Ada Ann Prospect Delivers Strong Phase 2 Intercepts
Forrestania Resources Ltd, also known as FRS on the Australian Securities Exchange, confirmed further high-grade gold results at the Ada Ann Prospect during the June 2025 quarter. The Company completed phase two drilling, targeting expansion north, south, and at depth. Drilling covered 14 reverse circulation holes for 1,017 metres.
Results included standout intercepts such as 7 metres at 4.3g/t Au from 72 metres in AARC0029, which included 1 metre at 25.6g/t Au. Other strong intercepts included 3 metres at 7.8g/t Au from 74 metres in AARC0028 and 3 metres at 5.9g/t Au from 82 metres in AARC0024.
AA06 also reported 7 metres at 4.4g/t Au, including 1 metre at 26.1g/t Au. These results confirm consistent mineralised structures and strengthen confidence in Ada Ann’s high-grade gold potential.
Strategic Tenement Acquisition at Lady Lila
The Company is well advanced with its drilling in its Lady Lila Gold Project, very close to the historic gold mine of Bounty to the length of 15km. The prospect has already got an inferred mineral resource of 541,000 tonnes at 1.38g/t Au comprising 24,000oz.
Forrestania was undertaking reverse circulation program to extend previously recognised mineralisation. Pre-existing historic results have been reported as 8 metres at 7.2g/t Au from 24 metres in FLLRC006, 3 metres at 4.8g/t Au from 10 metres in LLRC002.
Importantly, LLRC009 inserted 4 metres grading 5g/t Au, 110 metres including 1 metre at 10.8g/t Au. There is mineralisation in every direction, making the project suitable for both open pit and underground mining.
New Tenement Strengthens Forrestania Position
Forrestania Resources (ASX:FRS) acquired tenement E77/2853, which lies adjacent to Lady Lila. The Company paid up to $10,000 in reimbursement for application costs and rents. WAMEX data suggests minimal prior exploration activity on this tenement.
This strategic addition increases the Company’s footprint within the Forrestania greenstone belt. The proximity to Lady Magdalene and Lady Ada projects, held by ASX-listed CLZ, enhances the area’s regional significance.
Bonnie Vale and Breakaway Dam Option Exercised
The Company exercised its option to acquire Bonnie Vale and Breakaway Dam from Outback Minerals Pty Ltd. The revised agreement defers the $1.1 million share consideration to May 2026 and includes an upfront $100,000 cash payment.
Bonnie Vale spans approximately 90km², including the high-grade Ada Ann prospect. Historic intercepts across the region include 2 metres at 9.4g/t Au from 37 metres (XRB109) and 3 metres at 2g/t Au from 77 metres (KSRC002).
Breakaway Dam Offers Copper and Lithium Potential
Breakaway Dam, located within the Alexandra Bore greenstone belt, holds copper and lithium targets. Historic drilling at BDRC10 returned 6 metres at 1.19% Cu and 11.07g/t Ag from 185 metres, including 1 metre at 3.86% Cu.
BD001 and BD002 delivered further anomalous copper values. A rock chip sample, FR000766, recorded 26.7% Cu, 15.4ppm Ag and 0.5ppm Au. DHEM survey data revealed conductive sulphide-bearing targets, still untested by drilling.
Corporate Update and Strategic Placement
On 16 May 2025, Forrestania announced David Geraghty as Non-Executive Director. Geraghty has more than 30-years experience in mining with experience in orebody assessment, processing and logistics. He had worked in high positions in Mineral Resources Ltd and started off in Rio Tinto.
The option package was performance based and was approved by the board: 20 million options at price $0.075, 10 million options at price $0.11, all having three years maturity.
Meanwhile, in the quarter that ended, Forrestania had raised non-brokered placement of 10 million shares at a price of 0.05 through a non-brokered placement that had raised it $500 000. Placement price was placed at a premium of 3 percent of 10 day VWAP or $0.048.
Also Read: Catalina Targets High-Grade Gold and Rare Earth Zones in WA Expansion Drive
Financial Summary and Shareholder Structure
As of 30 June 2025, the Company reported $920,000 in cash reserves. Quarterly payments included $293,000 for exploration, $44,000 for staff and director fees, and $90,000 in administration.
Total funding raised during the quarter exceeded $1.17 million. The Company had 310,522,428 ordinary shares on issue, held by 856 shareholders. The top 20 shareholders controlled 60.25% of the issued capital.
Ongoing Work and Outlook
Forrestania expects assay results from Lady Lila in the coming period. These will contribute to a revised JORC resource estimate and help shape future drilling programs.
Fieldwork continued across other tenements within the Forrestania, Southern Cross, and Eastern Goldfields regions. The Company remains focused on advancing exploration across its ~1,000km² landholding in Western Australia.
