Forrestania Resources Ltd is primed to start drilling this week at Ada Ann prospect of the Bonnie Vale Gold Project near Coolgardie in Western Australia’s prolific Eastern Goldfields.
A Topdrill reverse circulation (RC) drill rig has been secured and is expected to arrive on-site on Wednesday, October 23, with the program to include 21 holes for about 1,600 metres.
Ada Ann is in proximity to Evolution Mining’s (ASX:EVN) 5-million-ounce Mungari Gold Mine.
First target area
“This is the first of several drill programs planned for the Bonnie Vale Project with the high-grade Ada Ann prospect the first target area,” Forrestania Resources’ chairman John Hannaford said.
The drilling aims to test the extent of high-grade gold mineralisation at depth and along strike at Ada Ann prospect within exploration licence E15/1632.
It will test extensions north and south of known mineralisation as well as at depth and will also assess the potential for an additional zone of mineralisation around an area of historic drill spoils that returned strong results, including 49 g/t gold.
The Bonnie Vale Project is in proximity to major gold mines and deposits. The map includes simplified geological interpretation with government magnetics. Evolution Mining's Mungari is about 5 kilometres east of the Bonnie Vale Project.
Significant, shallow gram/metre intersections have been returned from historical drilling at Ada Ann, with mineralisation open in all directions.
Partial payment in equity
Drilling contractor Topdrill has reflected its confidence in the company’s gold targets by agreeing to take partial payment in equity for drilling costs.
"We are pleased to have secured an RC rig from Topdrill, which has continued to support our exploration programs and have agreed to receive shares as part payment for this campaign,” Hannaford said.
"We are drill testing several known areas of mineralisation and looking to extend the prospect significantly, as it is open in all directions.”