Mining Intelligence and News
Namibia

Norasa Project

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Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Uranium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotNorasa is one of only a few fully licensed undeveloped uranium deposits in the world.

Norasa consists of the Valencia and Namibplaas Uranium Projects.

The Forsys commenced processes to update the 2015 DFS. The Forsys sees potential to improve project economics by optimizing pit parameters and examining the potential of using heap leaching in mineral processing. The work program that began in mid 2023 and is anticipated to finish in mid 2024.

Owners

SourceSource
CompanyInterestOwnership
Forsys Metals Corp. 100 % Indirect
Forsys Metals Corp. holds the Norasa Uranium Project through its wholly owned subsidiary Valencia Uranium (Proprietary) Limited.

Contractors

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Deposit type

  • Vein / narrow vein
  • Pegmatite

Summary:

The Norasa deposits of Valencia and Namibplaas all fall into category 2 of high-temperature, late magmatic or “intrusive type” deposits. Latest work by NEX (verbal comms Feb 2015) highlights the pegmatitic tenor and consider moving this type from of pegmatitic/granite to more pegmatitic (category 4). Sub-types at Valencia and Namibplaas resemble a pegmatitic origin, such as the alkaline pegmatites at nearby Rössing and Husab Mine. The sub-types at Valencia and Namibplaas resemble pegmatite stage deposits, such as the pegmatitealaskite deposits of nearby Rössing and Husab or similar to the Crocker Well Uranium Project in South Australia.

Uranium deposits world-wide have been grouped into 14 major categories of deposit types based on the geological setting of the deposits. The Valencia deposit is an “intrusive type” of uranium deposit that is associated with alaskite intrusives that comprise massive stock-like bodies, dykes of varying thickness, sill like bodies and veins and veinlets, which can be either conformable with or transgressive to the Damara Sequence metasedimentary host rocks. Included in this type are those deposits associated with intrusive rocks including alaskite, granite, pegmatite and monzonites. Major world deposits include Rössing (Namibia), Ilimaussaq (Greenland) and Palabora (South Africa).

The uranium mineralization at Valencia is hosted only by alaskites that comprise massive stock-like bodies, dykes and sills of varying thickness and veins and veinlets, which can be either conformable with or transgressive to the Damara Sequence metasedimentary host rocks.

Uranium mineralization has been identified over an area of 1,100 m north-south by 500 m east-west. The mineralization dips at approximately 35° to the south and has been identified by DDH drilling to a depth of 499 m below surface (VA26-152).

Namibplaas in contrast to Valencia is a more rugged area and contains some steeper cliffs and gullies in its northern parts. NE striking strata forming higher elevations in its NW parts with alaskite sheets dipping in subparallel sets to the southeast. The succession being frequently incised by smaller NW-SE running gorges. The eastern edge of the deposit is marked by a smaller NE running Dry River which incises deeper towards the north.

At Namibplaas mineralisation is confined to syn- to post tectonic leucogranites which are similar in texture and mineralogy to the ones at the Valencia deposit. In addition to the usual D-type mineralised alaskite Namibplaas has mineralised magnetite rich C-type alaskites. This type is confined to the northern portion of the deposit and quite unique.

Uranium mineralization predominantly occurs in the finer-grained alaskite and rarely in the coarse pegmatitic phases. A close relationship also exists between the uranium and biotite content, as well as between the degree of uranium mineralization and apatite content. The uranium mineralization is variably distributed through the alaskite intrusions and, a great portion of the mineralization is well disseminated throughout the alaskite with local minor enrichments onto biotite selvages or local accumulations of magnetite.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Uranium M lbs 5.278
All production numbers are expressed as oxide.

Operational metrics

Metrics
Annual mining capacity 74 Mt *
Annual processing capacity 11.2 Mt *
Stripping / waste ratio 3.2 *
Waste tonnes, LOM 660.5 Mt *
Ore tonnes mined, LOM 206.1 Mt *
Total tonnes mined, LOM 866.7 Mt *
Tonnes processed, LOM 206.1 Mt *
* According to 2015 study.

Production Costs

CommodityUnitsAverage
Cash costs Uranium (U3O8) USD 34.7 / lb *  USD
Assumed price Uranium (U3O8) USD 65 / lb *  USD
* According to 2015 study / presentation.

Operating Costs

Currency2024
OP mining costs ($/t mined) USD  ....  Subscribe
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2015 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 1,266
Total OpEx $M USD  ......  Subscribe
Total Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Jul 1, 2024

Aerial view:

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