Forrestania Resources will drill its highest priority targets in less than a fortnight at the Gem Pegmatite, South Iron Cap East, Gemcutter and Bounty East prospects, part of the Company’s flagship namesake Project spanning more than 100km of prospective ground in Western Australia’s south.
A drilling crew, which has arrived on site, will commence a 5000 metre RC interrogation of the highly anticipated lithium targets stretching the entirety of the Project’s 100km Goldilocks Zone in less than a fortnight.
At the southern end of the 100km strategic tenement package, drilling will explore the extent of a previous 34m 34m @ 3.1% Li2O discovery from 68m.
Moving northeast, testwork will apply rigour on anomalous tantalum in soil over 2.5km bearing a pegmatite outcrop at the relatively new South Iron Cap East prospect.
In the north, Gemcutter exploration will target extensions to historic pegmatite and lithium intercepts beneath the Gem Mine before eyes move to Bounty East, where drilling moves across a central tantalum anomaly zone, targeting deeper mineralisation on a drill line that has not previously been drilled, only 6km east of the world-class Mt Holland/Earl Grey lithium mine.
We are excited to be drill testing four high quality targets in what is a watershed moment in the Company’s short history,” Chairman and Interim CEO John Hannaford said.
“Each of these targets has the potential to host a company defining lithium project.
“With regional infrastructure and processing options even a modest discovery can be very profitably developed.
“It continues to be an exciting time for our shareholders.”
About Forrestania Resources
Forrestania Resources Limited is an exploration company searching for lithium, gold, and nickel in Western Australia’s Forrestania, Southern Cross and Leonora regions. The Forrestania Project is prospective for lithium, gold and nickel and is currently the only project within the tenement portfolio that holds a gold Mineral Resource.
The Forrestania Project is situated in the well-endowed southern Forrestania Greenstone Belt, with a tenement footprint spanning approximately 100km, north-to-south of variously metamorphosed mafic/ ultramafic/volcano-sedimentary rocks host to the historic 1Moz Bounty gold deposit, emerging Kat Gap gold deposit, the operating Flying Fox, and Spotted Quoll nickel mines, and the more recently discovered Earl Grey lithium deposit.
The Southern Cross Project tenements are scattered within proximity to the town of Southern Cross and located in and around the Southern Cross Greenstone Belt, which extends along strike for approximately 300km from Mt Jackson to Hatters Hill in the south. The Company believes the potential for economic gold mineralisation at the Southern Cross Project has not been thoroughly evaluated. In addition to greenstone shear-hosted gold deposits, Forrestania is targeting granite-hosted deposits. New geological models for late Archean granite-controlled shear zone/fault-hosted mineralisation theorise that gold-forming fluids at deep crustal levels do not discriminate between lithologies when emplaced in the upper crust. Applying this theory, Forrestania has defined seven new targets.
The Leonora Project tenements are located within the Norseman-Wiluna Greenstone Belt of the Yilgarn Craton. The Project includes four Exploration Licences and six Exploration Licence Applications, covering a total of ~920km2. The tenements cover over 200km length of the greenstone belt. The southernmost tenement is approximately 15 km southeast of the town of Menzies, and the northernmost tenement is located about 70 km northeast of Leonora. Prior exploration of the project area has focussed on gold, diamonds, and uranium. Tenements in the Project have been subjected to soil sampling, stream sampling, drilling, mapping, rock chip sampling and geophysical surveys.
Both project areas have identified priority drilling targets, and the Company is well-funded to undertake effective exploration programmes.
The Company has an experienced Board and management team focused on discovery to increase value for Shareholders.
