Forsys Metals Corp
TSX : FSY
FRANKFURT : F2T

Forsys Metals Corp

May 29, 2006 09:00 ET

Forsys Begins Detailed Drilling for Measured Resource at Valencia

TORONTO, ONTARIO--(CCNMatthews - May 29, 2006) - Forsys Metals Corp ( "Forsys" or the "Company")(TSX VENTURE:FSY) is pleased to report the start of a reverse circulation drill hole program ("RC Program") in the central portion of the Company's Valencia Uranium Deposit ("Valencia"), located in Namibia, Africa. With the assistance of Snowden Mining Industry Consultants ("Snowden"), a detailed plan of close spaced RC drill holes will be used to re-classify a portion the known Valencia resource currently categorized as "Measured." This measured portion will be used in the Company's Valencia Feasibility Study.

The RC Program will include drilling on a 20 by 20 metre grid with drill hole depths varied to accommodate the topography. The result will be a measured block of approximately 7-10 Mt representing a minimum of 70% of two years production from a proposed Valencia open pit operation.

The RC Program will collect approximately 2500 samples. The analytical results for uranium (U3O8) along with the calculation of acid consumption rates (calc-index) will be reported periodically over the next three to four months. Acid consumption rates will assist with engineering and processing studies.

Core samples were also collected for metallurgical studies; initially these studies will focus on rock strength properties. The metallurgical results are expected within six weeks.

In addition to the RC program, two diamond drill rigs are presently finishing off the validation, resource delineation and infill program at Valencia. Three additional short drill holes were requested by Snowden to collect further geotechnical information for the pit optimization studies. In total six holes remain to be drilled.

A significant number of core samples are also in various stages of the uranium assay cycle and their results will continue to be reported following receipt in Windhoek, Namibia.

Rick Bonner, P. Geol., Exploration Manager of Forsys, is the designated Qualified Person responsible for all of Forsys' exploration programs as well as the person responsible for the contents of this news release.

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Contact Information

  • Forsys Metals Corp
    Duane Parnham
    Chairman
    (416) 601-1286 in Toronto
    or
    Forsys Metals Corp
    Rick Bonner
    Exploration Manager in Namibia
    wrn@forsysmetals.com