Forrestania Resources has rung the till with a maiden inferred mineral resource of 58,700 ounces of gold at its Burracoppin project near Merredin in WA.
The small but shallow resource is strategically positioned within spitting distance of Ramelius Resources’ 2.8 million tonne per annum Edna May mill, which is currently on care and maintenance.
The company says it’s managed to scoop the gold resource, which grades 0.91 grams per tonne (g/t), at an exceptionally low acquisition cost of just $14 per ounce, as it continues to opportunistically mop up numerous other junior gold resources throughout the Yilgarn.
The Burracoppin project now wraps around Ramelius Resources’ Edna May gold mine and its processing infrastructure, putting Forrestania in a prime position to tap into established milling options. The strategic footprint could shape as a logical next development target for the $650 million-capped company as it pushes towards production across its expanding Southern Cross gold ground.
The Burracoppin project forms a core part of Forrestania’s Westonia hub and spoke strategy, where the company is looking to consolidate assets in a region peppered with gold occurrences and established infrastructure.
Sitting 20km east of the wheatbelt town of Merredin, the project straddles the Great Eastern Highway, providing excellent access for exploration crews in the mining-friendly region.
The geology at Burracoppin is classic Archean lode-style gold, with mineralisation occurring in narrow, steeply dipping, north-south-striking veins.
The ground has a long history of high-grade gold production from numerous prospecting pits and shallow shafts dating back to the 1930’s, when the old timers rarely got out of bed for anything less than one-ounce dirt.
The new resource was constructed using a database of 155 reverse circulation (RC) holes for almost 11,500m, including historical work and more recent drilling by Askari Metals in 2021-22.
Historical drilling yielded some cracking intersections, including a 3-metre hit grading a hefty 17.41g/t gold from 73m at the Easter Gift prospect.
With an approved program of work already in hand, Forrestania is not resting on its laurels. The company is now planning further drilling to test for extensions to the mineralisation along strike and at depth.
A diamond drilling campaign is also on the cards to provide core for metallurgical test work, which will be a central piece of the puzzle in assessing the project’s economic viability.
The delivery of this Mineral Resource Estimate at Burracoppin marks an important milestone for the Company. It’s a clear demonstration of our capacity to identify and secure prospective ground, as well as of FRS’s technical ability to independently assess projects that can add material value to our growing gold production and development business. This JORC Resource strengthens our confidence in the potential of Burracoppin and in the other assets we have advanced in the neighbouring regions.
The company has expanded rapidly in the past 2 years, with its namesake Forrestania project 120km south of Southern Cross, embedded in a highly prospective Southern Cross greenstone belt. It sits immediately adjacent to the historic Bounty gold mine, a former powerhouse that produced over one million ounces of gold during its peak production years.
To the north, Forrestania sits along the gold-endowed corridors of Coolgardie and Menzies, further strengthening its geological setting.
Its Eastern Goldfields portfolio adds yet another layer of exposure to proven, mineral-rich belts, offering a pipeline of well-trodden ground with strong exploration upside.
The company is currently trucking gold to its recently acquired and soon-to-be-refurbished Lake Johnston processing facility near Forrestania, where it hopes to fill its boots with gold and return the plant to a robust 3.2- million-tonnes-per-annum target.
With a maiden resource now on the books at Burracoppin and an attractive acquisition cost, the company could potentially eye further expansion across its Southern Cross footprint. In the near term, however, the focus remains firmly on upcoming drilling to grow and upgrade the resource.
Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au
Get the latest news from thewest.com.au in your inbox.
Sign up for our emails