- Forrestania Resources (FRS) notes “excellent opportunity” at namesake project located east of Hyden in Western Australia following mapping trip
- Historic mining has returned high-grades of lithium and now FRS has reported grades of lithium, rubidium and caesium from rock chips at its Gemcutter prospect
- At the Great Southern and Black Prince prospects, recent samples returned up to 5.3 g/t gold
- The company says these prospects provide an excellent opportunity for its gold interest within the region
- Shares were trading down 3.9 per cent to 37 cents at 11:00 am AEDT.
Forrestania Resources (FRS) says its prospects within its namesake project located east of Hyden in Western Australia represent an “excellent opportunity”.
The project is located in the Archaean Forrestania Greenstone Belt of Western Australia and comprises the Gemcutter, Great Southern and Black Prince prospects where the company completed a mapping program.
In 2016, drilling undertaken by Firefly Resources (FFR) returned 33 metres at 3.2 per cent lithium.
Moreover, Forrestania notes an intersection of 18 metres at 0.27 per cent lithium from the Gem mine from a rotary air blast program in the early 1980s with no effective follow-up drilling.
Now at Gemcutter, rock chips taken by FRS have returned results including 3.2 per cent lithium, 17,914 parts per million (ppm) rubidium and 142 ppm caesium.
The company said most of the high-grade rock chips are centred on the Gem mine in the south of the tenement which has had limited modern-day exploration. It is encouraged by the fact that the previous high-grade drilling and rock chip are located one kilometre further north of this area.
South of Gemcutter are the Great Southern and Black Prince prospects which are home to a number of historic high-grade mines and high-grade rock chips.
Historical mine records show the Black Prince mine produced 126.5 tonnes of gold grading at 16.9 grams per tonne (g/t), while the Great Southern Mine reported a yield of 934 tonnes grading at 7.1 g/t.
Historic exploration also reportedly yielded multiple high-grade rock chips, including from quartz veins sampled at 22 g/t and 6.7g/t.
The company believes these two prospects represent an excellent opportunity for its gold interest within the region with recent samples returning up to 5.3 g/t gold.
Before further exploration begins, including drilling, Forrestania plans to undertake environmental assessments and further planning.
Shares were trading down 3.9 per cent to 37 cents at 11:00 am AEDT.