Ada Ann Drilling Yields 7m at 4.3g/t and 3m at 7.8g/t Gold in Latest Phase
Forrestania Resources reports impressive high-grade gold drilling results at Ada Ann and advances exploration with new tenement acquisition and board appointment.
- Ada Ann drilling confirms gold grades up to 26g/t
- Lady Lila drilling extends mineralisation; assay results pending
- New tenement E77/2853 acquired adjacent to Lady Lila
- Option exercised on Bonnie Vale and Breakaway Dam projects with revised terms
- Experienced mining executive David Geraghty joins board; $500,000 raised via strategic placement
Strong High-Grade Gold Results at Ada Ann
Forrestania Resources Limited has delivered a robust update for the quarter ending June 30, 2025, highlighting continued success in its gold exploration efforts in Western Australia's prolific Eastern Goldfields region. The Ada Ann prospect within the Bonnie Vale Project has yielded exceptional drilling results, with assays revealing gold grades reaching as high as 26 grams per tonne. These results stem from the company's phase 2 drilling program, which aimed to expand the mineralised footprint both laterally and at depth, confirming consistent high-grade mineralisation.
Lady Lila Project Progress and New Tenement Acquisition
Meanwhile, at the Lady Lila Gold Project near Forrestania, Forrestania Resources completed a reverse circulation drilling program designed to follow up on earlier promising results and extend mineralisation zones. Although assay results are still awaited, the project shows strong potential with an inferred resource of approximately 24,000 ounces of gold. Complementing this, the company secured a new tenement, E77/2853, adjacent to Lady Lila, which has seen little prior exploration but is considered highly prospective given its location within the Forrestania greenstone belt.
Strategic Option Exercise and Board Enhancement
In a strategic move, Forrestania Resources exercised its option agreement with Outback Minerals Pty Ltd over the Bonnie Vale and Breakaway Dam projects, covering a substantial 210 square kilometres of highly prospective ground. The revised terms include a deferred share consideration payment, easing immediate financial outlays. Additionally, the company strengthened its leadership team by appointing David Geraghty, a seasoned metallurgical engineer with over three decades of mining experience, to its board. Geraghty's expertise spans orebody evaluation and mineral processing, promising to enhance operational and strategic capabilities.
Capital Raising and Financial Position
Forrestania Resources also completed a strategic placement raising $500,000 at a premium to the prevailing share price, underscoring investor confidence. The company ended the quarter with $920,000 in cash reserves, having invested $293,000 in exploration activities. No substantive mining production occurred during the period, with the focus firmly on advancing exploration and resource definition.
Looking Ahead
The company plans to integrate forthcoming assay results from Lady Lila with existing data to update its JORC resource estimates. Follow-up drilling programs are anticipated to further delineate mineralisation across its key projects. With multiple regional targets still open and historic drill results yet to be fully tested, Forrestania Resources is positioned for continued exploration momentum in Western Australia's gold-rich terrains.
Bottom Line?
Forrestania Resources’ latest quarter sets the stage for resource upgrades and further drilling, with market eyes on assay results and exploration progress.
Questions in the middle?
- When will the assay results from the Lady Lila drilling program be released, and how might they impact resource estimates?
- What are the implications of the deferred payment terms in the Outback Minerals option exercise for Forrestania’s cash flow and project timelines?
- How will David Geraghty’s appointment influence Forrestania’s operational strategy and exploration efficiency moving forward?
