license, as well as the calcrete deposits at Hassi Baida, and add further to our substantial existing resource base in Mauritania".MF