Forrestania Resources Confirms High-Grade Niobium Mineralization in Maiden Drilling at Malawi Project, Shares Up 3%

MT Newswires Live

03/30

Forrestania Resources (ASX:FRS) said maiden drilling at its Wozi Niobium Project in Malawi has confirmed high-grade, near-surface niobium mineralization within a large, previously defined mineralized system, according to a Monday Australian bourse filing.

The results were up to 13 meters at 1.69% niobium pentoxide from 16 meters, including one meter at 2.56% niobium pentoxide from 19 meters and three meters at 3.78% niobium pentoxide from 25 meters.

The company said drilling confirms mineralization associated with a potential 1.5-kilometer length and up to 400-meter-wide niobium soil anomaly, with mineralization remaining open along strike and at depth, consistent with a coherent and laterally extensive system.

Follow-up drilling and technical studies are underway to advance the project, the filing added.

The company's shares rose 3% in recent Monday trade.

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