Forrestania Resources has completed its acquisition of the Hyden gold project, consolidating its gold tenement portfolio within its Forrestania hub in Western Australia.
The company has taken 100 per cent ownership of Hyden Project Holdings Pty Ltd, including the Lady Magdalene and Lady Ada project.
The Hyden gold project contains a JORC-compliant mineral resource of 6.95 million tonnes at 1.33 grams per tonne (g/t) of gold for 297,500 ounces of gold. This includes two key deposits at Lady Magdalene which contributed 5.6 million tonnes at 1.32 g/t Au and Lady Ada with 1.35 million tonnes at 1.39 g/t Au.
Lady Ada has a proven history of high-grade production, having yielded over 27,000 ounces at an impressive 8.81 g/t Au during a brief mining campaign in the early 2000s.
Forrestania Resources Chairman, David Geraghty, described the completion as a pivotal step in the company’s growth.
“Completion of the Hyden Project acquisition further consolidates Forrestania’s position within the Forrestania hub,” Geraghty said.
“It positions Forrestania to continue advancing its portfolio of Western Australian gold assets as the company progresses development activities and advances toward future production through the Lake Johnston processing facility.”
The acquisition pushes Forrestania’s global mineral resource estimate (MRE) to over 23 million tonnes, containing 907,000 ounces of gold.
Located at the northern end of the prospective Forrestania greenstone belt, the project area remains highly prospective with clear exploration upside.
With all conditions satisfied, the company is now focused on integrating these assets into its development pipeline.
By consolidating these tenements, Forrestania is banking on the hub and spoke model, aiming to feed ore from the newly acquired deposits into a centralised processing infrastructure to drive cost-efficiencies and long-term shareholder value.