Forrestania Unveils Maiden 12,419 Ounce Gold Resource at Ada Ann
Forrestania Resources has reported its first JORC-compliant inferred mineral resource at the Ada Ann gold deposit, marking a key milestone in its Bonnie Vale project near Kalgoorlie. The near-surface deposit offers promising economics with a low discovery cost and plans for expansion underway.
- Maiden inferred resource of 231,600 tonnes at 1.67 g/t Au
- Total contained gold estimated at 12,419 ounces
- Discovery cost approximately $33 per ounce
- Near-surface mineralisation favorable for low-cost open pit mining
- Further drilling planned to expand and upgrade resource
A New Chapter for Forrestania Resources
Forrestania Resources Limited (ASX, FRS) has announced a significant development with the maiden JORC-compliant inferred mineral resource estimate for its Ada Ann gold deposit, part of the Bonnie Vale project located near Kalgoorlie in Western Australia. This inaugural resource quantifies the deposit at 231,600 tonnes grading 1.67 grams per tonne gold, equating to approximately 12,419 ounces of contained gold.
Strategic Location and Geological Context
The Ada Ann prospect lies 18 kilometres north of Coolgardie within the Eastern Goldfields, a region renowned for its rich gold endowment. The deposit is hosted within an ultramafic and shear zone in basaltic rocks, with mineralisation occurring near surface and dipping gently east. This geological setting, combined with the proximity to major mines such as the Mungari operation, positions Ada Ann as a potentially attractive asset for development.
Economic Implications and Discovery Efficiency
One of the standout features of this resource is the discovery cost, estimated at just $33 per ounce of gold. The near-surface nature of the mineralisation suggests that open pit mining could be economically viable, potentially offering low production costs. Forrestania’s Chairman, David Geraghty, highlighted the milestone as a testament to the company’s disciplined exploration approach and expressed confidence in the deposit’s potential and the broader project pipeline.
Technical Rigor and Future Exploration
The resource estimate was derived from a comprehensive drilling database comprising 139 holes and over 6,700 metres of drilling, employing inverse distance cubed interpolation without grade capping. While all resources are currently classified as inferred due to limited metallurgical data and some data gaps at the deposit margins, Forrestania plans further drilling to expand the resource and upgrade its classification. Metallurgical testwork is also scheduled to better understand processing characteristics and support future economic assessments.
Looking Ahead
With the maiden resource now established, Forrestania Resources is poised to advance Ada Ann towards development. The company’s ongoing exploration and development programs aim to increase the resource base and refine the project’s economic parameters. Given the deposit’s location and characteristics, Ada Ann could become a cornerstone asset for Forrestania’s ambition to become a high-margin gold producer in the near term.
Bottom Line?
Ada Ann’s maiden resource lays a solid foundation, but upcoming drilling and metallurgical results will be critical to unlocking its full potential.
Questions in the middle?
- How will upcoming metallurgical testwork impact resource confidence and processing plans?
- What are the timelines and targets for upgrading the resource from inferred to indicated or measured?
- How does Ada Ann fit into Forrestania’s broader production and growth strategy in the Eastern Goldfields?
