Forrestania Resources has come out swinging with a broad batch of gold results across three separate plays in Western Australia, showing the junior explorer is not relying on a one-project wonder to make its mark.
The company has released a clutch of high-grade drilling results from drill programs at its British Hill, Mt Palmer and Johnson Range projects, all located in WA’s prolific Yilgarn gold belt.
The gold assay numbers across all three key grounds are genuinely impressive, with bonanza-grade intercepts popping up at multiple sites.
Although separated by distance, British Hill, Mt Palmer and Johnson Range are united by geology, each sitting within the Yilgarn Craton’s Southern Cross domain. This belt has been churning out gold for over a century and shows no signs of stopping.
At British Hill, 75km south-southeast of Southern Cross, Forestania completed 10 holes for 2906 metres of combined reverse circulation (RC) and diamond drilling. The program was designed to test mineralisation at depth and along strike and it did not disappoint.
The best intercept from the program was a cracking 9-metre hit at 2.60 grams per tonne (g/t) gold from 78m, featuring a high-grade 1-metre spike at an impressive grade of 11.97g/t.
The same hole also returned 4m at 2.24 g/t from 102m and 2m at 5.82 g/t from 120m, delivering consistent intercepts across a wide downhole interval, hinting at a robust lode system.
The deposit is hosted in an Archean greenstone belt with gold found in quartz veins, and appears to remain open at depth. Importantly for development, it sits on a granted mining lease. Forrestania is focused on converting inferred resources into indicated resources via infill drilling, while simultaneously evaluating milling options for the ore.
Meanwhile, at Mt Palmer, roughly 15km east of Marvel Loch, the company completed 36 RC holes for 2392 metres. The results here are especially eye-catching, with the best grades sitting close to the surface - always a good sign for potential economics.
One drill hole delivered a 6-metre section grading a healthy 7.60g/t gold from just 3m depth, including sub-intervals of 1m at an eye-catching 19.67g/t and another metre at a stellar 10.77g/t.
Another hole hit 18m at 1.90g/t gold from surface, demonstrating decent width as well as grade. Further assay results from drill holes are still pending, leaving Forrestania with plenty of news flow still to come.
The company acquired its initial 80 per cent interest in Mt Palmer through its recent takeover of Kula Gold and this first batch of results suggests the acquisition is already paying dividends. The high-grade mine has an impressive pedigree, having historically delivered 158,000 ounces of gold at a whopping average grade of 15.9 g/t.
Perhaps the most exciting results in today’s release come from Johnson Range, 170km north of Southern Cross. The project hosts the historical Gwendolyn deposit and Forrestania’s 48-hole, 4344-metre RC program has confirmed there is plenty more gold to be found here.
One standout hole returned a headline-grabbing 7m at 11.63g/t gold from 17m, including 4m at a whopping 19.73g/t. Another hole hit a chunky 7-metre slice running at 6.79g/t from 135m depth, indicating the system continues to carry grade well below the open-pittable zone.
Other notable intercepts included 2m at 9.23g/t from 39m and 4m at 8.69g/t from 39m in separate holes.
The Johnson Range project sits within the Marda-Diemals greenstone belt, a geological setting that has produced significant gold deposits across the Southern Cross domain, including the Copperhead Mine, which has produced more than 1 million ounces of gold. Notably, additional assay results from this program remain pending, suggesting the Johnson Range story may have further chapters to unfold.
Being able to update the market on three separate projects at the same time is a testament to the work being delivered by the Forrestania team in the field and our laboratory partners.
By methodically and systematically undertaking smaller, continuous drill programs across the portfolio, we are able to operate in an efficient and cost-effective manner while maintaining exploration momentum.”
The company says the key takeaways from the latest batch of numbers are threefold. First, Forrestania is delivering on multiple fronts simultaneously, reducing single-project risk.
Second, the grades being returned, especially the near-surface hits at Mt Palmer and Johnson Range, are indisputably high grade by industry standards.
Third, with results still pending at both Mt Palmer and Johnson Range, there is a near-term catalyst pipeline that should keep the news flowing. At the same time, drill rods are currently turning at its Lady Lila and Gibraltar gold projects.
With all three reported projects sitting on granted mining leases and two in close proximity to the Lake Johnston processing facility, Forrestania appears to be building a first-class foundation as it moves from explorer to developer.
Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au
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