Forrestania Resources Ltd (ASX:FRS) has reiterated the “strong gold exploration potential” of the Ada Ann and Bonnie Vale North prospects within its Eastern Goldfields Project in Western Australia, returning gold samples of up to 49.0 g/t gold from fieldwork.
The strong results have lifted the company’s share price by as much as 157% this morning to 3.6 cents per share, up from its 1.4 cents closing price yesterday.
Recent site visits at the Ada Ann prospect — which is about 8 kilometres from Evolution Mining’s 5.3-million-ounce Mungari operation — have returned significant grab samples results from previously unrecorded, historic drill spoils, including 49 g/t, 15.7 g/t and 13.5 g/t gold.
Additionally, historic gold drilling results compiled from recent WAMEX data reviews at Ada Ann include 7 metres at 5.01 g/t from 4 metres and 1 metre at 4.75 g/t from 24 metres; 12 metres at 2.68 g/t from 8 metres; and 2-metres at 8.08 g/t from 14 metres.
This is in addition to other historic drilling results announced previously, such as 16 metres at 2.64 g/t from 24 metres; and 4 metres at 12.80 g/t from 25 metres.
Forrestania has completed multiple field and site visits to the Ada Ann and Bonnie Vale North prospects, just north of Coolgardie, and has spent a significant amount of time collating and capturing historic data.
At Bonnie Vale North historic drilling results show open zones of gold mineralisation, including 3 metres at 2.03 g/t gold from 77 metres, 8 metres at 0.40 g/t from 54 metres and 6 metres at 0.51 g/t from 36 metres.
The Bonnie Vale and Bonnie Vale North projects showing the location of the Ada Ann prospect.
Very encouraging results
Forrestania Resources’ chairman John Hannaford said: “The company is very encouraged by these highly significant gold results after a more thorough review of previous work at Ada Ann and follow-up site visits, confirming a second prospective zone with high-grade grab samples from historic drilling spoils.
“The developing gold story at this project can be quickly advanced to a potentially valuable asset for the company given the very favourable location nearby of several active mills and excellent logistics, with a haul road immediately adjacent to the project area.”
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