Forrestania Resources Limited has released a pre-feasibility study for the British Hill gold deposit in Western Australia, establishing a maiden probable ore reserve of 1,563 kilotonnes at 1.43 grams per tonne gold for 71.9 thousand ounces.

When Forrestania acquired the project in July 2025, the mineral resource stood at 1,167,000 tonnes at 1.5 grams per tonne gold for 55,888 ounces. The pre-feasibility study now incorporates a larger mineral resource of 3.29 million tonnes at 1.66 grams per tonne gold for 175 thousand ounces, following extensive drilling across the mining lease.

The study outlines a 24-month project life comprising approximately 23 months of open-pit mining and an 11-month processing schedule. The production target is fully underpinned by the maiden ore reserve, with inferred material treated as waste. Total project capital expenditure is estimated at approximately A$16.1 million.

Under the operational plan, mined ore will be hauled 145 kilometres by road to Forrestania's established Edna May processing facility, utilizing conventional carbon-in-pulp methods with an average metallurgical recovery of 89%. At a base gold price of A$5,500 per ounce, the project is projected to generate an estimated pre-tax undiscounted free cash flow of A$104.8 million, with an average all-in sustaining cost of A$3,609 per ounce. At a higher gold price of A$6,140 per ounce, pre-tax undiscounted free cash flow increases to A$144.4 million at an average all-in sustaining cost of A$3,628 per ounce.

"The British Hill Pre-Feasibility Study and Ore Reserve mark a major step forward for the project, converting a substantial portion of the higher-confidence Mineral Resource into Ore Reserves and establishing a clear pathway toward development."

"British Hill is a strong fit with Forrestania's hub strategy, with ore planned to be hauled to the established Edna May processing facility. The project has the potential to deliver near-term gold production while further RC and Diamond drilling continues to grow the broader resource and reserve base."

— David Geraghty, Chairman

The company is actively progressing staged environmental and mining approvals for British Hill in accordance with its development schedule.

Read the full announcement: British Hill Pre-Feasibility Study and Ore Reserve