Forte Energy NL
LSE : FTE

July 04, 2012 02:00 ET

Encouraging Initial Assay Results in Bohoduo, Guinea

                                                                                            Forte Energy NL
                                                                                                           
                                                                                            ACN 009 087 852
                                                                                                       
                                                                                                       
                                                                                 ASX, AIM and Media Release
4th July 2012
                                                     
                           Encouraging Initial Assay Results in Bohoduo, Guinea
                                                     

International uranium company Forte Energy NL (ASX/AIM: FTE; "Forte Energy" or "the Company") is pleased
to  announce  that they have received assay results for the Reverse Circulation (RC) drilling  programme
completed earlier this year at the Bohoduo project, in Guinea.

Bohoduo  is  situated  approximately  70km to the north east of Firawa  and  consists  of  two  licences
totalling  338km2. Historical studies have identified an anomalous uranium area over a strike length  of
20km.  An  initial drilling programme was conducted by the Company in May 2008 comprising 15  RC  holes,
totalling 1,000m and targeted a 700m long uranium anomaly to the east of the Bohoduo Prospect. Eight  of
the holes drilled confirmed mineralisation from surface down to nearly 100m over a distance of 700m.

The  second Bohoduo drilling programme completed earlier this year included 17 holes, totalling  1,277m,
testing  the  extensions to the east and west of the original drilling. Seven of the  holes  intersected
mineralisation  from  near  to surface down to over 100m extending the zone of  mineralisation  to  over
2.3km.

All  of  the assay results from the ALS Global laboratories in Monrovia and South Africa have  now  been
received.

Highlights

  *       Notable intersections include:

       -       BHD003:  12m @ 336ppm U308
       -       BHD012:  15m @ 287ppm U308
       -       BHD017:  24m @ 506ppm U308
       -       BHD025:   4m @ 333ppm U308 and 8m @ 295 ppm U308
       -       BHD028:  11m @ 345ppm U308 and 5m @ 420 ppm U308
       -       BHD030:  16m @ 578ppm U308 and 3m @ 476 ppm U308
                     
  *      Assay results from the two drilling campaigns have confirmed the continuity of the mineralisation
         over a strike length of 2.3km.
      
  *      Mineralisation identified from the surface down to 100m.

To view Figure 1: Guinea Licences, please open the following link in a new window: 
http://media3.marketwire.com/docs/FTE0407_Figure1.pdf.

Ground  studies  were completed in the Bohoduo area by consultants Davy Mckee between  1979  and  1982  and
combined with a later airborne survey identified an anomalous uranium zone at Bohoduo over a strike  length
of 20km.

The  geology  of  the Bohoduo Prospect is characterised by orthogneisses of Neoarchaean or Paleoproterozoic
age.  The  mineralisation is hosted in mylonite in a fault zone. Hydrothermal alteration  and  presence  of
copper  and  minor  amounts  of  other  metals indicate a hydrothermal origin  of  uranium  mineralisation.
Malachite  is  observed  in  the  lateritic cover, which can be up to 20 metres  thick.  Secondary  uranium
minerals  have been observed on surface and in drill-chips. It is believed that other metal occurrences  in
the area are of Proterozoic age.

Two  drilling  programmes  have  been completed at the Bohoduo Project. The first  drilling  programme  was
carried  out  by AMCO Drilling Ltd in May 2008 and consisted of 15 RC holes totalling 1,000m.  All  of  the
holes were inclined at 500. The drilling targets were focused on a 700m long uranium anomaly identified  by
ground  studies conducted by Davy McKee in the 1980's and interpretation of a combination of further ground
works conducted by Forte Energy and airborne geophysical data.

In  the 2008 drilling campaign, eleven profiles were drilled over 800m at 100m centres; this was reduced to
50m  where  good  scintillometer readings were recorded from the RC chip samples. Eight  holes  intersected
mineralisation  from surface down to 96m, the best of which were BHD003: 12m @ 336ppm U308  from  6m  below
surface and BHD017: 24m@ 506ppm U308 from 1m below surface.

A  total  of  8  holes  were  sampled and sent to the ALS Chemex laboratories in Canada  for  multi-element
analysis.  Positive assay results from the eight holes confirmed mineralisation near to surface over  600m,
with a number of assays over 500ppm U308.

To view Figure 2: Bohoduo RC drill hole locations, please open the following link in a new window: 
http://media3.marketwire.com/docs/FTE0407_Figure2.pdf.

