Forrestania Resources Surpasses One Million Ounce Gold Resource with MacPhersons Upgrade

MacPhersons Deposit Boosts Forrestania’s Gold Portfolio

Forrestania Resources (ASX:FRS) has delivered a significant update to its MacPhersons deposit within the Coolgardie Gold Hub, reporting a JORC-compliant Mineral Resource Estimate (MRE) of 2 million tonnes grading 1.15 g/t gold for 73,800 ounces at a 0.5 g/t cut-off. This addition propels the company’s global resource tally to 1,007,800 ounces, surpassing the coveted one million ounce milestone.

Chairman David Geraghty emphasised the strategic value of MacPhersons, noting it complements the existing Coolgardie portfolio and lies within an area with proven mining history. The deposit’s inclusion strengthens Forrestania’s position as an emerging Australian gold company, providing a robust foundation for future development and value creation.

Geological Setting and Mineralisation Controls

The MacPhersons deposit is hosted entirely within a tonalite intrusive unit sandwiched between ultramafic and basaltic contacts. Geological interpretation suggests that lateral fracturing, likely due to subtle anti-clockwise rotation of this brittle intrusive, created fracture networks that acted as conduits for gold mineralisation. This is supported by higher grades proximal to the ultramafic contact and analogous mineralisation at nearby Kneecap prospect.

Gold occurs predominantly within quartz veins associated with pyrite and pyrrhotite sulphides, with visible gold closely linked to quartz veining. Two main vein types are identified: thicker quartz veins with minor gangue minerals, and finer sulphide veining forming halos around gold-bearing quartz veins. These veins dip approximately 40 degrees to the northeast and southwest, consistent with local structural trends.

Resource Estimation and Classification

The resource estimate, independently verified by Golden Strike Pty Ltd, integrates dense reverse circulation and diamond drilling data, including historical and recent campaigns. The model uses ordinary kriging within Leapfrog Edge software, applying a parent block size of 5m x 5m x 2.5m and sub-blocking to 1.25m cubes, rotated 45 degrees east to align with orebody geometry.

Resource classification reflects drill spacing, geological continuity, and data quality: Measured resources (5,800 ounces) are based on closely spaced data within the mined area; Indicated resources (31,100 ounces) extend along strike and depth with moderate confidence; and Inferred resources (36,900 ounces) cover less densely drilled zones with lower confidence. The total MacPhersons resource thus balances geological certainty with exploration upside.

Integration into Forrestania’s Growing Gold Hub

MacPhersons forms part of Forrestania’s extensive Coolgardie Gold Hub, which now hosts a global resource of 25.7 million tonnes at 1.22 g/t gold for over one million ounces. This portfolio includes several deposits such as Ada Ann, British Hill, Johnson Range, and Tycho, each contributing to the company’s expanding footprint in Western Australia’s premier gold districts.

The company’s strategy of selective acquisitions and focused resource development has enabled rapid growth, with recent upgrades at Johnson Range and acquisitions at Karonie and Hyden further enhancing the resource base. Forrestania’s technical team continues to refine geological models and explore extensions, underpinning a pipeline of potential resource expansions.

Mining History and Metallurgical Context

The MacPhersons Reward project, operated by Beacon Minerals until early 2026, produced 28,604 ounces at 1.29 g/t gold, confirming the deposit’s economic viability. Historical processing data indicate a metallurgical recovery rate of approximately 97.5%, with the ore characterized as free milling and lacking significant sulphide content.

Beacon Minerals’ Juardi Processing Plant, which treated MacPhersons ore, experienced some operational challenges related to material hardness and gravity circuit design, but overall recovery performance aligned with expectations. These practical insights inform Forrestania’s assumptions for reasonable prospects of eventual economic extraction, based on a gold price of A$6,000 per ounce.

Technical Rigor and Forward Steps

The resource estimate adheres to the 2012 JORC Code, with competent persons Mr Lachlan Kenna and others providing oversight. Data integrity checks, top-cutting of anomalous grades, and geostatistical validation underpin the robustness of the model. Bulk density assignments reflect lithology and weathering profiles, enhancing tonnage accuracy.

Forrestania is considering further exploration to test lateral and depth extensions at MacPhersons and adjacent prospects, aiming to convert Inferred resources into higher confidence categories. The integration of geological, metallurgical, and mining data positions the company well to advance development studies and unlock value for shareholders.