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Highlights
- Forrestania Resources is preparing to drill at the Ada Ann prospect.
- Drilling will explore gold mineralisation depth and strike extensions.
- Topdrill will accept partial payment in equity for drilling services.
Forrestania Resources (ASX:FRS) is gearing up for an exciting new phase of exploration at the Ada Ann prospect, located within the Bonnie Vale Gold Project. Situated in the well-known Eastern Goldfields region of Western Australia, this project is in close proximity to Evolution Mining’s (ASX:EVN) significant Mungari Gold Mine, which boasts an impressive five-million-ounce resource.
The company has secured a reverse circulation (RC) drill rig from Topdrill, a trusted contractor, with plans to commence drilling on October 23. The upcoming program consists of 21 drill holes, covering a total of approximately 1,600 meters. This phase marks the start of multiple planned drilling initiatives at Bonnie Vale, with Ada Ann being the initial focus.
First Target Area
The Ada Ann prospect is a key focus of Forrestania Resources’ current exploration efforts. The objective is to test the high-grade gold mineralisation at depth and along strike within exploration licence E15/1632. Historical drilling in the area has already revealed significant gold intersections, with mineralisation remaining open in all directions. This suggests further potential for expansion both north and south of known mineralisation zones.
Additionally, the exploration team will be investigating an area with historical drill spoils, where past results have returned exceptionally high gold grades, including 49 grams per tonne (g/t) gold. The drilling will aim to explore both extensions of the known mineralisation and the potential for new zones of gold deposits at depth.
Drilling Support from Topdrill
Topdrill, the drilling contractor for the program, has demonstrated its confidence in Forrestania Resources’ gold targets by agreeing to take part of its payment in equity. This move underscores the contractor's belief in the potential success of the project. By accepting partial payment in shares, Topdrill is showing significant support for the company's exploration goals.
Forrestania Resources chairman, John Hannaford, expressed optimism about the upcoming program, noting the importance of this first round of drilling at Ada Ann. "We are testing several known areas of mineralisation and aiming to extend the prospect significantly, as it is open in all directions," he said.
With this phase of exploration poised to begin, Forrestania Resources is positioned for potential discoveries as the company seeks to unlock further value from its Bonnie Vale Gold Project.
