Forrestania Resources Reports Maiden Ore Reserve of 14,700 Ounces for Western Australia's Tycho Deposit

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Forrestania Resources (ASX:FRS) has estimated a maiden ore reserve of 418,000 tonnes at 1.1 grams per tonne gold for 14,700 ounces of gold in the probable category for the Tycho Deposit within its MacPhersons Reward project in Western Australia, according to a Friday Australian bourse filing.

The company said the maiden ore reserve provides 100% of the production target underpinning the pre-feasibility study (PFS), which estimates pre-tax undiscounted free cash flow of AU$9.9 million at a gold price of AU$5,500 per ounce over an eight-month project life, the filing added.

Mining is scheduled over about seven months and processing over four months at an average all-in sustaining cost (AISC) of AU$3,849 per ounce and total project capital of about AU$11.5 million, Forrestania added.

At a gold price of about AU$6,140 per ounce as of Sept. 11, estimated pre-tax undiscounted free cash flow increases to AU$18 million with an average AISC of AU$3,864 per ounce, while the Tycho mineral resource estimate stands at 1.44 million tonnes at 0.98 grams per tonne gold for 45,500 ounces with about 92% classified as measured and indicated, it added.

The company's shares rose 2% in recent Friday trade.

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14,700 ounces of gold in the probable category for the Tycho Deposit within its MacPhersons Reward project in Western Australia, according to a Friday Australian bourse filing.The company said the maiden ore reserve provides 100% of the production target underpinning the pre-feasibility study (PFS), which estimates pre-tax undiscounted free cash flow of AU$9.9 million at a gold price of AU$5,500 per ounce over an eight-month project life, the filing added.Mining is scheduled over about seven months and processing over four months at an average all-in sustaining cost (AISC) of AU$3,849 per ounce and total project capital of about AU$11.5 million, Forrestania added.At a gold price of about AU$6,140 per ounce as of Sept. 11, estimated pre-tax undiscounted free cash flow increases to AU$18 million with an average AISC of AU$3,864 per ounce, while the Tycho mineral resource estimate stands at 1.44 million tonnes at 0.98 grams per tonne gold for 45,500 ounces with about 92% classified as measured and indicated, it added.The company's shares rose 2% in recent Friday trade.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}