FRS: Lady Ada & Lady Magdalene Mineral Resource Estimate Update
Original announcement by asx on
- Company
- Forrestania Resources Ltd
- Ticker
- FRS
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-30 00:21:38 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Forrestania Resources has released an updated JORC Mineral Resource Estimate for its Lady Ada and Lady Magdalene deposits, totaling 4.89 Mt at 1.82 g/t Au for 285,700 oz Au. The update shows a 43% increase in higher-confidence Measured and Indicated resources, though overall contained gold ounces decreased by 4%. The project is subject to an ongoing legal dispute.
Reasoning: The updated Mineral Resource Estimate for Lady Ada and Lady Magdalene shows a significant 43% increase in higher-confidence Measured and Indicated resources, improving project de-risking and supporting future development. However, this comes with a 4% decrease in overall contained gold ounces and the project is subject to an ongoing legal dispute. The estimate is JORC compliant and signed off by a Competent Person, with metallurgy indicating free-milling ore.
Positive factors
- Category Upgrade
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Contained Metal Decline
- Legal Dispute
- No External Audit
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 14
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Higher-confidence Measured and Indicated Mineral Resources have increased by 43% since the Mineral Resource Estimate announced on 7 May 2026, reflecting the successful conversion and expansion of the Mineral Resource base
Evidence · text
“Higher-confidence Measured and Indicated Mineral Resources have increased by 43% since the Mineral Resource Estimate announced on 7 May 2026”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Mineral Resource estimate is based on information compiled by Mr Lynn Widenbar, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy and consents to the inclusion of the report.
Evidence · text
“The information in this report that relates to Mineral Resources is based on information compiled by Mr Lynn Widenbar, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr Widenbar consents to the inclusion in the report of the matters based on his information in the form and context that the information appears.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate is stated to be JORC compliant.
Evidence · text
“JORC Mineral Resource Estimate (“MRE”)”
Free Millingpositive · Story-specific tag
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: Metallurgical assumptions indicate a free milling deposit achieving +90% recoveries using conventional CIL technology.
Evidence · text
“As per sighter work undertaken by AMMTEC for Sons of Gwalia, the underlying metallurgical assumptions are of a free milling deposit that achieves +90% recoveries using conventional CIL technology.”
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: The Ladies MRE update represents a 4% decrease in estimated gold ounces following the re-estimation.
Evidence · text
“The Ladies MRE update represents a 4% decrease in estimated gold ounces”
Legal Disputenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The Lady Ada and Lady Magdalene deposits are subject to a legal dispute with Classic Minerals Limited.
Evidence · text
“The Lady Ada and Lady Magdalene deposits are subject to a legal dispute with Classic Minerals Limited.”
No External Auditnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The resource has not been externally audited but has been internally reviewed.
Evidence · text
“The resource has not been externally audited but has been internally reviewed.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate for the Lady Ada and Lady Magdalene deposits.
Evidence · text
“Lady Ada & Lady Magdalene Mineral Resource Estimate Update”
Extracted facts
Stored fact records: 14. Some facts used in scoring do not have a stored record.
Resource Estimates (14)
measuredLady Ada & Lady Magdalene · goldTonnes: 158000Grade: 3.04Grade Unit: g/tContained Metal: 15400Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:e4b81d34da8a6b009864
- Deposit or zone
- Lady Ada & Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 158000
- Grade
- 3.04
- Grade Unit
- g/t
- Contained Metal
- 15400
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Measured resource represents the highest confidence category, contributing to the 43% increase in higher-confidence resources, and is part of a JORC compliant estimate signed by a Competent Person.
Positive factors
- Measured Resource
- Category Upgrade
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“3.04”
Context: 158,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLady Ada & Lady Magdalene · goldTonnes: 1530000Grade: 1.73Grade Unit: g/tContained Metal: 85000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:3042a980e2db71e2a85c
- Deposit or zone
- Lady Ada & Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 1530000
- Grade
- 1.73
- Grade Unit
- g/t
- Contained Metal
- 85000
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Indicated resource contributes significantly to the 43% increase in higher-confidence resources, enhancing the project's de-risking profile, and is part of a JORC compliant estimate signed by a Competent Person.