In  February 2012 a second drilling programme at Bohoduo was completed by AMCO Drilling Ltd with  17  holes
drilled  totalling  1,277m.  Two holes were drilled 200m to the west and 15  holes  to  the  east  on  200m
profiles.  All  of  the holes were inclined at 500 and 7 of the 17 holes were sampled and  assayed.  Sample
preparation was completed by ALS Global in Guinea and then transported to Monrovia for assaying.

Two holes, BHD 020 and BHD 026 were drilled 200m to the east of the area drilled in the first campaign; the
holes  were drilled to 50m and 60m respectively and intersected no mineralisation. A further 10 holes  were
drilled  300m to the west of the mineralised zone identified in the first RC campaign, targeting  anomalous
areas identified in field studies and the airborne surveys.

Table 1: Summary of Bohoduo Assay Results

Hole Id        East        North     Inclination    From       To     Interval       Average 
                                                                                      Grade
              WGS84        WGS84      (Degrees)      (m)       (m)       (m)        U308 (ppm)
----------------------------------------------------------------------------------------------
BHD03         496800       1084900       50           6        18        12             336
                                                     25        26         1             301
                                                     44        45         1             205
BHD04         496900       1084900       50          41        42         1             202
BHD05         497000       1084900       50          22        23         1             284
                                                     27        28         1             590
                                                     31        32         1             527
BHD06         497100       1084900       50          32        35         3             370
                                                     38        43         5             322
BHD07         497200       1084900       50          12        16         4             401
                                                     28        29         1             200
                                                     32        34         2             211
                                                     38        39         1             219
BHD08         497300       1084900       50          46        49         3             378
BHD12         496700       1084850       50          66        81        15             287
                                                     93        96         3             458
BHD17         496750       1084900       50           1        25        24             506
BHD23         498400       1084675       50          58        60         2             248
                                                     66        72         6             265
                                                     77        80         3             252
                                                     83        86         3             220
                                                     88        89         1             448
                                                     97        99         2             495
                                                     101       102        1             224
BHD24         498000       1084775       50          13        17         4             218
                                                     19        22         3             228
                                                     28        32         4             268
                                                     42        44         2             260
BHD25         497800       1084778       50          52        56         4             333
                                                     62        63         1             201
                                                     69        77         8             295
                                                     81        82         1             212
                                                     102       106        4             203
BHD27         498200       1084625       50          67        70         3             228
                                                     77        80         3             240
BHD28         498200       1084700       50          36        37         1             248
                                                     38        39         1             200
                                                     40        42         2             236
                                                     44        45         1             212
                                                     49        60        11             345
                                                     69        74         5             420
                                                     77        78         1             212
                                                     103       104        1             212
BHD30         498400       1084700       50          33        49        16             578
                                                     56        59         3             476
                                                     60        64         4             239
                                                     66        68         2             236
                                                     76        77         1             212
                                                     97        98         1             283
                                                     100       102        2             212
                                                     106       108        2             295
BHD31         499000       1084600       50          66        67         1             201
                                                     74        77         3             476
                                                     85        86         1             248

Average U308 Grades based on a Cut-off grade of 200ppm U308 and a maximum dilution interval of 2m
                                                     
Six  holes BHD023, 24, 25, 27, 28 and 30 drilled at 200m centres to the west identified intermittent narrow
mineralisation  from surface down to 106m, the best of which was BHD 028 which assayed 11m  @  345ppm  U308
from  49m  and  5m  @ 420ppm U308 from 69m. Another hole, BHD031, was drilled over 300m  to  the  east  and
identified intermittent narrow mineralisation between 66m and 86m.

Further holes were drilled to the west on radiometric anomalies identified from historical studies but  did
not intersect any mineralisation.

Commenting on the assay results from Bohoduo, Mark Reilly, Managing Director of Forte Energy said:
"The  additional positive assay results at Bohoduo provide further confirmation of the potential of Forte's
asset  portfolio  in Guinea, which also includes the Firawa Project, which currently has a  JORC  compliant
resource  of  11.6M  pounds  of  U308 and is currently being upgraded. With the  success  of  our  drilling
campaigns in both Mauritania and now Guinea, combined with the financing agreed, the Company is in  a  very
strong position to continue to grow its resource base and advance its projects towards development."






