Forrestania Resources Limited has announced a maiden JORC-compliant inferred resource estimate for its Ada Ann gold deposit, which forms a key component of its Bonnie Vale project located in Western Australia’s prolific goldfields. The estimate reports 231,600 tonnes grading 1.67g per tonne of gold, resulting in approximately 12,419 ounces contained within the deposit. Notably, the discovery cost is estimated at just around A$33 per ounce, underscoring the deposit’s attractive production economics. The deposit’s shallow, near-surface mineralisation is expected to help lower mining costs, while planned resource expansion drilling aims to further increase gold inventory and upgrade resource classifications. The technical report details a comprehensive drilling campaign that accumulated some 6,747 metres from over 130 holes, with both reverse circulation and RC drilling methods successfully applied. Using an inverse distance cubed (IDW3) interpolation method within a 3D block model constructed in Surpac software, the team delineated four domains of mineralisation. The resource estimate, based on a cut-off grade of 0.5g/t Au, is supported by a robust quality control regime, standard sample preparation, and assay protocols, which together add confidence to the initial resource figures. In addition, several high-grade intercepts—some reaching over 50 grams of gold per metre over modest widths—hint at the deposit’s potential for higher-grade zones that could enhance the overall economics if further confirmed. While the announcement includes extensive drill data and technical parameters that validate the deposit’s continuity and geological settings, it also acknowledges that all resources are currently classified as inferred. No metallurgical test work has been completed yet, meaning that further work is required to fully understand the ore’s processing characteristics and to increase the resource’s confidence level. From a market sentiment perspective, the news supports a bullish outlook given the attractive discovery cost, near-surface mineralisation, and promising high-grade intercepts, which suggest significant upside potential with additional drilling and operational improvements. However, caution is warranted on the bearish side, as the resource remains in the inferred category and awaits metallurgical validation. For beginner traders, while the low cost per ounce and clear path to resource expansion are encouraging, the early stage of the project indicates that some technical and economic uncertainties persist until further exploration and testwork are completed.