Forsys Announces Joly Zone Trenching Results: Financial News

Forsys Announces Joly Zone Trenching Results
Wednesday February 13, 2008 12:55 pm ET

TORONTO, ONTARIO--(MARKET WIRE)--Feb 13, 2008 -- Forsys Metals Corp. ("Forsys" or the "Company") (Toronto:FSY.TO - News) is pleased to announce initial assay results received from the Joly Zone surface trenching program completed in late 2007. The Joly Zone is located approximately 1.5 km north of the Company's Valencia uranium deposit ("Valencia") proposed main pit in Namibia, Africa where a feasibility study is underway. The results confirm uranium mineralization in Valencia-type alaskite variably intruded by biotite granite. This assemblage has been identified over a 1.5 km strike length and remains open in all directions.

Results have been received from 73 of the 89 trenches (refer to Appendix A) cut over favorable metamorphic bedrock with alaskite intrusive material identified during the recent mapping program (refer to the Company's press release dated January 29, 2008). The area is now being categorized into four new zones: the East Zone, East Central Zone, West Central Zone (location of diamond drill holes J-001 to J-005 from 2007 exploration campaign) and the West Zone, which extends uranium mineralization from previous studies (refer to Figure 1).

To see Figure 1 please view the following link: http://media3.marketwire.com/docs/fys_fig1.pdf

 

The best intersections are as follows:

East Zone:                             East Central Zone:

JTR-001 with 11 m of 1.013 Kg/T        JTR-015 with 18 m of 0.166 Kg/T
JTR-002 with 14 m of 0.315 Kg/T        JTR-016 with 10 m of 0.244 Kg/T
JTR-007 with 13 m of 0.193 Kg/T        JTR-030 with 10 m of 0.175 Kg/T

West Central Zone:                     West Zone:

JTR-037 with 5 m of 0.274 Kg/T         JTR-072 with 14 m of 0.260 Kg/T
JTR-038 with 20 m of 1.282 Kg/T        JTR-073 with 16 m of 0.110 Kg/T
JTR-048 with 10 m of 0.165 Kg/T

Management is encouraged with the initial results which confirm the uranium mineralization grade continuity at the Joly Zone. The Joly Zone grades are similar to, and locally better than, those returned from alaskite bedrock in the Valencia ore body, itself a similar host to the ore found at Rio Tinto's producing Rossing Uranium Mine. Additional sampling will continue to test those areas that appear on the ground scintillometer image to be somewhat spotty and narrow. The Company will commence with a percussion drilling program at the Joly Zone, consisting of minimally 20 holes to be drilled to a depth of approximately 100 m in order to evaluate the subsurface continuity of uranium mineralization and to help the Company determine if any of the Joly Zone potential ore zones could be mined with the Valencia ore.

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 technical 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

 

