FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

FRS pictures nickel and gold for Forrestania

9 December 2021
ASX: FRS
Rueben Hale

FRS has identified multiple, additional, high-quality drill targets following deep ground penetrating radar and historical data confirming telling anomalies at the Crossroads and Gemcutter prospects, part of the Forrestania Project located 400 kilometres east of Perth, in Western Australia.

The Deep Ground Penetrating Radar survey aimed to locate possible pegmatite structures at the Gemcutter prospect and to locate faulting and shear structures at the Crossroads prospect.

The radar snapped ‘highly encouraging’ images of maiden earth just below the surface at highly prospective Gemcutter with gently dipping structures providing a first and ‘highly encouraging’ first view of what lay beneath.

Meanwhile, multiple steeply dipping faults and shear zones were also snapped at the nearby Crossroads gold prospect, previously yielding gold results as high as 15.2 grammes per tonne.

The news comes with nickel trading not far off last month’s US$21,036 a tonne record high reached last month amid tight supplies and firm demand. Gold, although not shining quite so bright, is also tipped to remain robust at above US$1700 an ounce for the next 12 months.

Camera data will be reviewed concurrently with a review of the historical drilling data with encouraging results at both prospects.

FRS’s Australian Stock Exchange-listed shares has risen33.5pc (10:31 am UTC+ 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

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!