Forrestania Resources has announced a significant 37% increase in the gold grade at its Lady Lyla deposit located near Southern Cross, Western Australia. The updated mineral resource estimate reveals 922,000 tonnes containing 1.41 grams per tonne (g/t) of gold, equating to approximately 41,700 ounces. This upgrade contributes to Forrestania’s growing global resource inventory, surpassing the 1.5-million-ounce milestone, bolstered by recent acquisitions. Notably, the new estimate includes a high-confidence indicated resource of 478,000 tonnes at 1.66 g/t gold, which constitutes 61% of the total resource, indicating a lower risk for mining. The upgrade is supported by an extensive drilling campaign that included 63 holes and 8,379 meters of drilling, revealing high-grade hits such as a 20-meter section averaging 2.35 g/t gold.
Why It Matters
This resource update highlights the ongoing development and potential of Forrestania Resources as it strategically expands its operations in Western Australia. The Lady Lyla deposit’s proximity to the 1-million-ounce Bounty gold mine and the recent acquisition of Zenith Minerals, which added significant gold assets, strengthens Forrestania’s market position. The company is focused on enhancing its resource base while refurbishing its 3.2 million tonne per annum Lake Johnston processing facility, which is essential for future production. With these developments, Forrestania is on a path to potentially become a key player in the Western Australian gold sector.
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