The Forrestania Resources Ltd (ASX: FRS) share price is in focus today after the company announced a major 131% uplift in its British Hill gold resource, reaching an updated Mineral Resource Estimate (MRE) of 126,290 ounces.
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What did Forrestania Resources report?
- Upgraded JORC Mineral Resource Estimate for British Hill: 2,620,900 tonnes at 1.50 g/t gold for 126,290 ounces (0.5g/t cut-off), a 131% increase from the previous MRE.
- Significant jump in Indicated category: 1,878,500 tonnes at 1.43 g/t for 86,080 ounces, representing a 180% uplift.
- Recent drilling: 19 new holes (4,764m), including 693m diamond tails, supported the resource update.
- Another 100-hole drilling program approved and underway, with three RC rigs focused on resource extension.
- Planning underway for mining studies and metallurgical test work to inform future development.
What else do investors need to know?
The British Hill resource upgrade is part of Forrestania Resources' broader plan to scale its presence in Western Australia. The company's Forrestania Hub benefits from strong regional infrastructure and proximity to historic gold fields, supporting future development options for British Hill.
With three drilling rigs currently operating, Forrestania aims to further expand and derisk the resource base. The company says its additional 100-hole drill program has been approved and is now targeting new areas with the potential to grow the resource both along strike and down-dip.
What did Forrestania Resources management say?
Chairman David Geraghty said:
Forrestania's British Hill continues to expand, with a more than doubling of the previous Mineral Resource Estimate and a material increase in the proportion of higher-confidence Indicated Resources. The combination of resource growth, ongoing drilling success and excellent regional infrastructure positions British Hill as a key asset within our broader Forrestania gold strategy.
With three RC drilling rigs on site and drilling continuing, we believe there remains significant opportunity to further expand the resource base and enhance project economics as we progress technical studies and evaluate future development pathways.
What's next for Forrestania Resources?
Looking forward, Forrestania Resources plans to accelerate further resource drilling at British Hill, with the goal of converting additional Inferred ounces to Indicated status and unlocking further growth. The company is progressing mine studies and metallurgical work as it explores development pathways, including possible processing options within its Western Australian hub.
Management intends to keep strengthening its resource inventory across key locations, aiming to support long-term production and create shareholder value through technical excellence and disciplined capital use.
Forrestania Resources share price snapshot
Over the past 12 months, Forrestania Resources shares have risen 57%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.
