Forsys Announces Up to 92% Recoveries from Heap Leach Laboratory Tests and Commencement of Optimization Study
Published : August 10, 2011
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TORONTO, ONTARIO--(Marketwire - Aug. 10, 2011) - Forsys Metals Corp. (News - Market indicators)(FRANKFURT:F2T)(NSX:FSY) ("Forsys" or the "Company") is pleased to announce positive uranium leaching results from laboratory tests to determine whether ore from its fully licensed Valencia Uranium Project could be economically recovered by heap leaching. The test program focused on the uranium recovery and reagent consumptions that are commercially achievable, and generating data to guide future development work by a heap leach process route.

Mintek of Johannesburg, South Africa, which was appointed as the laboratory facility to conduct the initial column leach test program, concluded that:

  • Ore from the Valencia Uranium Project is amenable to heap leaching.
  • Good uranium extractions can be achieved under trickle-bed conditions.
  • Sufficient uranium liberation is attainable from conventional crushing.

Up to 92% uranium dissolution was obtained in the column leach tests at a pH of about 0.7. Concurrently, 2 atmospheric batch leach tests were carried out to provide comparative leach results to the heap leach tests and determine any possible anomalies should they exist. The atmospheric batch leach test results supported the findings of the column leach results and no anomalies were found. Simulus, a leading Perth based engineering group, has been appointed to complete the recommended Phase 2 optimization study.

Marcel Hilmer, Chief Executive Officer of Forsys, commented, "Phase 1 results have confirmed our view of the benefits of heap leaching and that it appears viable as the primary mineral extraction method and may ultimately lead to reduced capital and operating expenditures and overall improved economics at our Namibian projects. We have commenced Phase 2 of laboratory testing and hope to provide further positive results before year end."

Laboratory Testing and Results Summary

Two tonnes of ore sample were shipped to Mintek as part of the first phase of test work. Comminution tests were carried out on the samples received to determine crushing parameters to be used in the production of sample material for the subsequent column leach tests. Two different crushing methods were applied, namely high pressure grinding row ("HPGR") and conventional jaw crushing. A specific pressure of 4.5N/mm2 was applied in HPGR crushing to produce a suitable size distribution. The tests were conducted in columns with an internal diameter of 200mm and a height of 2.0 metres. Four column leach tests (two tests in duplicate) were conducted on samples crushed to 100% -12.5mm by two different methods, HPGR and jaw crushing.

The column leach tests from the jaw crush sample yielded a maximum uranium extraction of 92%, while the HPGR test yielded 81% uranium extraction. The final acid consumption ranged from 10 to 20kg/t for the 4 columns.

To view the "Uranium Extraction, 2m leach columns" graph, please visit the following link: http://media3.marketwire.com/docs/fsy_gr1_810.jpg

The figure above shows the uranium extraction versus time curves for the jaw crush (conv crush A and B) and HPGR (HPGR A and B) column leach tests.

The HPGR and jaw crush columns showed a maximum compaction of 7.2% and 3.4% respectively at 2.0 metres lift height, both falling well within a safe range for heap leaching practice.

As a comparison with previous test methods, two atmospheric batch leach tests were executed on fine-milled ore (P80 = 850μm) under oxidative leaching conditions within an acidified, iron sulphate solution at 25°C. The acidity was controlled manually at pH 1.8 by addition of 98% sulphuric acid and the solution potential was controlled by addition of MnO2. The two tests show excellent repeatability with 80% of the uranium rapidly dissolving after only 30 minutes, achieving greater than 92% after 24 hours of leaching.

About Forsys Metals Corp.

Forsys Metals Corp. is an emerging uranium producer with 100% ownership in the fully permitted Valencia Uranium Project and 70% ownership in the Namibplaas Uranium Project in Namibia, Africa a politically stable and mining friendly jurisdiction. Current NI 43-101 compliant reserves at Valencia are 60.5 Mlbs of U3O8 supporting a 17-year mine life and current Measured and Indicated resources are 75.5 Mlbs U3O8 with a further 8.4 Mlbs of Inferred U3O8.

On behalf of the Board of Directors of Forsys Metals Corp.

Marcel Hilmer, Chief Executive Officer

For further information visit our website at www.forsysmetals.com

Sedar Profile #00008536

Forward-Looking Information

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause Forsys actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full description of these risks can be found in Forsys Annual Information Form, dated March 29, 2011, available on the Company's profile on the SEDAR website at www.sedar.com. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

Shares Outstanding: 80,130,231
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forsys Metals Corp
Marcel Hilmer
Chief Executive Officer
+61 417 177 942
mhilmer@forsysmetals.com
or
Forsys Metals Corp
Miranda Smith
Investor Relations
+1 647-258-9721
msmith@forsysmetals.com
www.forsysmetals.com
Data and Statistics for these countries : Namibia | South Africa | All
Gold and Silver Prices for these countries : Namibia | South Africa | All

Forsys Metals Corp.

DEVELOPMENT STAGE
CODE : FSY.TO
ISIN : CA34660G1046
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Forsys Metals is a zinc and copper exploration company based in Canada.

Forsys Metals develops zinc, copper and uranium in Namibia, and holds various exploration projects in Namibia.

Its main asset in development is VALENCIA URANIUM in Namibia and its main exploration properties are OMARURU, ELBE PROJECT, ONDUNDU and NAMIBPLAAS in Namibia.

