Forrestania Resources Boosts Lady Lila Gold Resource to 40,513 Ounces

Strong Phase 2 Drilling Results at Lady Lila

Forrestania Resources Limited (ASX – FRS) has released encouraging results from its Phase 2 reverse circulation drilling campaign at the Lady Lila gold prospect, located near Hyden in Western Australia. The drilling confirmed high-grade gold mineralisation that remains open in all directions, with notable intercepts including 15 meters at 1.3 grams per tonne gold and a standout 1 meter at 15.1 grams per tonne.

These results build on the maiden drilling program completed in 2021 and have enabled the company to upgrade its JORC-compliant mineral resource estimate to 1.2 million tonnes at 1.03 grams per tonne gold, equating to 40,513 ounces at a 0.5 grams per tonne cutoff. This represents a significant milestone for Forrestania Resources, highlighting both the quality and scale of the Lady Lila deposit.

Cost Efficiency and Future Exploration Plans

The discovery cost for the newly defined ounces is reported at a competitive $33 per ounce, underscoring the project's economic potential. Forrestania Resources is already planning a third drilling campaign, targeting approximately 2,000 meters to test the mineralisation further along strike and at depth. This next phase awaits approval of Program of Work (POW) permits on adjacent tenements under option agreements, including Lady Magdalene and Lady Ada.

The company’s chairman, David Geraghty, expressed optimism about the project’s future, noting the continuity and growth of the mineralised system and reaffirming the company’s commitment to advancing exploration and delivering shareholder value.

Community Engagement and Environmental Considerations

Forrestania Resources has taken proactive steps in community engagement by entering into a heritage agreement with the Ballardong Aboriginal Corporation, which represents the local indigenous community. This collaboration aims to ensure that exploration and development activities at Lady Lila benefit the wider Ballardong community.

Additionally, the company has engaged specialist consultants to conduct flora and vegetation surveys across the project area, reflecting an early commitment to environmental stewardship as the project progresses towards potential mining lease applications.

Technical Approach and Resource Confidence

The mineral resource estimate was developed using industry-standard techniques, including ordinary kriging for grade interpolation and rigorous quality assurance and quality control protocols throughout the sampling and assay processes. While no metallurgical testwork has yet been conducted, plans are in place to undertake such studies in upcoming drilling phases to enhance resource confidence and inform future development strategies.

The Lady Lila deposit is hosted within the Forrestania Greenstone Belt, a well-known geological setting for gold mineralisation, and shares similarities with the nearby historic Bounty Gold Mine. The mineralised zone extends over 1,400 meters along strike and dips steeply to the east, with mineralisation confirmed to depths of approximately 160 meters.