Forrestania Resources (ASX:FRS) reports an upgraded mineral resource estimate (MRE) of 126,290oz gold (Au) at its British Hill deposit in Western Australia, representing a 131% increase from the previous estimate.
The updated JORC MRE totals 2.62 million tonnes (Mt) at 1.50 grams per tonne Au for 126,290oz at a 0.50g/t cutoff. Indicated resources stand at 1.88Mt @ 1.43g/t Au for 86,080oz, marking a 180% uplift.
The resource upgrade follows a 19-hole drilling program comprising 4,764m, including 693m of diamond tails. Three reverse circulation (RC) rigs are currently drilling at the project, focusing on resource extension along strike and down-dip. Forrestania has also approved an additional 100-hole drill program.
Chairman David Geraghty says the combination of resource growth, ongoing drilling success, and regional infrastructure positions British Hill as a ‘key asset’ within the company’s broader Forrestania gold strategy.
“British Hill continues to expand, with a more than doubling of the previous MRE and a material increase in the proportion of higher-confidence indicated resources,” Geraghty says.
“With three RC drilling rigs on site and drilling continuing, we believe there remains significant opportunity to further expand the resource base and enhance project economics as we progress technical studies and evaluate future development pathways.”
British Hill extends approximately 1,100m along strike, up to 200m across strike, and reaches 250m depth below surface on granted mining lease M77/1256, located 75km southeast of Southern Cross in WA.
Forrestania is planning conceptual mining studies and metallurgical testwork alongside independent pit optimisation, which evaluated economic extraction at a gold price of $5,500 per ounce.
Forrestania Resources is focused on building a Western Australian gold business through exploration and acquisitions.
Write to Paula Fabe at Mining.com.au
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