Forrestania Resources have revealed a large, untested lithium target area extending 150 metres from existing pegmatite intersections at its namesake project in the Western Australian Goldfields.
Anomalous lithium results were returned from an unassayed hole at the Gemcutter prospect — and coincided with high grade lithium rock chips collected from around the historic Gem pegmatite mine.
Already standing at high priority, Gemcutter sits perched within the key Goldilocks corridor and has shown its quality with a return of 34 metres at 3.1 per cent lithium oxide just one kilometre north of Gem.
The company said the possibility of a link between results and the historic Gem pegmatite mine was an exciting development.
“The Gemcutter prospect is already one of the Company’s priority target areas — this new target reinforces the significant potential in the area and the broader Forrestania Project,” chief executive Angus Thomson said.
A Programme of Work has been approved for the area and plans for a December quarter drill program are underway amid multiple exploration and approvals workstreams.
FRS’ Australian Stock Exchange-listed share price has risen 13.33 per cent today, currently selling at 17c (10.53 am UTC+ 8 hours).