Forrestania Resources Announces Major Upgrade to British Hill Gold Mineral Resource Estimate
Key Takeaways
- •The updated British Hill mineral resource estimate totals 126,290 ounces of gold at 1.50 g/t from 2,620,900 tonnes.
- •The revised resource more than doubles the previous estimate and includes a higher proportion of Indicated-category resources.
- •Three reverse circulation drilling rigs are currently active on site with an additional 100-hole drilling program approved to support further resource growth.
- •British Hill is located approximately 75 kilometres south-southeast of Southern Cross within Western Australia's prolific Yilgarn gold mineral field.
- •FRS shares held steady at 33.0 cents following the announcement, valuing the company at $524.4 million.
Forrestania Resources (ASX:FRS) has unveiled a significantly updated JORC-compliant mineral resource estimate (MRE) for the British Hill deposit, part of the company's Forrestania Hub. The revised estimate stands at 2,620,900 tonnes grading 1.50 grams per tonne (g/t) of gold, representing a total of 126,290 ounces.
Chairman David Geraghty highlighted the scale of the upgrade, noting that the new figure more than doubles the previous mineral resource estimate while also delivering a material increase in the proportion of higher-confidence Indicated resources.
"British Hill continues to expand, with a more than doubling of the previous mineral resource estimate and a material increase in the proportion of higher-confidence Indicated resources," Geraghty said.
"The combination of resource growth, ongoing drilling success and excellent regional infrastructure positions British Hill as a key asset within our broader Forrestania gold strategy."
"With three RC drilling rigs on site and drilling continuing, we believe there remains significant opportunity to further expand the resource base and enhance project economics as we progress technical studies and evaluate future development pathways," he added.
The historical British Hill Project is situated approximately 75 kilometres south-southeast of Southern Cross, within Western Australia's Yilgarn mineral field. The Yilgarn Craton is one of Australia's most prolific gold-producing regions, hosting numerous world-class deposits and supporting a long history of active mining operations. Geologically, the lode is characterised by a corridor of quartz stockwork, frequently cored by more linear laminated quartz veins. The weathering profile varies along the deposit: the southern portion is relatively deeply weathered, where a component of supergene mineralisation is believed to exist, while weathering in the north is less pronounced.
Field operations have recommenced with three reverse circulation (RC) drilling rigs focused on resource development drilling along the down-dip direction. Additionally, Forrestania Resources has approved a further 100-hole drill program.
FRS shares were steady at 33.0 cents, with a market capitalisation of $524.4 million.