Forsys Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 80.3 millions as of today (US$ 64.2 millions, € 56.2 millions).

Its stock quote reached its highest recent level on April 20, 2007 at CA$ 9.94, and its lowest recent point on June 30, 2016 at CA$ 0.05.

Forsys Metals has 145 910 000 shares outstanding.

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Annual reports of Forsys Metals Corp.
2008 Annual Report
Annual Report 2007
Financings of Forsys Metals Corp.
11/28/2011Announces Completion of Private Placement
Nominations of Forsys Metals Corp.
8/15/2012Appoints Martin Hirsch as Chief Geologist
6/11/2012Appoints Director Finance and Establishes Office in Perth
7/28/2008Appoints Valencia General Manager
3/7/2008Appoints New Chief Financial Officer
Financials of Forsys Metals Corp.
8/15/2011Announces Second Quarter 2011 Financial and Operational Resu...
Project news of Forsys Metals Corp.
9/28/2012(Namibplaas)Announces: Updated Namibplaas Resource
3/26/2012(Namibplaas)Completes Acquisition of Remaining 30% Interest in Namibplaa...
2/1/2012(Ondundu)to Retain Control of The Ondundu Gold Project
10/24/2011(Namibplaas)Announces Agreement to Acquire Remaining 30% of Namibplaas U...
2/2/2011(Namibplaas)Announces Additional Positive Namibplaas Drilling Results an...
3/31/2010(Ondundu)TECHNICAL REPORT ON THE ONDUNDU GOLD PROJECT EPL3195, NAMIB...
8/21/2008(Valencia Uranium)Valencia Uranium Project, Namibia Mining Licence Granted
8/6/2008(Valencia Uranium) Confirms Deeper Uranium Mineralization at Valencia
7/22/2008(Valencia Uranium) Continues Drilling at Valencia Expanding Pit Bottom and Ove...
6/27/2008(Valencia Uranium) Adds Fourth Drill Rig to Test North Anomaly at Valencia
6/13/2008(Valencia Uranium)Mineralization Expansion and Grade Improvement at Valencia-F...
6/4/2008(Valencia Uranium)Receives Environmental Clearance for Valencia
4/29/2008(Valencia Uranium) Expands Uranium Zones at Valencia
4/1/2008(Ondundu)Increases Ownership of Ondundu Gold Project in Namibia to 90...
2/13/2008(Valencia Uranium)Announces Joly Zone Trenching Results
1/29/2008(Valencia Uranium) Provides Joly Zone Update
1/14/2008(Valencia Uranium)Reports Drilling Results and Resumes Drilling at Valencia
3/26/2007(Valencia Uranium)Significant Increase for the Valencia Uranium Resource
Corporate news of Forsys Metals Corp.
9/14/2015Forsys Metals Announces Non-Brokered Private Placement Updat...
8/12/2015Forsys Metals Announces Non-Brokered Private Placement
3/18/2015Forsys Releases Feasibility Study Results for Norasa Uranium...
11/26/2014Forsys Provides Norasa Uranium Project Feasibility Study Upd...
10/29/2014Forsys Closes $2.4 Million Private Placement
10/9/2014Forsys Provides Update on Private Placement & Progress on th...
7/7/2014Forsys Metals Initiates Feasibility Study for Norasa Uranium...
5/23/2014Forsys Announces Annual and Special Meeting Voting Results
3/27/2014Forsys Files Updated NI 43-101 Technical Report on Norasa Ur...
3/20/2014Forsys Adopts Advance Notice Policy for Director Nominations...
10/7/2013Provides Updated Mineral Resource Estimate for Its Norasa Ur...
5/2/2013(Valencia Uranium)Announces Results of Positive Engineering Cost Study for Its...
3/19/2013Reports Positive Exploration Drilling Results and Confirms H...
1/23/2013Significant New Exploration Results at Recently Discovered V...
1/26/2012(Namibplaas)Announces Additional High Grade Zones from Namibplaas Phase ...
10/5/2011Enters Into Share Subscription Agreement to Raise C$8,000,00...
9/15/2011(Namibplaas)Announces Maiden Resource Statement Namibplaas Project-Namib...
8/10/2011Announces Up to 92% Recoveries from Heap Leach Laboratory Te...
7/11/2011(Namibplaas)Announces Discovery of Extensive High Grade Zones From Ongoi...
5/15/2011Proposed Changes to Namibian Mineral Policy Will Not Affect ...
3/3/2011Announces Settlement Agreement With GFI and George Forrest
12/11/2008Corporate Quarterly Update
11/14/2008George Forrest International Afrique S.P.R.L. to Acquire For...
9/16/2008Corporate Quarterly Update
6/27/2008Clarifying Press Release-Mineral Resource and Mineral Reserv...
6/16/2008Corporate Quarterly Update
4/23/2008Clarifies Uranium Project on Track
4/11/2008Namibia to Build Second Desalination Plant for Uranium Mines
3/6/2008Prepares for Contract Mining at Valencia
2/25/2008Receives Water Permits
2/6/2008Uranium Exploration Licences Renewed
3/23/2007Completes Acquisition of Remaining 10% of Valencia Uranium D...
2/28/2007Completes $47.5 Million Financing
2/26/2007Acquires 70% of Ancash Investments and 5 Additional Uranium ...
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