Forrestania (ASX:FRS) get on the ‘Goldilocks’ path
December 20, 2022Forrestania will begin high-priority lithium drilling targets along a 100kms of ‘Goldilocks’ zone through its strategic Forrestania project tenements in Western Australia’s South in January 2023.
Drilling will kickoff at Gem, Giant and Bounty East (Bounty just 6km from the world-class Mt Holland lithium mine) prospects in the north, before the 5000m RC campaign moves south along the path to the highly anticipated exploration of South Iron Cap East proximate to Western Areas (now IGO) previously reported significant lithium intercepts.
Location of South Iron Cap East and Calypso prospects, showing position relative to “Goldilocks” exploration corridor, coincident ASTER response and IGO’s South Iron Cap Prospect
At the Giant Pegmatite prospect, exploration will focus on confirming the extent of
the previous high-grade intercept of 34m @ 3.1% Li2O.
“Today’s announcement is significant marking the receipt of final approvals to drill the highly prospective Giant Pegmatite where a historic drillhole intercepted 34m @ 3.1% Li2O,” Chairman and Interim CEO John Hannaford said.
“We are also planning to drill test other high quality prospects including South Iron Cap East, which is a significant, undrilled target given its proximity to IGO’s South Iron Cap lithium discovery.
“Along with other planned drill targets the Company will have a very active drilling programme to start to 2023.”
Price Action
Forrestania Resources (ASX:FRS) shares have risen 16% to 14.5c in the first minutes of trading.
Work Programme
- Giant Pegmatite, targeting extensions of a previous discovery of 34m @ 3.1% Li2O from 68m
- Gemcutter, targeting extensions to historic pegmatite and lithium intercepts beneath the Gem Mine
- Bounty East, drilling across the major tantalum anomaly zone on a line that has not previously been drilled, only 6km east of the world-class Mt Holland lithium mine.
- South Iron Cap East, testing the prospect identified in April, which includes an anomalous tantalum in soil zone of over 2.5km in length with a pegmatite outcrop, located less than 1km the east of IGO’s South Iron Cap drill intercept where 50.6m @ 0.95% Li2O was recorded from a nickel focussed drill hole.
About Forrestania Resources
Forrestania Resources was formed around the consolidation and acquisition of critical tenements across three prolific and highly prospective mineral provinces in Western Australia, identified for their lithium, gold and nickel potential. The Company’s assets include three significant projects, the Forrestania Lithium, Gold and Nickel Project, Southern Cross Gold Project, and the Leonora Gold Project.
The Forrestania Project represents a significant consolidation of key tenements across the well-endowed southern Forrestania Greenstone Belt, a highly prospective mineral province in WA with multi-commodity prospectivity (with nickel/gold).
The Forrestania Project is located in a world-class neighbourhood – adjacent to Wesfarmers / SQM Mt Holland Lithium Mine and Western Areas Forrestania Project (Spotted Quoll, Flying Fox nickel mines).
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