Forte Energy (ASX:FTE, LON:FTE) has completed the acquisition of a half share in two Slovakian projects owned currently by European Uranium.
Forte paid C$500,000 cash for the 50% stakes in Ludovika Energy and Ludovika Mining, the EUU subsidiaries that hold the mineral licences for the Kuriskova and Novoveska Huta uranium projects.
Forte Energy has to spend a minimum C$350,000 a year on the properties over the next ten years to retain its interest.
Mark Reilly, Forte’s managing director said: "We look forward to working closely with European Uranium on developing the Slovak uranium properties in this next exciting phase for the company."
The two projects have a combined resource of 11.7mln tonnes giving contained 57.6mln pounds of contained uranium.
Novoveska Huta is at the western end of the Carpathian uranium belt, about 50 kilometres northwest of Kuriskova and near the town of Spisska Nova Ves.
The deposit consists of a mining licence over one square kilometre and a surrounding fifteen square kilometre exploration licence.
Forte shares rose 6% to 0.27p.
