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FRS pictures nickel and gold for Forrestania

9 December 2021 12:23
ASX: FRS

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)

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