Appendix A:
-----------

        --------------------------------------------------------------------
        LENGTH   FROM     TO         GT  WIDTH      GRADE           LOCATION
            (m)    (m)    (m) (Kg/T x m)    (m)     (Kg/T)
----------------------------------------------------------------------------
JTR-001     12   3.00  13.50      10.64     11      1.013    North East Zone
----------------------------------------------------------------------------
JTR-002     13   0.00  14.00       4.42     14      0.315    North East Zone
----------------------------------------------------------------------------
JTR-003     12   0.00  10.00       2.41     10      0.241    North East Zone
----------------------------------------------------------------------------
JTR-004     10   0.00  10.00       1.88     10      0.188    North East Zone
----------------------------------------------------------------------------
JTR-005     11   1.00   8.00       0.60      7      0.086    North East Zone
----------------------------------------------------------------------------
JTR-006     15   9.00  14.00       0.29      5      0.058    North East Zone
----------------------------------------------------------------------------
JTR-007     15   2.00  15.00       2.52     13      0.193    North East Zone
----------------------------------------------------------------------------
JTR-008     15   2.00  13.00       1.23     11      0.112    North East Zone
----------------------------------------------------------------------------
JTR-009     17                                               North East Zone
----------------------------------------------------------------------------
JTR-010     10   0.00  10.00       0.63     10      0.063    North East Zone
----------------------------------------------------------------------------
JTR-011     15   0.00  13.00       1.18     13      0.091    North East Zone
----------------------------------------------------------------------------
JTR-012     10                                               North East Zone
----------------------------------------------------------------------------
JTR-013     10                                               North East Zone
----------------------------------------------------------------------------
JTR-014     10   0.00   9.00       0.85      8      0.094  East Central Zone
----------------------------------------------------------------------------
JTR-015     19   0.00  18.00       3.00     18      0.166  East Central Zone
----------------------------------------------------------------------------
JTR-016     13   3.00  13.00       2.44     10      0.244  East Central Zone
----------------------------------------------------------------------------
JTR-017     14   1.00   3.00       0.18      2      0.088  East Central Zone
----------------------------------------------------------------------------
JTR-018     10                                             East Central Zone
----------------------------------------------------------------------------
JTR-019     10   0.00   3.00       0.13      3      0.044  East Central Zone
                 6.00   7.00       0.06      1      0.057
----------------------------------------------------------------------------
JTR-020     10                               1  Max 0.033  East Central Zone
----------------------------------------------------------------------------
JTR-021     10                                             East Central Zone
----------------------------------------------------------------------------
JTR-022     11   0.00   6.00       1.72      6      0.286  East Central Zone
----------------------------------------------------------------------------
JTR-023      7   1.00   3.00       0.29      2      0.147  East Central Zone
----------------------------------------------------------------------------
JTR-024      8                               1  Max 0.024  East Central Zone
----------------------------------------------------------------------------
JTR-025     13                               1  Max 0.014  East Central Zone
----------------------------------------------------------------------------
JTR-026      6                               1  Max 0.024  East Central Zone
----------------------------------------------------------------------------
JTR-027     25                               1  Max 0.021  East Central Zone
----------------------------------------------------------------------------
JTR-028      5   2.00   4.00       0.47      2      0.237  East Central Zone
----------------------------------------------------------------------------
JTR-029      7   2.00   4.00       0.44      2      0.217       Central Zone
----------------------------------------------------------------------------
JTR-030     22   0.00  10.00       1.75     10      0.175       Central Zone
                19.00  22.00      0.531      3      0.177
----------------------------------------------------------------------------
JTR-031     12   2.00   3.00       0.14      1      0.139       Central Zone
----------------------------------------------------------------------------
JTR-032     10   0.00   5.00       0.91      5      0.181       Central Zone
----------------------------------------------------------------------------
JTR-033     19   1.00   7.00       0.51      6      0.086       Central Zone
                10.00  13.00       0.25      3      0.084
                16.00  19.00       0.24      3      0.079
----------------------------------------------------------------------------
JTR-034     17   0.00   3.00       0.38      3      0.128       Central Zone
                 7.00  11.00       0.45      4      0.111
                13.00  17.00       0.29      4      0.073
----------------------------------------------------------------------------
JTR-035     20  14.00  15.00       0.49      2      0.245       Central Zone
----------------------------------------------------------------------------
JTR-036     21   9.00  14.00       0.49      5      0.099  West Central Zone
----------------------------------------------------------------------------
JTR-037     13   1.00   6.00       1.37      5      0.274  West Central Zone
----------------------------------------------------------------------------
JTR-038     21   0.00  20.00      25.64     20      1.282  West Central Zone
----------------------------------------------------------------------------
JTR-039     22   7.00  12.00       0.47      5      0.095  West Central Zone
                13.00  18.00       0.28      5      0.056
----------------------------------------------------------------------------
JTR-040     20   0.00  10.00       0.63     10      0.063  West Central Zone
----------------------------------------------------------------------------

