Lithium

Forrestania wins lithium drilling approvals

Mon 13 Jun 22, 3:27pm (AEST)
lithium element symbol surrounded by batteries
Source: iStock

Stocks in article

frs
MktCap:
-
wsa
MktCap:
-

Commodities in article

Share article

Key Points

  • Forrestania has won a key approval from the WA government to commence maiden lithium drilling
  • The South Iron Cap East lithium prospect will be drilled before September 2022
  • Company now has full approvals for the Iron Cap lithium prospect, and the Black Prince gold prospect

Forrestania Resources (ASX:FRS) has won a Program of Work (POW) approval from the WA government to commence lithium drilling at its Forrestania Project in southern WA. 

Initial drilling will commence at site in the near future targeting the South Iron Cap East prospect. 

South Iron Cap East sits 1km away from where Western Areas Limited (ASX:WSA) previously intersected a drill core of 50.6m @ 0.95% lithium per tonne. 

The Forrestania Project is prospective for both lithium and gold. 

(Source: Forrestania) A map locating the company's prospect in permit area E77/2346
(Source: Forrestania) A map locating the company's prospect in permit area E77/2346

Background exploration ongoing 

While Forrestania prepares to start drilling at South Iron Cap East, the company’s geologists continue to carry out soil sampling at nearby prospects. 

The company notes evidence of gold and lithium mineralisation has been found, but nickel prospectivity is not yet determined. 

The POW approval greenlights a drilling campaign searching exclusively for lithium. 

Field crews are also re-analysing historical drill holes. 

Low impact of weathering at Iron Cap

The experts believe the lithium deposits at South Iron Cap East have been exposed to less weathering, which the company says is evident at its Earl Grey lithium target some 6km away. 

The Gem Cutter prospect also presents evidence of enhanced lithium depletion. 

Iron Cap, however, is thought to boast tantalum, caesium, rubidium and beryllium, all elements with a higher resistance to weather profiles.

Floral diversity strategy en-route

Forrestania notes the presence of high floral diversity on-site leaves the company negotiating with the WA mining regulator to simplify further approvals applications. 

Forrestania is engaging with an environmental consultancy to assist. 

Heritage surveys are also locked in for Black Prince; the requirement for further heritage surveys at other prospects is being assessed. 

Black Prince and Iron Cap up first 

Fully approved, the company’s maiden drill program will target Iron Cap for lithium and Black Prince for gold. 

Drilling at Iron Cap is set to commence between now and September 2022. No date is given for Black Prince. 

Forrestania continues to progress its follow-up environmental survey for its Lady Lila gold target. 

Forrestania's three month charts against the materials index; FRS was up 14% at close on Friday
Forrestania's three month charts against the materials index; FRS was up 14% at close on Friday

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

Get the latest news and media direct to your inbox

Sign up FREE