Forrestania Resources (ASX:FRS) said one-meter assays from drilling at the Ada Ann prospect, at its Bonnie Vale gold project in Western Australia, resulted in high-grade gold mineralization, according to a Wednesday Australian bourse filing.
The results included a significant intercept of two meters at 10.7 grams per tonne grade of gold from 62 meters.
A second phase of drilling has recently been completed at the prospect, testing for mineralization at depth. Results from this phase of drilling are expected to be returned within six to eight weeks.
The firm's shares fell 10% on Wednesday's close.
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