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FRS discovers more lithium potential at Forrestania

18 October 2021
ASX: FRS
Rueben Hale

Forrestania Resources has identified new lithium targets in less than a week after expediting drilling plans following early detection of lithium-bearing minerals at its Forrestania Lithium, Gold, and Nickel project, in Western Australia.

The newly-listed company has used advanced multispectral sensing technology (ASTER) to discover a second lithium target along strike and adjacent to the world-class Wesfarmers / SQM Mt Holland Lithium Mine.

FRS has lodged new tenement applications to secure areas within the 4-kilometre-wide “Goldilocks Zone” as it continues building upside across its communal landholdings supported by a substantial first-pass geochemical database inherited from former owners.

“Geologically, our package holds the potential to discover a range of commodities, including lithium, nickel and other speciality metals,” chief executive Melanie Sutterby said.

“With its status as a world-class lithium province ascribed within the past decade, explorers have only just scratched the surface at Forrestania, and we plan to play a lead role in the development of the area.”

The company’s next steps will target areas that represent broad exploration spaces to add to the company’s portfolio and complement the more advanced prospects, such as Gem.

The targets provide an area to focus ground-based work upon grant of the tenure, which will initially comprise geological reconnaissance, field checking and geochemical sampling.

Initial ground-truthing has already commenced as part of the Company’s ongoing exploration program.

As part of the current field program, geologists will map soil and rock chip sampling across the priority anomalies.

A historical database validation and audit is also underway, with the results used in future field programs.

FRS’s Australian Stock Exchange-listed shares had risen 2.47 per cent today, trading at 41.5c  (2:06 pm GMT+ 8 hours).

COMPANY OVERVIEW

Forrestania Resources Limited is an exploration company searching for gold, lithium and nickel in the Forrestania, Southern Cross and Leonora regions of Western Australia. The Forrestania Project is prospective for gold, lithium and nickel and is currently the only project, within the tenement portfolio that holds a gold Mineral Resource. The Southern Cross Project is prospective for gold and lithium and the Leonora Project is prospective for gold.

COMPANY INFORMATION

ASX: FRS

Website

https://forrestaniaresources.com.au/
https://www2.asx.com.au/markets/company/frs

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