Previous process plant design and study work relied on several phases of leach test work that had been conducted over a number of years. Various test conditions had been used over this period with varying results. Previous study work assumed a constant leach recovery of uranium (acid dissolution) in the process models. There was however some evidence that there was a consistency in the residue value of the tailings; i.e. leach recovery was a function of the grade of the samples. As a result, a decision was made to embark on a much more extensive leach test program than had been conducted in the past to determine:
-- the leach recovery under a standard set of conditions (previously identified as the Valencia optimum leach conditions), and-- confirm that there is a constant leach residue or at least that the recovery is a function of the head grade.
Samples were taken from drill core representing a uniform spacial and grade distribution of mineralized zones of at least 5m wide. A total of 48 samples were chosen; 11 from the Measured Resource category, and the rest from the Indicated category. Samples came from different boreholes across the Valencia main deposit.
All samples were sent to SGS Lakefield in Johannesburg for the test work. Each sample was leached for a period of 24 hours with samples taken at 4, 8, 12 and 24 hours. Tests were conducted at standard conditions of 80% passing 850 micron grind, 25C and pH of 1.8. The recoveries, as a function of grade, are illustrated below. Although the variation in results is noted, there appears to be a general trend of increasing grade with recovery.
To view FIGURE 5, please visit the following link: http://media3.marketwire.com/docs/fsy-fig5.pdf.
To view FIGURE 6, please visit the following link: http://media3.marketwire.com/docs/fsy-fig6.pdf.
The average recovery with time for all 48 samples is summarized below, compared with the 87% average acid dissolution recovery used in previous studies. It is the Company's opinion that in spite of the variation in results, the trend of recovery being a function of grade cannot be ignored and expect an acid dissolution of at least 90% with an overall plant recovery exceeding 88%. This compares favorably to the overall plant recovery of 85.7% reported in the Snowden Technical Report of January 2010. The Company anticipates acid consumption was also shown to be 16% less that previously assumed, now at 16.2 kg/t H2SO4.
To view FIGURE 7, please visit the following link: http://media3.marketwire.com/docs/fsy-fig7.pdf.
NORASA - CONSOLIDATED NAMIBIAN PROJECTS
Norasa is the name for Forsys' consolidated neighboring uranium properties; Valencia (Mining Licence 149) and Namibplaas (Exclusive Prospecting Licence 3638). Forsys is in the process of updating the previous Snowden Technical Report from January 2010 for Norasa Uranium, including the various satellite deposits currently being explored.
NI 43-101 and Qualified Persons
Mr. Martin Hirsch, M.Sc in Geology and a member of the British IMMM, Chief Geologist for Forsys Metals Corp., is the designated Qualified Person responsible for the Company's exploration programs. He is familiar with the methods for Quality Assurance and Quality Control specifically applicable to uranium. Mr Hirsch has sufficient experience that is relevant to the style and mineralization, type of deposit and the use of radiometrics in resource estimates as well as to the activity he is undertaking to qualify as a Qualified Person under NI 43-101.
About Forsys Metals Corp
Forsys Metals Corp is an emerging uranium producer with 100% ownership of the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on our website.
On behalf of the Board of Directors of Forsys Metals Corp
Marcel Hilmer, Chief Executive Officer
Sedar Profile #00008536
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 15, 2013, 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.
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The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forsys Metals Corp
Chief Executive Officer
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