Forrestania (ASX:FRS) confirms history at Calypso prospect

RC drilling at the prospect at the southern end of the Company’s fertile 100-kilometre Greenstone Belt is part of the Company’s flagship Forrestania Project which is prospective for significant lithium, gold and nickel discoveries.

The Company said the geochemical anomaly defined over ~1.4kms adds to a growing list of targets encountered across many of the belts under and even untouched areas.

Location of Calypso prospect, showing position relative to “Goldilocks” exploration corridor, coincident ASTER response and Western Areas drilling at South Ironcap.

“The identification of a pegmatite subcrop at the Calypso prospect is an excellent outcome for the geology team at Forrestania,” Chairman and Interim CEO John Hannaford said.

“The discovery continues to demonstrate the effectiveness of the company’s planned and ongoing regional infill soil sampling programs to identify and generate new target areas.

“While it is still only early days in terms of our exploration efforts at Calypso, this is significant, being the first pegmatite outcrop which corresponds with historic pegmatite drill hole intercepts on the western flank of the Forrestania project.

“The Calypso prospect is located ~5km west of our South Ironcap East prospect and ~4.5km west of IGO’s South Ironcap prospect, where 50m @ 0.95% Li2O was recorded in pegmatites in a nickel focussed drill hole.”

Price Action

The Company’s ASX-listed shares are 16.6c at Market Open.

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About Forrestania Resources

Forrestania Resources is an ASX-listed mineral explorer and developer focused on lithium, gold and nickel exploration in un-and-under-explored regions of Western Australia. Coupled with a low Enterprise Value of approximately $5M, the Company’s asset portfolio sets a solid foundation for future shareholder value.

Multi Commodity Prospectivity

Forrestania Resources was formed around the consolidation and acquisition of critical tenements across three prolific and highly prospective mineral provinces in Western Australia, identified for their lithium, gold and nickel potential. The Company’s assets include three significant projects, the Forrestania Lithium, Gold and Nickel Project, Southern Cross Gold Project, and the Leonora Gold Project.

The Forrestania Project represents a significant consolidation of key tenements across the well-endowed southern Forrestania Greenstone Belt, a highly prospective mineral province in WA with multi-commodity prospectivity (with nickel/gold).

The Forrestania Project is located in a world-class neighbourhood – adjacent to Wesfarmers / SQM Mt Holland Lithium Mine and Western Areas Forrestania Project (Spotted Quoll, Flying Fox nickel mines).

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