Forrestania Resources Global Mineral Resource Estimate Exceeds 2 Million Gold Ounces After Edna May Acquisition; Shares Down 3%

MT Newswires Live

09/07

Forrestania Resources (ASX:FRS) said its global mineral resource estimate stands at 58.6 million tonnes at 1.1 grams per tonne grade of gold for about 2.1 million ounces of the precious metal, according to a Monday filing with the Australian bourse.

The latest estimate follows the Sept. 4 completion of the company's Edna May gold project acquisition.

The mineral resource estimate for Edna May is 30.7 million tonnes at 1 g/t gold for 945,000 ounces of gold at a 0.5 g/t cut-off, Forrestania said.

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

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