Forrestania Resources Ltd (ASX:FRS) has kicked off its first reverse circulation (RC) drilling program at the Ada Ann prospect within the Bonnie Vale Project, situated near Coolgardie in Western Australia’s Eastern Goldfields region.
The point of the campaign is to expand upon previous high-grade results and explore the potential of the area’s gold-bearing structures.
Capitalising on gold price
“We are excited to be drilling at the highly prospective Ada Ann prospect, where previous high grade drill results have not had any serious exploration since 2008 when the gold price was less than A$1,000 per ounce,” Forrestania Resources chair John Hannaford said.
“Several shallow, high-grade intercepts from previous drilling represent very attractive exploration targets that we will be aiming to extend with this program.
“The recent surge in gold price has also heightened the value of a potential gold discovery at the project.”
The Bonnie Vale Project, which spans some 75 square kilometres of greenstone terrain, is a tantalising 8 kilometres from Evolution Mining's 5.9 million-ounce Mungari gold operations.
“Also of particular interest is the investment by Evolution Mining of $250 million to double production capacity at its Mungari operations underlining their commitment to the project and the long term gold production potential of the area,” Hannaford noted.
Primary objectives
Forrestania’s current RC program at Ada Ann will consist of around 21 drill holes across 1,600 metres.
The primary objectives include testing mineralisation extensions at depth and along strike, particularly to the north and south of existing discoveries, as well as investigating a historical drill spoil sample that yielded a high-grade result of 49 grams per tonne (g/t) gold.
Historical drill results include intersections of 4 metres at 12.8 g/t gold from a depth of 25 metres and 16 metres at 2.6 g/t gold from 24 metres.
Forrestania plans to extend drilling beyond these intercepts to determine the scope of the deposit.
A Topdrill RC rig is on site and spinning at Ada Ann, with drilling expected to conclude within seven days and assay results within the next four to six weeks thereafter.
The Ada Ann prospect showing down-hole max gold assay data from historical drilling.
About Forrestania
This exploration forms part of Forrestania’s broader ambitions within the Norseman-Wiluna Greenstone Belt of the Yilgarn Craton, where the company holds over 1,000 square kilometres of exploration licences targeting gold, lithium and copper.
The Bonnie Vale Project can be found in an active mining region, with proximity to notable operations such as the Mt Holland Lithium Mine and Spotted Quoll Nickel Mine in the Forrestania Greenstone Belt.