Forrestania Resources (ASX:FRS) has reviewed further historical data from its Breakaway Dam tenement in Western Australia and outlined the ‘significant’ copper prospectivity of the area.
The $4.58 million market capitalisation company adds that this is on top of the lithium, gold, and rare earth elements (REEs) prospectivity evident across the broader Eastern Goldfields Project.
‘Significant’ historical and recent copper (Cu) rock chips returned from Breakaway Dam include 26.7% Cu, 15.4 parts per million (ppm) silver (Ag), and 0.5ppm gold (Au); and 23% Cu and 0.7ppm Au.
Meanwhile, historical drill results from Breakaway Dam include several high-grade copper hits, such as in hole BDRC10 with 6m @ 1.2% Cu and 11.1g/t Ag, including 1m @ 3.86% Cu from 85m.
Historical downhole electromagnetic (DHEM) survey results also suggest several potentially sulphide-bearing conductive plates are present. These remain completely untested by drilling.
Forrestania plans to complete further reconnaissance trips to geologically map and conduct additional geochemical sampling at Breakaway Dam.
A drilling program has been designed to test the copper anomalism in the area once full heritage approval has been granted.
The company has also applied for Exploration Incentive Scheme (EIS) funding to test the sulphide conductive bodies and the copper potential at the tenement.
Commenting on the exploration potential, Forrestania Resources Managing Director Michael Anderson says: “Since announcing the option agreement to acquire the Breakaway Dam tenement back in May, our team has been proactively reviewing the historical data, in parallel with a comprehensive mapping and sampling program.
“Our follow-up work has confirmed obvious prospectivity for copper, with high-grade rock chips proximal to earlier results“
Our follow-up work has confirmed obvious prospectivity for copper, with high-grade rock chips proximal to earlier results.
Importantly, previous geophysics identified a number of drill targets, which were never followed up, and we intend to make these an additional focus of our upcoming drill programs alongside the targets that have been generated for lithium, gold, and REEs across the broader Eastern Goldfields Project.
We, and no doubt our neighbours, are confident that the potential exists to make new discoveries in this highly prospective belt, and we look forward to drill testing our priority targets, once heritage approvals are in place.”
Announced in May this year, Forrestania inked a 2-year option agreement with private company Outback Minerals to acquire 4 tenements, with the Breakaway Dam being one.
The Breakaway Dam tenement is located within the Eastern Goldfields Project north of Coolgardie and Kalgoorlie, around the gold mining districts of Leonora and Menzies.
Overall, the Eastern Goldfields Project comprises 18 tenements in areas that Forrestania believes are ‘highly prospective’ for lithium, copper, REEs, and gold.
Forrestania Resources is a diversified exploration company focused on discoveries in the Forrestania, Southern Cross, and Eastern Goldfields regions of Western Australia. The company is also exploring for lithium in the James Bay region of Quebec, Canada.
As of 30 June 2023, the company had $2.117 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Forrestania Resources
