FBM Expands Eastern Goldfields Presence, Boosting Gold Potential

2 min read | January 02, 2025 11:00 AM AEDT | By Team Kalkine Media

FBM Expands Eastern Goldfields Presence, Boosting Gold Potential

Gold and Lithium Prospects

FBM is keen on diversifying its portfolio by incorporating high-grade gold prospects. With gold currently priced at US$2750/oz and positive market predictions, the timing aligns with FBM's strategic expansion. The prospecting applications cover an area east of Horizon Minerals’ Burbanks mine, a historical top producer within the Goldfields.

The company's exploration initiatives extend to assessing potential sub-surface lithium-caesium-tantalum pegmatites. Comprehensive geological work, including magnetic geophysics reviews and surface mapping, is planned for Q1 2025.

Continuing Exploration Amid Lithium Market Challenges

Despite a downturn in the lithium market since mid-2023, FBM has continued its exploration activities. The company retains confidence in its Kangaroo Hills and Miriam lithium projects in Coolgardie, viewing them as key opportunities amid a challenging market environment.

Although lithium prices have dropped, the demand continues to grow, presenting potential for future gains. FBM's robust financial position, bolstered by the cash sale of a non-core Nevada lithium project, supports ongoing exploration and evaluation plans for the Goldfields over the next 18-24 months.

An initial review of FBM's Kal North project has shown promising gold discovery potential, with plans for drilling in promising pegmatite targets on the horizon.

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