Forrestania Resources (ASX:FRS) to focus on possible Breakaway lithium district in Goldfields

Forrestania Resources (ASX:FRS) to focus on possible Breakaway lithium district in Goldfields

February 26, 2024 Off By Amanda Ellis

Forrestania Resources will run a Breakaway Dam drilling campaign in Western Australia’s Eastern Goldfields after determining the dam area prospect near Wesfarmers (ASX:WES) and Rio Tinto (ASX:RIO) could be of district scale.

The WA company will step up plans for its strategic Breakaway Dam prospect in the Goldfields after reviewing the area’s geochemistry and data to determine the area was potentially a district size.

West Perth-based Forrestania’s review of dam prospect information encouragingly found pegmatite intercepts not tested for lithium, with a number of the holes ending in pegmatite.

Forrestania Resources Chairman John Hannaford noted previous exploration had not targeted lithium and flagged any discovery at the prospect could be of a large scale.

“Our review of previous exploration data revealing an 18-metre pegmatite intercept to bottom of hole has significantly enhanced the prospectivity of the Breakaway Dam project,” he said.

“The logged pegmatite is in close proximity to lithium rock chip results, along the about 20-kilometre monzogranite/greenstone contact.

“The extent of the company’s tenement package encompassing this prospect mean that any discovery could be potentially very large in scale.”

Breakaway Dam is part of the company’s Eastern Goldfields Project and is in Leonora, about 17 kilometres from Menzies, adjacent to Wesfarmers (ASX:WES) and Rio Tinto (ASX:RIO).

The untested prospective pegmatite intercepts are from a 20km geologically significant greenstone-monzogranite contact which features extensive, highly anomalous potassium-rubidium (K/Rb) geochemistry.

Forrestania finalising its drill targets at Breakaway’s pegmatite outcrops and strong geochemical targets, with a view towards drill-testing the ground in the June quarter of 2024.

Besides being prospective for large-scale lithium discoveries, the company believes its broader Eastern Goldfields Project also has tenements on areas highly prospective for large-scale multi-commodity discoveries of copper, rare earths and gold.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us