Forrestania Resources (ASX:FRS) - CEO, Melanie Sutterby
CEO, Melanie Sutterby
Source: Melanie Sutterby / LinkedIn
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  • Forrestania Resources (FRS) has identified additional lithium targets at its wholly-owned and Western Australia based Mount Holland/Bounty East project
  • The potential site was found by reviewing the historical drilling and geology surveys that suggested the greenstone belt is potentionally 2.5 kilometres further east than previously outlined
  • The review of the historical data identified several high priority targets that were not adequately tested to the appropriate depth, with some not drilled or assayed
  • Forrestania has planned a drill program to re-test high priority targets, the timing will be decided upon the return of departmental and environmental approvals
  • Forrestania shares have fallen 2.53 per cent to 38.5 cents a share at midday

After a review of previous exploration work, Forrestania Resources (FRS) has identified additional lithium targets at its wholly-owned Western Australia based Mount Holland/Bounty East project.

The potential site was found by reviewing the historical drilling and geology surveys that suggested the greenstone belt is potentially a further 2.5 kilometres east than previously outlined, meaning the prospective horizon extends further east than previously targeted.

Dr Leigh Batteney was hired as a consultant for FRS and made the significant interpretations about the lithium prospectivity.

The review of the historical data identified several high priority targets that were not adequately tested to the appropriate depth. Some were not drilled or assayed despite several intersecting pegmatites.

The most recent exploration of the site was conducted by Marindi Metals, now Firefly Resources (FFR) between 2017 and 2018.

FFR actioned 306 air core holes for 8183 meters and 35 reverse circulation holes for 3750 meters over the area. Upon recent review, the results were re-announced on December 2 and confirmed the prospectivity.

FRS’ audit also confirmed that geochemistry is effective at targeting lithium, caesium and tantalum (LCT) pegmatites.

Revision of the date based and other areas of lithium occurrences are under review.

Forrestania has planned a drill program to re-test high priority targets, the timing will be decided upon the return of departmental and environmental approvals.

Forrestania shares have fallen 2.53 per cent to 38.5 cents a share at 1:25 pm AEDT.

FRS by the numbers
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