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- Updated MRE for MacPhersons deposit totalling 73,800oz.
- Global MRE of Forrestania now stands at 1,007,800oz.
- MacPhersons located within an area with demonstrated mining history.
Forrestania Resources (ASX:FRS) has taken its global mineral resource estimate (MRE) to more than one million ounces of gold after producing a boost in MacPhersons deposit numbers.
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The company’s global MRE now stands at 25,695,000 tonnes at 1.22 grams per tonne (g/t) for 1,007,800 ounces of gold. The upgraded MacPhersons deposit MRE has hit 2M tonnes at 1.15 g/t for 73.8Koz at a 0.5 g/t gold cut-off.
Part of the company’s Coolgardie Gold Hub, the MacPhersons deposit sits in the MacPhersons Reward project, 2.5km south of the MacPhersons Reward pit.
Beacon Minerals operated the MacPhersons Reward mine as its primary mining operation between October CY23 and February CY26. During this period, 28,604 ounces at a grade of 1.29 g/t was produced from the operation.
“MacPhersons complements our existing Coolgardie Hub portfolio, adding a mineral resource estimate of 73,800 ounce gold within an area with demonstrated mining history and strong geological potential,” chairman David Geraghty said.
“Together with our recent resource upgrades and acquisitions, this growing resource base strengthens our position as an emerging Australian gold company and provides a solid foundation from which to pursue future development opportunities and create long-term value for shareholders.
“Importantly, this update sees Forrestania surpass the one million ounce milestone, with our global JORC Mineral Resource now standing at 1,007,800 ounces of gold.
“Reaching this benchmark through targeted M&A and focused resource development over the last twelve months is a remarkable achievement and reflects the continued execution of our growth strategy.”
The MacPhersons gold project contains five approved mining leases, two pending mining leases and two prospecting leases, all of which are subject to mining lease conversion applications and one pending prospecting lease.
Forrestania is strategically expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through exploration, acquisitions and a commitment to unlocking the broader potential of these highly prospective belts.
FRS is steady at 56¢.
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