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Bonnie Vale Forrestania Breakaway Dam
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Exploring for Gold, Copper and Lithium in Western Australia

Exploration Potential

  • Lady Ava & Lady Magdalene (Hyden Option):
    15,000 drilling program POW lodged and drilling ready to commence after approval

  • British Hill: drilling expansion

  • Lady Lila: future drilling as part of the 15,000 Forrestania hub program will focus on extending mineralisation

Strategic Value

  • District-scale hub with pathway to significant growth of current JORC resource base

  • 92% of ounces already on granted MLs

JORC Resource Base

Lady Lila: 40,513oz

Lady Ada + Lady Magdalene (Hyden Option): 297,000oz

North Ironcap: 105,953oz

British Hill: 54,625oz

Total Forrestania Hub:
˜482koz Au

Lady Lila
Gold Prospect

Inferred Resource
1,200Kt @ 1.03g/t Au for 40,513 ounces

Lady Lila has significant strike length of mineralisation ~2km, with ~700m ineffectively tested. Potentially 2km of Au mineralisation with Forrestania tenement to the south. Significant geological analogies with nearby, historic Bounty Gold Mine which produced ~1Moz Au.

Forrestania’s maiden drilling program returned:

  • 13m @ 2.0g/t Au (from 91m)

  • 4m @ 5.0g/t Au (from 110m)

Significant, supergene Au mineralisation close to surface:

  • 9m @ 1.5g/t Au (from 11m)

  • 6m @ 9.5g/t Au (from 21m)

Historic drilling programs returned mineralisation at depth, including:

  • 14m @ 3.6g/t Au (from 71m)

  • 15m @ 2.1g/t Au (from 74m)

BRITISH HILL
Gold Prospect

Total Inferred & Indicated Resource
1,025Kt @ 1.66g/t Au for 54,625 ounces

An advanced open pit gold project situated on an approved mining lease with adjacent exploration and misc. leases.

British Hill represents a near term production activity for Forrestania, with several pre-production baseline surveys and approvals already in place.

HYDEN PROJECT HOLDINGS
Lady Ada & Lady Magdalene
GOLD PROJECT

Total Hyden Gold Project Resource
6,950Kt @ 1.3g/t Au for 297k ounces

Two advanced open pit gold projects situated on a mining lease, with extensive exploration potential across all tenements.
 
As cornerstone assets of the Forrestania portfolio, Lady Ada and Lady Magdalene represent the largest current resource base. Their scale and location position them as central to any future production strategy.

Planned drilling under the 15,000m Forrestania hub program will focus on upgrading and expanding the existing resource.

NORTH IRONCAP
GOLD PROJECT

Inferred Resource
2,412,527t @ 1.37g/t Au for 105,953 ounces

An advanced stage gold exploration asset located south of Southern Cross within the Forrestania Greenbelt.

The project hosts a significant trend of gold mineralisation in its southern area, where extensive drilling, metallurgical test work, and pit design studies were undertaken during the late 1990s.

Gold
Prospects

Multiple, advanced gold targets:

  • Prince – significant Au rock chips including: 28.2g/t Au, 6.1g/t Au, 5.6g/t Au. In close proximity to multiple high-grade historic workings, with historic production up to 19.8g/t Au (see image below).

  • Great Southern – historic production at up to 23.1g/t Au, within a high-grade, historic mining centre (see image below). Never effectively drill tested with multiple targets.

  • Rabbit Hole – historic Au drilling of 5m @ 4.4g/t Au from surface, never followed up. With strong Au pathfinder geochemistry along a BIF contact.

  • Crossroads – DGPR confirmed faulted structures coincident with Au mineralisation, historic results include: 3m @ 5g/t Au.

  • Gemcutter North-East – strong, walk up regional Au target with anomalous Au (and Li) within 8km of the historic Bounty gold mine and the Mount Holland lithium mine.

Lithium
Prospects

The Forrestania Project has multiple, advanced lithium targets:

  • Tenure adjacent to IGO’s South Ironcap Prospect (recent IGO drilling intersect ~35m @ 1.38% Li2O).

  • Forrestania’s South Iron Cap East:

    • Shallow spodumene intersected

    • Results included 2m @ 0.95% Li2O

  • Forrestania’s Gemcutter and Giant:

    • 10m @ 1.5% Li2O from 74m

  • Gemcutter North-East – strongly anomalous lithium geochemistry ~5km from Covalent Lithium (Wesfarmers-SQM JV) Mt Holland lithium mine.

A recent, potentially significant lithium “discovery” has been made by IGO ~700m west of our ‘South Iron Cap East’ Prospect.

Up to 31 May 2024, IGO had completed 78 holes - ~10,700m of RC and ~8,800m of DD at its South Iron Cap prospect.

Exploration by IGO has extended the mineralised footprint approximately 2km along strike and up to 800m wide. IGO believes there are opportunities to extend the mineralised footprint with additional drilling.