63m Pegmatite Intersected In Successful Maiden Calypso Drilling

Forrestania Resources Limited (ASX:FRS) (Forrestania or the Company) is pleased to announce that it has completed its maiden drilling programme at the Calypso target where multiple thick (up to ~63m) pegmatites have been intercepted. The company drilled 14 RC holes at the prospect for 1,968m to define the extents of and investigate whether pegmatites identified from mapping and historic drilling2 host lithium mineralisation. Calypso is located at the company’s flagship Forrestania project, in WA’s southern Yilgarn region (Figure 1).

Highlights

• Multiple stacked pegmatites intersected in 13 of 14 holes at Calypso Prospect, up to 63m thick.
• Calypso believed to be a prospective host for LCT pegmatites, based on anomalous soil geochemistry, outcropping pegmatites and pegmatite intercepts in historic drilling.1
• 14 RC drill holes completed at the Calypso prospect for a total of 1,968m.
• A total of 65 pegmatite intervals were logged across the 13 drill holes for a cumulative total of 456 metres of logged pegmatite.
• Full suite of assays expected in ~6 weeks.
• Drilling ongoing at South Iron Cap East Prospect.

“It’s fantastic to confirm that there are further pegmatites of significant thickness within Forrestania tenure. Calypso is only ~4.5km from a known mineralised pegmatite (South Ironcap3), so any occurrence of pegmatite within this area is significant to Forrestania. Geological and geochemical information gathered from this drilling programme will assist with vectoring towards further prospective zones within and surrounding the extensive Calypso pegmatite bodies”.

Figure 1: Map showing location of Calypso target relative to South Ironcap (IGO) & South Iron Cap East (FRS)

Figure 2: Simplified cross section showing pegmatite intercepts in FCAR0005 (63m of pegmatite from surface)and FCAR0013

Figure 3: Simplified cross section showing pegmatite intercepts in drill holes FCAR0001 – FCAR0004 and FCAR0014

Figure 4: Plan view of Calypso drilling area showing drilled holes and position of cross-sectional views.

Discussion

The maiden drilling programme at Calypso was designed to define and expand the extents of pegmatites identified from mapping and historic drilling and to investigate their potential to host lithium mineralisation. In total, 1,968m were drilled across 14 holes. The drilling area encompassed areas of mapped pegmatite, geochemical anomalism and historic pegmatite drill intercepts1 & 2.

Pegmatite was intercepted in 13 of 14 holes, with multiple zones of significant widths (up to 63m – Figure 2 & Figure 5). Forrestania has interpreted that the orientation of the pegmatites is flat lying and sub-parallel. This, however, has not been fully ascertained due to the broad drill spacing. Thicknesses mentioned do not necessarily reflect true width.

Drill hole samples will be dispatched to Perth this week and a full suite of assays is expected in ~6 weeks.

Drilling is ongoing at South Iron Cap East and the Giant pegmatite. The company will provide further updates in due course.

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