- Forrestania Resources (FRS) identifies new lithium targets at its Forrestania Lithium Gold and Nickel Project in Western Australia
- The company has lodged two exploration licence applications, both of which secure new target areas that correspond with prospective features
- Areas prospective for lithium are now being ranked and prioritised based on coincident alteration, geological, geophysical and geochemical features
- Forrestania will now undertake geological reconnaissance, field checking and geological sampling over the new lithium target areas
- Shares in Forrestania are up a healthy 21.4 per cent on the market and are trading at 42.5 cents at 11:52 am AEDT
Forrestania Resources (FRS) has identified new lithium targets at its Forrestania Lithium Gold and Nickel Project.
The company’s namesake project lies in the Archean Forrestania Greenstone Belt of Western Australia, roughly 80 kilometres east of Hyden.
Forrestania has lodged two exploration licence applications, E77/2873 and E77/2872, both of which secure new target areas that correspond with prospective geological and geochemical features.
Additionally, they host large advanced spaceborne thermal emission and reflection radiometer (ASTER) alteration footprints.
ASTER sits onboard NASA’s Terra satellite which is useful for aiding in the interpretation of alteration mineralogy associated with buried mineral deposits.
Areas prospective for lithium are now being ranked and prioritised based on coincident ASTER alteration, geological, geophysical and geochemical features.
The ASTER data is being integrated into Forrestania’s targeting process and will be used to rank and define areas of interest.
CEO Melanie Sutterby commented on the findings.
“The ASTER data presented in this release is a small but significant part of our exploration efforts at the Forrestania Project, which is a unique and prospective portfolio,” Ms Sutterby said.
“Geologically, our package holds the potential to discover a range of commodities, including lithium, nickel and other speciality metals.”
“With its status as a world-class lithium province ascribed within the past decade, explorers have only just scratched the surface at Forrestania, and we plan to play a lead role in the development of the area.”
Forrestania will now undertake geological reconnaissance and field checking as well as geological sampling over the new lithium target areas.
Initial ground truthing has already begun with geologists undertaking mapping, soil and rock chip sampling across priority ASTER anomalies.
Shares in Forrestania were up a healthy 21.4 per cent on the market and were trading at 42.5 cents at 11:52 am AEDT.