Forrestania Resources increases gold resource to 126,290 ounces
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- Forrestania Resources updated its British Hill deposit resource estimate to 126,290 gold ounces.
- The company's shares rose following the announcement of a 131% mineral resource increase.
- Management plans conceptual mining studies and further exploration drilling to expand the deposit.
Forrestania Resources (ASX:FRS) upgraded its British Hill deposit resource estimate by 131% to 126,290 gold ounces.
The revised figure includes 86,080 ounces in the indicated category, representing a 180% increase over prior estimates.
"British Hill continues to expand, with a doubling of the previous mineral resource estimate," said Forrestania Resources Chairman David Geraghty.
Recent drilling of 4,764m across 19 holes supported the update, with a 100-hole expansion programme now approved.
Following the announcement, the Forrestania Resources share price was up at $0.36.
The deposit forms part of the company's broader Forrestania Hub gold exploration strategy in Western Australia.
Forrestania Resources plans to conduct metallurgical test work and conceptual mining studies to assess future development pathways.