Mark Reilly
Managing Director


For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                                   Tel: +44 (0) 203 384 9555

Rob Collins/Tarica Mpinga
Canaccord Genuity Limited                         Tel: +44 (0) 207 050 6500

Geoff Nash/Ben Thompson                           Tel: +44 (0)207 220 0550
Elizabeth Johnson (broking)
finnCap

Bobby Morse/Louise Hadcocks/Cornelia Browne
Buchanan                                          Tel: +44 (0) 207 466 5000

Stuart Laing
RFC Ambrian Ltd                                   Tel: +61 (0) 8 9480 2506
(AIM Nominated Adviser to the Company)

Forte Energy NL

Australia                                        United Kingdom

Suite 3, Level 3                                 3C Princes House
1292 Hay Street                                  38 Jermyn Street
West Perth WA 6005                               London SW1Y6DN
Ph: +61 (0)8 9322 4071                           Ph: +44 (0)203 3847474
Fax: +61 (0)8 9322 4073                          Fax: +44 (0)207 2878387
Email: info@forteenergy.com.au                   Email: info@forteenergy.co.uk
Web: www.forteenergy.com.au

About Forte Energy

Forte  Energy is an Australian-based minerals company focused on the exploration and development of uranium
and  associated bi-products in Mauritania and Guinea in West Africa. The Company has an extensive  pipeline
of assets and total JORC resources of 64.2Mt @ 262ppm U3O8for 37.0Mlbs contained U3O8 (100ppm cut-off).

Its  flagship  assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs  U3O8)  in
Mauritania, and the Firawa project in Guinea (11.6Mlb U3O8).

Forte Energy U3O8 JORC resources (all at a 100ppm cut-off):
        Project              Resource Category             M tonnes           ppm U3O8   Contained U3O8
                                                                                                   Mlbs
        A238*                         Inferred                 45.2                235             23.4
        Bir En Nar                   Indicated                 0.55                886              1.0
                                      Inferred                 0.78                575              1.0
        Firawa                        Inferred                 17.7                296             11.6
        Total                        Indicated                  0.5                886              1.0
                                      Inferred                 63.7                256             36.0
                                         Total                 64.2                262             37.0
*       A238NW Anomaly included in the A238 Inferred Resources
    
Forte  Energy's  strategy is to target high grade uranium ore bodies and build a  low  cost  West  African-
focused uranium producer. The Company is quoted on the Australian Stock Exchange (ASX: FTE) and AIM  market
of the London Stock Exchange (AIM: FTE). For more information, visit www.forteenergy.com.au


Note:
The  information in this report that relates to Exploration Results is based on information compiled by Mr.
Bosse  Gustafsson,  who  is  a  Member  of the European Federation of Geologists,  a  'Recognised  Overseas
Professional  Organisation'  ('ROPO') included in a list promulgated by the  ASX  from  time  to  time.  Mr
Gustafsson  is  a  full  time  Technical Director of Forte Energy NL and  is  responsible  for  exploration
activities  in  Mauritania and Guinea. Mr. Gustafsson has sufficient experience which is  relevant  to  the
style of mineralisation and type of deposit under consideration and to the activity which he is undertaking
to  qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'. Mr. Gustafsson consents to the inclusion in  this
report of the matters based on his information in the form and context in which it appears.

The  information in this report that relates to the Mineral Resource at the A238 prospect in Mauritania  is
based on information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr Galen White BSc (Hons) FGS,
FAUSIMM, Principal Geologist of CSA Global Inc (UK).

The information in this report that relates to the Mineral Resource at Bir En Nar in Mauritania is based on
information  compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Neil Inwood of Coffey Mining  Ltd.
Neil  Inwood is the Competent Person responsible for the resource estimation and classification. Mr  Inwood
is  a  Fellow  of  the AusIMM. As Mr Inwood is now no longer employed by Coffey Mining, Coffey  Mining  has
reviewed  this  information  release  and  consent to the inclusion,  form  and  context  of  the  relevant
information  herein  as  derived  from the original resource reports for  which  Mr  Inwood's  consent  has
previously been given.

The  information  in  this report that relates to the Mineral Resource at Firawa  in  Guinea  is  based  on
information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Doug Corley BSc (Hons)  MAIG,  R.P.
Geo (Mining) of Coffey Mining Ltd.

Mr.  Gustafsson, Mr. Corley, Mr. Inwood and Mr. White have sufficient experience which is relevant  to  the
style  of  mineralisation  and  type of deposit under consideration and to the  activity  which  they  have
undertaken  to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian  Code  for
Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Gustafsson, Mr. Corley  and  Mr.
White  consent to the inclusion in this report of the matters based on their information in  the  form  and
context in which it appears.

Contact Information

  • Forte Energy NL