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Forrestania extend Lady Lila’s gold prospects

23 February 2022
ASX: FRS
Jack Baker

Forrestania Resources confirmed the strike and depth of gold extensions at Lady Lila while increasing the size of its highly prospective Black Prince gold tenement near the company’s Great Southern Mine Centre in Western Australia.

The Lady Lila intersections, led by a 13-metre at 2.02 grams per tonne hit, extended the known mineralisation by 50 metres.

The result adds weight to historical data suggesting rapid definition of extensions to its 24,000 ounce open-ended gold resource.

Meanwhile, the Black Prince acquisition further consolidates gold fortunes with high-grade rock chips confirming a strike extension of around 1.6 kilometres.

Encircled by Forrestania tenements and returning a 28.2 grams per tonne grade, the Black Prince addition looks like a no-brainer, creating a substantial merged gold prospect adjacent to the prolific Great Southern site.

Recent board movement suggested a high-powered lithium focus, but the latest developments prove otherwise as gold rises over US$1900 per ounce.

Follow-up and maiden drilling are pending at the sites while the Perth-based company explores its priority lithium and nickel projects.

FRS’s Australian Stock Exchange-listed price has risen by 9 per cent today, trading at 30.5c (9:29am 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

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