10:52 AM EDT, 09/02/2025 (MT Newswires) -- Forsys Metals ( FOSYF ) was edging up on Tuesday after announcing further drilling results from its ongoing extension and exploration drilling program at the Valencia deposit, part of the company's Norasa Uranium project. It noted a further 115 boreholes totalling 11,739 metres have been drilled since results were previously reported on Feb. 26.

The company said it has received 10,832 metres of processed downhole gamma survey results. "Uranium intercepts have been logged, both in the infill drilling and in the resource extension drilling patterns, within the Valencia Main pit shell volume, reporting new uranium mineralization and encouraging infill grades with the potential to add ore tonnage and reduce the stripping ratio within the modelled pit."

It said the eastern portion of drilling at the Valencia West target intersected uranium mineralization within the current Valencia pit shell. Results indicate about 250 horizontal metres extent of south easterly-dipping uranium mineralization which is open ended at depth, at the present drilling stage.

""We continue to be very encouraged by results at both the Valencia Main deposit and its surrounding satellite targets. The extension and exploration drilling program continues to advance steadily, positioning us to deliver an updated mineral resource estimate," said Forsys Country Director, Pine van Wyk.

"Also, at our Namibplaas uranium property, preparation work for drill platforms has commenced and drilling will start during the first part of September. Both ongoing efforts are significantly enhancing resource confidence, while expanding our geological understanding of the deposit and supporting the long-term growth potential of the project."

Shares of the company were last seen up 1.9% at $0.55 on the Toronto Stock Exchange.

Price: 0.55, Change: +0.01, Percent Change: +1.85