Forsys starts feasibility on Norasa uranium project
Forsys Metals Corporation recently announced it will initiate a feasibility study for its Norasa uranium project. Norasa is a consolidated mining project located on three proven uranium resources, Valencia, Namibplaas and a satellite deposit in the Usakos district. AMEC Australia has been appointed to conduct the feasibility study.
Marcel Hilmer, Chief Executive Officer of Forsys said: “ The commencement of the feasibility study is the next important milestone in the development of the Norasa project. The feasibility study will consolidate all accumulated project, mine and technical data.
“We are very pleased to have assembled such a competent technical team being lead by AMEC. We are targeting the first quarter of 2015 for completion of the study,” said Hilmer on the appointment of AMEC.
The terms of reference for the feasibility study make provision for the input of other specialist consultants for certain aspects of the study. These areas include an update of the pit designs, tailings handling systems and bulk water and power supply. Some technical aspects have already been completed to a level suitable for the feasibility study including the resource model and pit geo-technical designs. SGS South Africa has also been appointed to complete additional metallurgical studies, which will include pilot plant test work.
Forsys is riding a high wave for 2014 having earlier reported an increase of 30% in proven and probable reserves for a total of 79 million pounds and grade increases of 202 parts per million.
Additional work carried out by consulting firm AMEC in 2013 will further bolster Forsys’ current efforts to bring the project to life with results from an earlier study showing the potential to reduce the residence leach time by 30%. Further improvements are an increase in average throughput from 8.7 million tonnes per annum to 11.2 million tonnes per annum and an average increase in production from 3.3 million pounds to 4.2 million pounds of yellow cake.
Capital expenditure for the process plant is estimated at US$249.7 million with an estimated mining life of 13 years based on current projections.