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Forrestania Resources Assay Results Confirm Spodumene-Bearing Mineralisation at South Iron Cap East

21 August 2023 14:00
ASX: FRS

Forrestania Resources Limited (ASX:FRS) has reported promising assay results from its latest lithium-focused reverse circulation (RC) drilling program at the Forrestania Lithium Project, with the results highlighting the presence of significant lithium-bearing mineralisation at South Iron Cap East and the continuation of high-grade lithium mineralisation at the Giant pegmatite.

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Figure 1: Forrestania Project showing regional geology interpretation including location of lithium prospects

Positive Results Bolster Exploration Efforts

The assay results from the recent drilling campaign have provided strong validation for the Company’s exploration strategy, with key highlights from the assay results including:

South Iron Cap East

Assay results from drill hole FSIR0010 at South Iron Cap East have confirmed the presence of shallow spodumene-bearing mineralisation. The intercept includes a 5-metre interval with a lithium oxide (Li2O) content of 0.55%, and within this interval, a 2-metre section exhibits even higher lithium content at 0.95% Li2O. This discovery not only extends the mineralised pegmatite into the Company’s tenure but also underscores the effectiveness of systematic geochemical sampling in identifying spodumene-bearing pegmatites.

Giant Pegmatite

The Giant pegmatite continues to reveal its potential as a high-grade lithium deposit. Assay results from drill hole FGIR0006 exhibit a 9-metre interval with a Li2O content of 0.95%, and a 3-metre portion within this interval demonstrates even more impressive lithium content at 2.23% Li2O. These findings underscore the consistent nature of the pegmatite and its potential for hosting economically viable lithium mineralisation.

Further Exploration and Analysis

Having secured all necessary approvals, Forrestania Resources is set to commence follow-up drilling imminently to explore extensions of the spodumene-bearing intercepts at South Iron Cap East. The focus will be on gaining deeper insights into the geometry and structural characteristics of the highly prospective pegmatite system.

The Company’s optimistic outlook stems from the nature of pegmatites in the region, which are known to show variations in thickness. Notably, the intercept at South Iron Cap East is in proximity to historic assay results from neighbouring tenements, further enhancing the Project’s promise.

Additionally, at the Giant pegmatite, although the continuity of mineralisation is evident, the Company aims to refine its geological understanding to identify potential areas for expansion or intersections with broader mineralisation trends. Furthermore, exploration efforts are particularly directed towards identifying mineralised zones at depth, where the high-grade lithium zone remains open for further exploration.

Insights into Calypso Pegmatites

While the assay results from Calypso pegmatites demonstrate mineralogy typical of lithium, cesium, and tantalum (LCT) pegmatites, the degree of fractionation in this specific area appears insufficient to support ore-grade lithium mineralisation.

Peak lithium values of 213 parts per million (ppm) were returned from drill hole FCAR0005, indicating the absence of economic-grade lithium mineralisation.

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Figure 2: Plan view showing drilled holes at Calypso

Nonetheless, the assay results have indicated enrichment in Rare Earth Elements (REEs), particularly cerium and lanthanum, within weathered clays. Notably, an assay peak of 2m @ 689ppm CeO2 and 334ppm La2O3 was observed.

Further analysis will provide a comprehensive suite of REE results, offering insights into potential economic implications.

Future Directions

The confirmation of spodumene-bearing mineralisation at South Iron Cap East, coupled with continued high-grade lithium hits at the Giant pegmatite, reinforces the scope for economically viable ore-grade mineralisation within these pegmatite systems.

Forrestania Resources Managing Director Michael Anderson commented, “Our systematic exploration at Forrestania continues to deliver positive results. We are encouraged not only by the intersections of spodumene, but also the lithium grades at Giant, and now South Iron Cap East. This all demonstrates the potential for these pegmatite systems to host ore grade mineralisation.”

“We will be drilling again shortly at South Iron Cap East to test for extensions of the mineralisation, and to gain further insight into the geometry of this highly prospective pegmatite system.”

FRS’s Australian Stock Exchange-listed share price is currently trading at 6.2c (1:30 pm UTC+ 8 hours).

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