Forrestania Resources highlights $1.53 million rights offer
October 26, 2023 at 04:56 pm EDT
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Forrestania Resources Ltd (ASX:FRS) MD Michael Anderson tells Proactive the company is embarking on a strategic initiative to turbo-charge its portfolio of lithium, copper and gold projects in WA. The company has announced a renounceable entitlement offer, offering shareholders the opportunity to participate in the development of these promising ventures. This cap raise of up to $1.53 million will position the company to capitalise on its exploration efforts and harness the potential of the state’s rich mineral resources.
Anderson said: “The team has continued our systematic exploration of the Forrestania Project delivering a number of positive outcomes including drilling ore grade lithium mineralisation and visible spodumene at both the Giant and South Iron Cap East projects and locating stacked pegmatite systems at Calypso in proximity to known mineralisation.
“Given we are on the doorstep of the world-class Mt Holland lithium deposit, and significant gold and nickel mines, we remain confident that we are doing the right things in the right areas, and there is plenty more still to do as we aim to unlock the discovery potential in this highly prospective belt.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Forrestania Resources Limited is an Australia-based exploration company. The Company is engaged in searching for lithium, gold and nickel in the Forrestania, Southern Cross and the Leonora/Eastern Goldfields regions of Western Australia. The Companyâs projects include Forrestania, Southern Cross and Leonora. The project is situated in the southern Forrestania Greenstone Belt, with a tenement footprint spanning approximately 100 kilometers (km), the emerging Kat Gap gold deposit, the operating Flying Fox, and Spotted Quoll nickel mines, and other discovered Mt Holland lithium projects. The Southern Cross Project is comprised of 5 tenements: one exploration license, three exploration license applications, two prospecting licenses and one mining license, covering approximately 144.28 square kilometers (km2). The Leonora Project includes one exploration license and 5 exploration license applications, covering a total of approximately 853.5 km2.
FORRESTANIA RESOURCES LIMITED 
