With this review, the company’s total JORC compliant resources increase by 70% to 76.5 million pounds U3O8.
The review is designed to provide a JORC compliant resource estimate in compliance with Australian standards as the previous resource estimates have been prepared in accordance with Canadian National Instrument 43-101.
Forte is preparing to acquire 50% interest in Kuriskova and Novoveska Huta deposits with its joint venture partner Canada-based European Uranium Resources, subject to expenditure commitments.
For the latest review, Forte implemented the model wireframe boundaries to reflect geologic and geochemical boundaries and cutoffs, adding resources that were excluded in the prior estimates.
Forte Managing Director Mark Reilly said: "Kuriskova and Novoveska Huta both have exploration targets adjacent to the identified resources that have not yet been drilled and therefore both projects continue to have significant exploration upside."
"The dramatic increase in contained uranium at Novoveska Huta opens the possibility of considering possible project synergies that would allow both deposits to be developed in conjunction. This possibility will be the subject of ongoing study and evaluation."
