Forrestania Resources Ltd (ASX: FRS), an Australian gold exploration and development company focused on building a significant Western Australian gold business, today announced a positive Pre-Feasibility Study (PFS) and maiden Ore Reserve for its British Hill Gold Project. The study, dated 18 September 2026, presents a near-term gold production opportunity, underpinned by a maiden Probable Ore Reserve of 1,563 kilotonnes at 1.43 grams per tonne of gold for 71.9 thousand ounces. This milestone marks a significant step forward for the project, situated 75 kilometres south-southeast of Southern Cross in Western Australia’s Yilgarn Mineral Field.
The PFS highlights robust financial projections, estimating a pre-tax undiscounted free cash flow of A$104.8 million over a 24-month project life, based on a gold price of A$5,500 per ounce. Total project capital is estimated at approximately A$16.1 million, with an average All-In Sustaining Cost (AISC) of A$3,609 per ounce. Mining is scheduled over 23 months, with processing at an average metallurgical recovery of 89% expected over an 11-month period. Ore is planned to be transported approximately 145 kilometres by road to Forrestania’s established Edna May processing facility, leveraging existing infrastructure and reducing upfront development costs.
Forrestania Resources Chairman David Geraghty commented that the British Hill PFS and Ore Reserve convert a substantial portion of the higher-confidence Mineral Resource, establishing a clear pathway towards development. He added that British Hill aligns strongly with Forrestania’s “hub strategy,” having the potential to deliver near-term gold production while ongoing drilling efforts aim to expand the broader resource and reserve base. Project development is already well advanced, with key contracts in place and necessary approvals progressing in line with the planned schedule, including the Edna May tailings storage facility lift.
