FBM Starts 1,500m RC Drilling Targeting Forrest and Canyon Gold Prospects
Future Battery Minerals has kicked off a 1,500m reverse circulation drilling campaign at its Miriam Project in Western Australia, targeting promising gold prospects Forrest and Canyon. Results are expected by early September, with plans to advance Forrest to a Mineral Resource Estimate later this year.
- 1,500m RC drilling underway at Miriam targeting Forrest and Canyon gold prospects
- Drilling aims to confirm and extend historical gold lodes at Forrest
- Canyon prospect features a 1.75km structural target with strong soil gold anomalies
- First assay results expected early September 2025
- Company well-funded with A$7.4 million cash and zero debt
Drilling Commences at Miriam
Future Battery Minerals Ltd (ASX, FBM) has initiated a significant reverse circulation (RC) drilling program at its 100%-owned Miriam Project, located in the prolific Eastern Goldfields region of Western Australia. The 1,500-metre campaign focuses on two primary targets, the historically promising Forrest prospect and the newly defined Canyon prospect, situated approximately one kilometre south of Forrest.
The Forrest prospect, with a history of encouraging gold intercepts from the late 1990s, remains the centerpiece of this exploration push. Previous drilling revealed multiple flat-lying gold lodes extending over 600 metres, with notable intersections such as 12 metres at 2.09 grams per tonne (g/t) gold and 5 metres at 7.35 g/t gold. However, earlier data lacked detailed geological logging, a gap FBM aims to address with this program to refine its geological model and advance Forrest towards an initial Mineral Resource Estimate (MRE) by early Q4 2025.
Exploring the Canyon Prospect
Canyon represents an exciting new target, characterized by a 1.75-kilometre structural trend with geophysical signatures similar to Forrest. Recent soil sampling has identified elevated gold levels exceeding 20 parts per billion, with some samples reaching up to 1.25 grams per tonne. This coincident geochemical and structural anomaly has rapidly elevated Canyon to a high-priority target for FBM’s current drilling efforts.
Managing Director Nick Rathjen highlighted the significance of this milestone, noting the extensive preparatory work including desktop surveys, historical data review, and geophysical evaluation that underpins the drilling campaign. He emphasized the company’s commitment to expanding its pipeline of high-quality gold targets at Miriam throughout 2025.
Strategic Positioning and Funding
The Miriam Project sits within the Coolgardie Greenstone Belt, a well-established gold province hosting several nearby deposits such as Horizon Minerals’ Burbanks and Focus Minerals’ Tindals Mining Centre. Its proximity to existing mining infrastructure and transport routes enhances the project’s commercial appeal.
FBM enters this drilling phase with a robust financial position, boasting A$7.4 million in cash and zero debt as of March 2025. This financial strength provides a solid runway to execute the current drilling program and pursue further exploration activities across its portfolio.
Looking Ahead
The drilling program is scheduled for completion by the end of July, with assay results anticipated in early September. These results will be critical in validating the historical gold intersections at Forrest and assessing the potential of the Canyon prospect. Concurrently, FBM continues to evaluate other targets within the Miriam Project, aiming to expand its exploration footprint and resource base.
Bottom Line?
As FBM advances drilling at Miriam, the coming months will be pivotal in defining the project's gold potential and shaping its exploration trajectory.
Questions in the middle?
- Will the new drilling confirm and extend the historical gold lodes at Forrest as expected?
- How significant will the Canyon prospect prove compared to Forrest in terms of gold mineralisation?
- What are the implications of the upcoming Mineral Resource Estimate for FBM’s valuation and development plans?
