Forrestania Resources boosts Johnson Range gold resource by 26%

Significant Resource Upgrade at Johnson Range

Forrestania Resources (ASX:FRS) has announced a material upgrade to its Johnson Range gold deposit, with a new JORC-compliant Mineral Resource Estimate (MRE) of 2.04 million tonnes grading 1.99 g/t Au for 130,730 ounces of gold. This marks a 26% increase in contained gold ounces compared to the previous resource, a notable step in the company’s ambition to scale its Mt Dimer Hub portfolio.

The updated resource includes a previously mined stockpile of 67,700 tonnes at 0.99 g/t Au, adding 2,150 ounces to the total. The MRE was independently prepared by Widenbar and Associates, a Perth-based consultancy, and incorporates results from a recent 48-hole reverse circulation drill program totaling 4,344 metres, which helped confirm high-grade mineralisation and refine geological understanding.

Geological Setting and Mineralisation Types

Johnson Range lies within the northern Marda-Diemals greenstone belt, part of the Southern Cross Domain in Western Australia’s Yilgarn Craton. The deposit’s mineralisation is hosted primarily in quartz veins and breccias within mafic/ultramafic and banded iron formations, dipping shallowly northwest. Three mineralisation styles are identified: surficial lateritic, supergene, and hydrothermal, with gold grades ranging from enrichment in weathered zones to structurally controlled quartz-carbonate vein systems.

The deposit extends approximately 750 metres along strike, 290 metres down dip, and reaches depths of 150 metres below surface, with lode thicknesses varying between 2 and 10 metres. These dimensions provide a substantial footprint for open pit mining, which is the assumed extraction method underpinning the resource’s economic evaluation.

Resource Classification and Estimation Methodology

The resource is classified into Indicated and Inferred categories, with 350,920 tonnes at 2.91 g/t Au (32,820 ounces) in the Indicated category and 1,622,580 tonnes at 1.84 g/t Au (95,760 ounces) inferred. The classification reflects geological continuity, drill spacing, and data quality, with indicated zones supported by drill spacing of 25 by 25 metres or less.

Ordinary Kriging interpolation was employed using Micromine software, with a 0.5 g/t Au cut-off grade for reporting. The block model was validated against drill data, confirming a good correlation between predicted and observed grades. Bulk densities were adopted from previous studies, ranging from 2.00 t/m3 for laterite to 3.00 t/m3 for fresh rock.

Economic Parameters and Next Steps

Reasonable prospects for eventual economic extraction have been demonstrated through pit optimisation studies assuming a gold price of AUD 6,000 per ounce, mining costs of AUD 10 per bank cubic metre, and processing costs of AUD 50 per tonne. Metallurgical test work at Nagrom Laboratories yielded an average recovery of 93.5%, supporting the viability of the deposit.

Forrestania plans further down-dip resource extension drilling and diamond drilling to support metallurgical test work. The company also holds an approved 100-hole drill program providing broader exploration upside across the deposit. Conceptual mining studies are in the pipeline to advance project evaluation.

The resource upgrade follows a series of promising drilling results at Johnson Range and other projects, including high-grade intercepts reported recently across Forrestania’s portfolio. This momentum is part of a broader strategy to consolidate and grow gold resources in Western Australia’s premier mining districts, leveraging regional infrastructure and processing options.

Forrestania’s recent acquisition of the Hyden Gold Project added nearly 300,000 ounces to its resource base, complementing the Johnson Range upgrade and reinforcing its position in the Southern Cross district. The company’s methodical exploration and selective acquisitions continue to build a diversified pipeline of development opportunities.

While the Competent Person has yet to conduct a site visit, planned for later in May 2026, the resource estimate is based on comprehensive drilling data and industry-standard practices. Environmental considerations and permitting remain to be addressed as the project advances.