Forrestania (ASX:FRS) lifts the lid on South Iron Cap East
January 25, 2023Forrestania Resources has broke ground at its high-priority South Iron Cap East lithium prospect beginning its 100km end-to-end campaign at the southern portion of its namesake project, just 1km to the east of IGO’s high-grade lithium intercept of 50.6m @ 0.95% Li2O1.
location of pegmatite outcrop and tantalum soil anomaly at South Iron Cap East
The campaign will explore the vast potential of the well-endowed southern Forrestania Greenstone Belt, containing the right rocks for potential scale discoveries similar to the historic 1Moz Bounty gold deposit, emerging Kat Gap gold deposit, the operating Flying Fox, Spotted Quoll nickel mines, and the more recently discovered Earl Grey lithium deposit.
After drilling at the first site, the 5000m RC programme will move to the Gemcutter and Giant Pegmatite prospects before finishing at the Bounty East prospect near the Wesfarmers/SQM Mt Holland lithium project at the northern end before the end of the quarter.
Forrestania Lithium, Gold and Nickel Project, Western Australia
“We are excited to finally be drilling these high quality targets,” Chairman and Interim CEO John Hannaford said.
“Each has the potential to host a company making discovery and creating value for our shareholders.
“The current economics of lithium production is exceptional and with abundant infrastructure in the area, there are many opportunities for a discovery.”
Price Action
The Company’s ASX-listed shares are 19c in early morning trading.
About the Forrestania Project
Forrestania Resources’ (FRS) cornerstone Project is located in the Archaean Forrestania Greenstone Belt of Western Australia, approximately 80km east of Hyden.
The Project occupies a dominant land position with contiguous tenure covering approximately 623km² that is host to numerous overlooked lithium targets, historical high-grade gold projects and early-stage nickel geochemical anomalies.
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