Join our daily newsletter At The Bell to receive exclusive market insights
- Forrestania (FRS) confirms the discovery of lithium-bearing mineral spodumene at its South Iron Cap East prospect in Western Australia
- A targeted RC drilling program struck a six-metre wide section of spodumene-bearing pegmatite from a depth of 40 metres
- The company believes the spodumene system extends further, and investigative efforts will now be pivoted in this direction
- Late last month, the company also hit thick pegmatite bodies at its separate Calypso project, also in WA
- Forrestania shares last traded at 12 cents
Forrestania Resources (FRS) has confirmed the discovery of lithium-bearing mineral spodumene at its South Iron Cap East prospect in Western Australia.
A targeted reverse circulation (RC) drilling program struck a six-metre wide section of spodumene-bearing pegmatite from a depth of 40 metres. Lab results will need to be delivered before lithium mineralisation in commercial grades can be proven or disproven.
The company believes the spodumene system extends further, and investigative efforts will now be pivoted in this direction.
The promising lead marks the completion of the company’s latest RC campaign at its namesake project, which saw drilling hit two different prospects: South Iron Cap East and Giant.
“We have now discovered visible spodumene in pegmatite at South Iron Cap East… confirmation our exploration strategy at Forrestania is effective,” FRS Managing Director Michael Anderson said.
“Comprehensive field work programmes are planned or in progress and we remain confident in the discovery potential at all [of our] project areas.”
It is worth noting that the South Iron Cap East target – where the spodumene was found – straddles the border of acreage owned by ASX200 company IGO (IGO).
As for Forestainia, late last month, the company also hit thick pegmatite bodies at its separate Calypso project, also in WA.
FRS shares last traded at 12 cents.
