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Forrestania displays alluring results at Lady Lila

16 December 2021 10:41
ASX: FRS

Forrestania has received multiple enticing results of shallow, open gold mineralisation from maiden drilling at its Lady Lila gold project, part of the Forrestania lithium, gold & nickel project, 400 kilometres east of Perth.

The project, holding a gold mineral resource, is prospective for gold, lithium, and nickel in the well-endowed southern Forrestania Greenstone Belt, with a tenement footprint spanning approximately 100km, north-to-south of variously 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.

Supergene mineralisation, defined over a 300-metre strike length, has shallow interceptions. An extension 50m south of the known resource is open in all directions and encourages comparison to its prestigious neighbours.

Lady Lila’s gold, hosted by a banded iron formation, is the same geological host as the famed Bounty gold mine, which holds over a million ounces and lies only 17km northeast of the project.

The existing inferred resource of 541 thousand tonnes at 1.38 grammes per tonne was constructed using holes drilled before 1999, and exploration holds the potential for considerable extension.

Forrestania believes previous explorers failed to test the southern extent of the mineralisation – and the programme has demonstrated the structure remains wide open.

Further examinations are planned for the new year.

FRS’ Australian Stock Exchange-listed price has risen 1.72pc today, currently trading at 30c (9:11 am UTC+8 hours)

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