Forsys Metals has entered into a purchase agreement with Etherlin Management, to acquire Etherlin’s 30% indirect interest in Namibplaas uranium project in Namibia.
On completion of the transaction, Forsys Metals will own 100% equity interest in the Namibplaas project.
Forsys Metals has commenced second phase of its 2011/12 drilling program at Namibplaas project, with an investment of C$2.5m ($2.4m).
The aim of the drilling program is to complete an additional 40,000m of percussion drilling in a total of about 200 holes.
This would allow for completion of an update of the NI 43-101 resource statement for the project by the third quarter of 2012.
