Forrestania Resources Limited (ASX: FRS), an Australian gold developer targeting Edna May production by December 2026, today announced an updated JORC Mineral Resource Estimate (MRE) for its Symes Find Deposit. Effective 28 October 2026, the MRE now totals 0.8 million tonnes (Mt) at 1.00 grams per tonne (g/t) gold for 25,800 ounces, based on a 0.5g/t gold cut-off grade. This update follows Forrestania Resources’ acquisition of the Symes Find Project from Ramelius Resources in September 2026.
This revised estimate provides a current view of the gold inventory, accounting for prior mining activities. At the start of mining in 2023, Ramelius Resources Limited reported an MRE for Symes Find of 1.4Mt at 1.7g/t gold for 75,000 ounces (0.6g/t gold cut-off). Ramelius subsequently mined approximately 0.5Mt at 2.41g/t gold, recovering around 42,000 ounces from the Symes open pits in 2024, with ore trucked 121 kilometres to the Edna May processing plant. Forrestania Resources’ Chairman, David Geraghty, commented that Symes Find exemplifies the company’s strategy of acquiring advanced gold assets, confirming a meaningful remaining inventory for future production opportunities.
The updated MRE distributes the gold inventory across confidence categories: Measured material totals 220,000 tonnes at 0.83g/t gold for 5,800 ounces; Indicated material comprises 406,900 tonnes at 1.07g/t gold for 13,900 ounces; and Inferred material represents 176,700 tonnes at 1.07g/t gold for 6,100 ounces. The assessment for Reasonable Prospects for Eventual Economic Extraction (RPEEE) was based on conventional open-pit mining methods. This evaluation incorporated mining, processing, and road haulage costs, alongside metallurgical recovery and processing through the Edna May facility, assuming a gold price of A$6,000 per ounce.
