Forsys Metals Corp. Mineralization Expansion and Grade Improvement at Valencia-Forsys Triples Drill Program by 24hgold

Mots clés associés : Uranium |

Marketwire


Forsys Metals Corp.
TSX:	FSY
FRANKFURT:	F2T

Other Recent News

June 13, 2008

Mineralization Expansion and Grade Improvement at Valencia-Forsys Triples Drill Program

TORONTO, ONTARIO--(Marketwire - June 13, 2008) - Forsys Metals Corp. ("Forsys" or the "Company") (TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) is pleased to announce the second set of percussion drilling results from the 2008 exploration campaign at the Company's 100% owned Valencia Uranium Deposit ("Valencia"). Drilling in the Valencia Southwest Zone and Transition Zone has confirmed additional mineralization to further expand the Valencia resource.

The second set of drilling in the Southwest Zone and Transition Zone consisted of 15 additional vertical holes, bringing the total current drilling campaign to 26 holes, of which all show uranium mineralization.

Based on the excellent results received to date, the Company has approved an expansion of the drilling program from 10,000 m to 30,000 m.

Results to date demonstrate the following:

- Deposit expansion and grade improvement remains on track;

- The ore body shows good mineralization below the current pit "cone", opening the Valencia main ore body to the south, southwest and southeast and at depth;

- Due to higher uranium mineralization in PD-025, the ore body has potential to open towards the west;

- PD-031 is well mineralized, opening the deposit at depth towards the north;

- The ore body footprint at 325 m depth (380 m elevation) could have an east-west extension of 200 m wide by 300 m long as compared to the current pit bottom which is 45 m wide by 75 m long (June 2007 NI 43-101 Technical Report);

- Holes encountered weak mineralization with grade above cut-off (0.06 Kg/T U308) from surface to high grade deep sections, which should reduce stripping cost.

Selected higher grade results of the drilling in the Southwest Zone and the Transition Zone are shown in the tables below. Refer to the Company's website at www.forsysmetals.com for the complete set of results for all 15 drill holes.

                Table 1: Southwest Zone Highlights
---------------------------------------------------------------------
               From        To            Interval              Grade
Hole             (m)       (m)                 (m)    (Kg/T eU3O8)(i)
---------------------------------------------------------------------
PD-012        98.90    346.20              247.30              0.170
Including    274.50    346.00               71.50              0.256
---------------------------------------------------------------------
PD-019       122.00    162.80               40.80              0.232
             267.00    341.70               73.90              0.250
---------------------------------------------------------------------
PD-023       206.10    298.10               92.00              0.157
Including    206.10    238.80               32.70              0.208
---------------------------------------------------------------------
PD-024        62.90    375.60              312.60              0.191
Including     62.90     95.00               32.10              0.288
Including     96.10    137.60               41.50              0.255
Including    204.30    223.10               18.80              0.297
Including    253.50    270.00               16.60              0.313
Including    310.70    319.20                8.50              0.320
---------------------------------------------------------------------
PD-025       225.60    324.20               98.60              0.384
Including    225.60    295.50               69.90              0.474
Including    247.50    295.10               47.60              0.539
---------------------------------------------------------------------

              Table 2: Transition Zone Highlights
---------------------------------------------------------------------
               From        To            Interval              Grade
Hole             (m)       (m)                 (m)    (Kg/T eU3O8)(i)
---------------------------------------------------------------------
PD-013         10.6     289.3               278.7              0.122
Including     61.80     81.50               19.70              0.319
Including    262.10    291.40               29.30              0.214
Including    324.10    346.60               22.50              0.200
---------------------------------------------------------------------
PD-018       267.80    322.70               54.90              0.297
Including    269.60    300.80               31.20              0.381
---------------------------------------------------------------------
PD-020         0.00     50.80               50.80              0.109
              51.50     58.80                7.30              0.847
              70.70    108.60               37.90              0.164
             110.60    169.70               59.10              0.204
             172.70    265.70               93.00              0.189
---------------------------------------------------------------------
PD-022         4.50     66.70               62.20              0.177
              69.30    101.90               32.60              0.147
             132.00    189.50               57.50              0.145
             226.50    230.80                4.30              0.263
---------------------------------------------------------------------
PD-026         9.60    140.00              130.40              0.194
             207.10    304.90               97.80              0.185
Including    253.00    292.60               39.60              0.229
---------------------------------------------------------------------
PD-031       158.40    337.30              178.90              0.192
Including    161.20    199.20               38.00              0.203
Including    210.60    231.00               20.40              0.215
Including    239.40    244.90                5.50              0.222
             258.40    305.40               47.00              0.309
Including    264.70    292.00               27.30              0.425
---------------------------------------------------------------------

(i) The results in this news release are reported as equivalent U308
    ("eU308"). The Company has calculated a correlation between grade
    thickness product of gamma counts (counts per second) collected by
    down hole geophysical methods and the grade thickness product of
    chemical assays from the Company's drill hole library (otherwise 
    known as GT Chem and GT Rad). That correlation has been established
    with over 100 GT intervals and is used to calculate eU308 in the
    percussion drill holes from gamma probe survey with a resulting
    correlation coefficient of 0.99 (estimation of confidence level).

Results from holes 21 and 27 through to 30 are pending, and will be reported in upcoming news releases.

Dr. Roger Laine, Chief Geologist 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.

On Behalf of the Board of Directors of Forsys Metals Corp

Duane Parnham, President and CEO

For further information visit our web site at www.forsysmetals.com.

Sedar Profile #00008536

Forward-Looking Information

This press release contains "forward-looking information" including statements and information regarding exploration results. Such forward-looking information reflects the current expectations or beliefs of the Company. Forward-looking information is subject to a number of risks, assumptions and uncertainties that may cause the actual results of the Company to differ materially from those discussed herein, including the possibility that future exploration results will not be consistent with the announced results or the Company's expectations, the resource/reserve and grade of the ore body may not be upgraded, the uncertainties involved in interpreting exploration results and other inherent risks in the mineral exploration and development industry. Such forward-looking information speaks only as of the date on which it is made and, unless required by applicable securities laws, the Company undertakes no obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Shares Outstanding: 77,076,898

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Forsys Metals Corp.
Bruce Hall
Chief Communications Officer
(905) 844-4646
Email: bhall@forsysmetals.com

or

In Namibia
Forsys Metals Corp.
+264 61 219 462
Email: wrn@forsysmetals.com
Website: www.forsysmetals.com

INDUSTRY: Manufacturing and Production - Mining and Metals

Footer

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
Sur Google Earth, cliquez sur les pictogrammes, pour voir les informations du projet, accéder à sa page, ou à la page de la compagnie.