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An update from Forrestania Resources Limited ( (AU:FRS) ) is now available.
Forrestania Resources has delivered an upgraded JORC-compliant Mineral Resource Estimate for its Ada Ann gold deposit at the Coolgardie Hub, now standing at 204,500 tonnes at 2.76 grams per tonne gold for 18,160 ounces, a 46% increase on the prior estimate. The update includes a maiden Indicated resource of 9,780 ounces, underpinned by recent drilling, and is expected to support the company’s strategy of building a growth profile in the region.
The Ada Ann upgrade, located within a newly applied mining lease near Coolgardie, follows a 12‑hole step‑out drilling program targeting down‑dip and along‑strike extensions of the orebody. Forrestania plans further resource extension drilling, metallurgical test work, and environmental and conceptual mining studies, signalling progression toward potential future mining and enhanced optionality for stakeholders around the Coolgardie Hub.
The most recent analyst rating on (AU:FRS) stock is a Buy with a A$1.25 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
More about Forrestania Resources Limited
Forrestania Resources Limited is an Australian exploration company focused on gold projects in Western Australia’s Eastern Goldfields. The company is advancing its Coolgardie Hub, aiming to build scale by consolidating resources in a region with established mining and processing infrastructure, which could support future development options.
Average Trading Volume: 4,094,874
Technical Sentiment Signal: Buy
Current Market Cap: A$640.8M
Learn more about FRS stock on TipRanks’ Stock Analysis page.