JTR-041     14   0.00   3.00       0.76      3      0.255  West Central Zone
                 9.00  14.00       2.93      5      0.586
----------------------------------------------------------------------------
JTR-042     29  11.00  12.00       0.06      1      0.063  West Central Zone
----------------------------------------------------------------------------
JTR-043     17                               1  Max 0.031  West Central Zone
----------------------------------------------------------------------------
JTR-044     10   4.00   7.00       0.31      3      0.103  West Central Zone
----------------------------------------------------------------------------
JTR-045      9   3.00   5.00       0.16      2      0.079  West Central Zone
----------------------------------------------------------------------------
JTR-046     15  13.00  15.00       0.42      2      0.210  West Central Zone
----------------------------------------------------------------------------
JTR-047     20   6.00  11.00       0.26      5      0.052  West Central Zone
----------------------------------------------------------------------------
JTR-048     18   0.00  10.00       1.65     10      0.165  West Central Zone
----------------------------------------------------------------------------
JTR-049     16   2.00  14.00       1.00     12      0.084  West Central Zone
----------------------------------------------------------------------------
JTR-050     15   7.00   9.00       0.19      2      0.097  West Central Zone
                13.00  15.00       0.16      2      0.077
----------------------------------------------------------------------------
JTR-051     21   1.00   7.00       0.39      6      0.064  West Central Zone
                18.00  21.00       0.39      3      0.129
----------------------------------------------------------------------------
JTR-052      5   0.00   5.00       1.28      5      0.256  West Central Zone
----------------------------------------------------------------------------
JTR-053     10   4.00   8.00       0.41      4      0.102          West Zone
----------------------------------------------------------------------------
JTR-054     10   4.00   5.00       0.15      1      0.148          West Zone
----------------------------------------------------------------------------
JTR-055     15   3.00   4.00       0.06      1      0.056          West Zone
----------------------------------------------------------------------------
JTR-056     10                               1  Max 0.038          West Zone
----------------------------------------------------------------------------
JTR-057     10                               1  Max 0.014          West Zone
----------------------------------------------------------------------------
JTR-058      6   1.00   2.00       0.09      1      0.086          West Zone
----------------------------------------------------------------------------
JTR-059      7   3.00   5.00       0.19      2      0.094          West Zone
----------------------------------------------------------------------------
JTR-060     15   5.00   12.00      0.95      7      0.135          West Zone
----------------------------------------------------------------------------
JTR-061     16                               1  Max 0.012          West Zone
----------------------------------------------------------------------------
JTR-062     10   1.00   3.00       0.18      2      0.089          West Zone
----------------------------------------------------------------------------
JTR-063     12   0.00   5.00       0.72      5      0.144          West Zone
----------------------------------------------------------------------------
JTR-064     10   4.00   9.00       1.56      5      0.313          West Zone
----------------------------------------------------------------------------
JTR-065     14   6.00   8.00       0.46      2      0.231          West Zone
----------------------------------------------------------------------------
JTR-066      7   2.00   3.00       0.19      1      0.191          West Zone
----------------------------------------------------------------------------
JTR-067     10   4.00   8.00       0.71      4      0.176          West Zone
----------------------------------------------------------------------------
JTR-068      8                               1  Max 0.010          West Zone
----------------------------------------------------------------------------
JTR-069     20                               1  Max 0.028          West Zone
----------------------------------------------------------------------------
JTR-070     20                               1  Max 0.034          West Zone
----------------------------------------------------------------------------
JTR-071     15   4.00   8.00      0.573      4      0.143          West Zone
----------------------------------------------------------------------------
JTR-072     15   0.00  14.00      3.637     14      0.260          West Zone
----------------------------------------------------------------------------
JTR-073     18   1.00  17.00       1.76     16      0.110          West Zone
----------------------------------------------------------------------------

                 Table 1 - Joly Zone Trench Assay Results

GT (Grade Thickness Product) is calculated by multiplying grade by thickness (or width). The intersection is given for each trench with its associated grade. Each sample represents a one m channel which is approximately 5 cm wide by 5 cm deep over 1 m in length. The trench length is also noted.

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