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FRS - Forrestania Resources

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Forrestania Resources Limited is an Australian mineral exploration and development company incorporated on 12 February 2021 with a focus on gold and other precious metals discoveries in Western Australia.

The Company has entered into various agreements to acquire an interest in projects, specifically the Forrestania Gold, Lithium and Nickel Project, the Southern Cross Gold Project and the Leonora Gold Project. All of the Company's projects are located in Western Australia.

Forrestania Gold, Lithium & Nickel Project
The Forrestania Project, located approximately 80km east of Hyden, Western Australia, comprises one (1) Mining Licence, two (2) Prospecting Licences, 11 Exploration Licences and two (2) Exploration Licence Applications covering an area of approximately 623km2. Prior exploration over the project area has focussed on gold and nickel, largely in the form of mapping, soil sampling, drilling and geophysical surveys. A Mineral Resource estimate of ~24,000 oz of gold has been reported in accordance with the JORC Code at Lady Lila within the Forrestania Project area.

Southern Cross Gold Project
The Southern Cross Project comprises seven (7) tenements: one (1) Mining Lease, one (1) Exploration Licence, three (3) Exploration Licence Applications and two (2) Prospecting Licences, covering approximately 144km2 (~32km2 granted). The tenements are disconnected and scattered over a 40km length of the greenstone belt although all tenements are within a 30km radius of the town of Southern Cross, Western Australia.

Leonora Gold Project
The Leonora Project tenements are located within the Norseman-Wiluna Greenstone Belt of the Yilgarn Craton. The Project includes one (1) Exploration Licence and five (5) Exploration Licence Applications, covering a total of 853km2. The tenements are predominately non-contiguous and scattered over a 200km length of the greenstone belt. The southernmost tenement is approximately 15km southeast of the town of Menzies, and the northern most tenement is located approximately 70km northeast of Leonora. Prior exploration over the Project area has focused on gold, diamonds and uranium. Tenements in the Project have been variably subjected to soil sampling, stream sampling, drilling, mapping, rock chip sampling and geophysical surveys.

It is anticipated that FRS will list on the ASX during September 2021.

 

Dona Ferentes

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Listing date23 September 2021 1:00PM AEST ##
Company contact detailshttps://forrestaniaresources.com.au/
+61 8 6245 9890
Principal ActivitiesAustralian mineral exploration and development
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeFRS
Capital to be Raised$5,000,000
Expected offer close date10 September 2021
UnderwriterNot underwritten. CPS Capital Group Pty Ltd (Lead Manager)
 
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