Forrestania Resources (ASX: FRS) has lifted the Mineral Resource at its British Hill gold deposit in Western Australia by 21% to 212,400 ounces, only a month after its previous estimate. More important than the headline number is the quality of the growth, with higher-confidence Indicated ounces jumping 37% and now making up more than half of the total.
What the Upgrade Shows
The updated estimate sits at 4.12 million tonnes grading 1.60g/t gold at a 0.5g/t cut-off. Indicated Resources account for 138,100 ounces at 1.62g/t, while the Inferred portion holds 74,300 ounces at 1.57g/t. The increase came from 15 extra reverse circulation holes covering 3,685 metres, part of a 2026 campaign that has now reached 39 holes and more than 10,000 metres. Three RC rigs and a diamond rig remain on site, chasing extensions along strike and at depth.
Early metallurgical testing points to recoveries of roughly 84% to 91% using conventional gravity and leach processing, with around 40% of the gold recoverable by gravity alone. The pit shell used to test economic potential assumed a gold price of A$6,000 an ounce.
Why the Indicated Shift Matters
Under the JORC Code, Indicated ounces carry enough confidence to feed pre-feasibility work and financing discussions, which Inferred ounces generally cannot. Moving more than half of British Hill into that category is a step from exploration towards development planning. It mirrors a broader pattern among Western Australian producers and developers, such as Catalyst Metals lifting its Trident reserve earlier this month, where converting ounces into higher categories is driving valuations.
What ASX Gold Investors Should Watch
British Hill lies about 145km by road from the Edna May processing plant, and Forrestania is working towards regional hubs at Edna May and Lake Johnston. Securing a milling pathway is one of its stated priorities, but no production decision has been announced and further studies and approvals are still required. With the gold price holding near record levels, as covered in our recent look at the Fed and the ASX merger wave, near-mill ounces like these are drawing close attention. More coverage is available on our gold hub.
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