Forrestania (ASX:FRS) take up Hydra Lithium option

Forrestania Resources has exercised its option on the Hydra Lithium Project and established a 50:50 joint venture with ALX Resources to bring another lithium discovery to a white-hot James Bay lithium region in the Canadian province of Quebec.

Like the legendary sea monster, the Hydra Project has many heads.

The project covers an area of 300 square kilometres and comprises eight sub-projects that are situated on the margins of promising greenstone belts.

Hydra is located near several major regional discoveries and has outcropping pegmatites in various locations. Forrestania recognises the potential for LCT pegmatites and multiple lithium resources and has fully partnered with a reputable Canadian explorer to explore the area’s discovery potential.

“From our perspective securing a strategic foothold in the dynamic James Bay lithium space is hugely complementary to our existing project portfolio back at home in Western Australia and provides us with significant additional discovery potential. We very much look forward to collaborating with ALX to unlock that potential,” Forrestania Managing Director Michael Anderson said.

James Bay lithium

Historically explored for gold and base metals, the James Bay region covering the Ontario and Quebec provinces has quickly attracted a new wave of lithium exploration through a price downturn, and even Rio Tinto has been drawn to what might be Canada’s hottest exploration province.

A review of public-domain geological mapping and an AI-driven search of government assessment files led ALX to stake the Hydra properties, and it now has an equal Australian partner on deck to explore what Forrestania see as an immediate and cost-effective entry into the James Bay lithium space.

Hydra Lithium and proximity to significant nearby discoveries

Forward plan

ALX will undertake the bulk of the work on the ground. Still, the Forrestania team will join them as data review, airborne surveys, and fieldwork begin, with a proprietary AI process for pegmatite detection prioritising target definition for the JV partners as they start vectoring toward discovery at Hydra.

FRS.AX

FORREST FPO [FRS]

ASX

$0.046

$0.005

12.20%

FORREST FPO [FRS]

Sector: Basic Materials

Industry: Other Precious Metals & Mining

Employees:

Forrestania Resources Limited engages in the exploration and development of mineral projects in Western Australia and Canada. The company primarily explores for copper, gold, lithium, and nickel deposits. Its flagship property is Lady Lila project situated in Australia. Forrestania Resources Limited was incorporated in 2021 and is based in West Perth, Australia.

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