Forrestania (ASX:FRS) strikes new promise at flagship lithium project
February 13, 2023Forrestania Resources has struck four sizable pegmatite targets on the second stop of its large-scale lithium-focused drilling programme at its flagship project in Western Australia’s south.
Targets tested at South Iron Cap East, the Giant Pegmatite, the Gem Pegmatite and Bounty East returned intercepts at 13 of 25 drilled holes, most notably a whopping 32-metre weathered felsic, interpreted as possible pegmatite at South Iron Cap East plus 14m at Bounty Prospect along with numerous pegmatite intersections at the Gem and Giant targets just 7km from Covalent Lithium’s world-class Mt Holland project.
Forrestania Chairman and Interim CEO John Hannaford said the enticing odds of making a significant lithium discovery have improved even further.
“We are pleased to report the completion of a very successful second lithium drilling programme at Forrestania, where four high-quality targets were tested,” he said.
“The discovery of several pegmatites of up to 32m width is highly significant, given that some targets have never been drilled.
“We look forward to receiving assay results which will assist in the design of follow-up drilling programmes.
“Any discovery in this region could lead to a company-making development given current lithium pricing, and with regional infrastructure, major mining operations and potential partners close by.”
Forrestania Project showing regional geology interpretation and location of drilling areas Bounty East, Gemcutter, Giant and South Iron Cap East.
Price Action
Forrestania Resources (ASX:FRS) shares are 17.5c at today’s Market Open.
About the Drilling
Forrestania Resources has successfully completed its second lithium-focussed reverse circulation (RC) drilling programme at its flagship Forrestania lithium project in WA’s southern Yilgarn region. The company drilled 25 RC holes across four key prospects for 3,983m to test geochemical lithium and pathfinder anomalies, pegmatite surface exposures and the extension of pegmatites intersected in historic drilling.
Next Steps
Samples have been collected and delivered to ALS for lithium and gold analysis, with expected results within the next six weeks.
Pending assay results, XRD or other spectral analysis, will be completed on select mineralised samples to confirm mineralogy.
Meanwhile, Forrestania is excited to follow up this successful programme with further exploration drilling and is also looking to progress the requisite governmental approvals.
Fundamental Data
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