Forrestania Resources (ASX:FRS) is still awaiting the results of survey work undertaken at its Hydra Lithium Project in northern Quebec, Canada during the past quarter.
Hydra is the subject of a 50:50 joint venture between ALX Resources (TSX-V:AL) and Forrestania and is designed to explore for lithium-caesium-tantalum (LCT) bearing pegmatites, with ALX as operator.
During Q4 2023, target generation at the Hydra Lithium Project was ongoing with field work focused on the Volta sub-project. The Volta sub-project lies 20km to the east of Patriot Battery Metals’ (TSX-V) Corvette deposit, 1km north of the Corvette property boundary.
Additionally, during the quarter, ALX Resources engaged Axiom Exploration Group to complete analysis of Synthetic Aperture Radar (SAR) as well as Sentinel & ASTER (Advanced Spaceborn Thermal Emission & Reflection) Multispectral data over the Nike, Sprite ,and Echo sub-projects, within the Hydra Lithium Project.
By combining modern remote sensing techniques, using multispectral imaging and Synthetic Aperture Radar (SAR) to analyse vegetation, structure, alteration, and ground movement, complex anomalies covering large areas can be effectively identified.
The company says this is a multivariate exploration approach, combining existing geological, geochemical and geophysical data with multiple satellite analyses, with the hope of identifying new potential mineral targets and underlying structures.
These results are still pending.
On 18 December 2023, the $4.53 million market capitalisation company says a heritage survey completed at its Breakaway Dam Project in WA paved the way for the company to conduct a maiden drilling program across the ‘highly prospective’ area, as reported by Mining.com.au.
The company notes aboriginal heritage surveys were completed with the help of the Nyalpa Pirniku Native Title Group at Breakaway Dam. Both surveys were completed while the company awaited results from field exploration.
Results are expected to help finalise a maiden drilling program planned for early 2024.
According to Forrestania’s latest quarterly report released today (31 January 2024), previous field work at the project area has returned anomalous rock chips with up to 0.4% lithium and up to 26.7% copper.
Around this time further environmental surveys were completed at the company’s namesake project, also in WA. Additional environmental surveys alo undertaken during the quarter at South Iron Cap East where Forrestania has previously intersected spodumene-bearing pegmatites.
On-ground field and geochemical work has been ongoing through the quarter.
During the quarter, the company announced the departure of Managing Director Michael Anderson. Chairman John Hannaford has stepped up as acting interim Chief Executive Officer (CEO) until a suitable appointment is made.
Scott Patrizi was also appointed to the board as Non-Executive Director.
Forrestania Resources closed the books on the December quarter $1.279 million cash and cash equivalents at hand following an oversubscribed $1.78 million capital raise.
Forrestania Resources is an explorer searching for lithium, gold, and nickel in the Forrestania, Southern Cross, and Eastern Goldfields regions of WA and lithium in the James Bay region of Quebec.
Write to Adam Drought at Mining.com.au
Images: Forrestania Resources