Positive factors
- Indicated Resource
- Category Upgrade
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“1.73”
Context: 1,530,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 3200000Grade: 1.8Grade Unit: g/tContained Metal: 185300Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:d630daa5532597dd395f
- Deposit or zone
- Lady Ada & Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 3200000
- Grade
- 1.8
- Grade Unit
- g/t
- Contained Metal
- 185300
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Inferred resource, while lower confidence, contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Inferred Resource
- No External Audit
Evidence · table
“1.80”
Context: 3,200,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 4888000Grade: 1.82Grade Unit: g/tContained Metal: 285700Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:8c7cd84c23dc3a81dda8
- Deposit or zone
- Lady Ada & Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 4888000
- Grade
- 1.82
- Grade Unit
- g/t
- Contained Metal
- 285700
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource shows a 4% decrease in contained gold ounces compared to the prior estimate, despite an increase in higher-confidence categories, and is subject to an ongoing legal dispute.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Contained Metal Decline
- Legal Dispute
- No External Audit
Evidence · table
“285,700”
Context: 4,888,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
measuredLady Ada & Lady Magdalene · goldTonnes: 158000Grade: 3.04Grade Unit: g/tContained Metal: 15400Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:1d8fa4557aa9f7dc80d5
- Deposit or zone
- Lady Ada
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 158000
- Grade
- 3.04
- Grade Unit
- g/t
- Contained Metal
- 15400
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Measured resource for Lady Ada represents the highest confidence category, contributing to the overall resource upgrade, and is part of a JORC compliant estimate signed by a Competent Person.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“15,400”
Context: 158,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLady Ada & Lady Magdalene · goldTonnes: 697000Grade: 1.65Grade Unit: g/tContained Metal: 36900Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:af9f67d61ba69656037a
- Deposit or zone
- Lady Ada
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 697000
- Grade
- 1.65
- Grade Unit
- g/t
- Contained Metal
- 36900
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Indicated resource for Lady Ada contributes to the higher-confidence resource base, enhancing the project's de-risking profile, and is part of a JORC compliant estimate signed by a Competent Person.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“1.65”
Context: 697,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 497000Grade: 1.27Grade Unit: g/tContained Metal: 20200Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:f81bcf084e717b04dbfb
- Deposit or zone
- Lady Ada
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 497000
- Grade
- 1.27
- Grade Unit
- g/t
- Contained Metal
- 20200
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Inferred resource for Lady Ada, while lower confidence, contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Inferred Resource
- No External Audit
Evidence · table
“1.27”
Context: 497,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 1352000Grade: 1.67Grade Unit: g/tContained Metal: 72500Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:c16948058bff3fb36e14
- Deposit or zone
- Lady Ada
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 1352000
- Grade
- 1.67
- Grade Unit
- g/t
- Contained Metal
- 72500
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource for Lady Ada contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“72,500”
Context: 1,352,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLady Ada & Lady Magdalene · goldTonnes: 833000Grade: 1.79Grade Unit: g/tContained Metal: 48100Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:68b827f4739eb3e181fc
- Deposit or zone
- Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 833000
- Grade
- 1.79
- Grade Unit
- g/t
- Contained Metal
- 48100
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Indicated resource for Lady Magdalene contributes to the higher-confidence resource base, enhancing the project's de-risking profile, and is part of a JORC compliant estimate signed by a Competent Person.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“1.79”
Context: 833,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 2703000Grade: 1.9Grade Unit: g/tContained Metal: 165100Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:7fbc2614efe5c2eb4590
- Deposit or zone
- Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 2703000
- Grade
- 1.9
- Grade Unit
- g/t
- Contained Metal
- 165100
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This Inferred resource for Lady Magdalene, while lower confidence, contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Inferred Resource
- No External Audit
Evidence · table
“1.90”
Context: 2,703,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 3536000Grade: 1.87Grade Unit: g/tContained Metal: 213200Contained Unit: ozView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:d25842592a77f036387f
- Deposit or zone
- Lady Magdalene
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 3536000
- Grade
- 1.87
- Grade Unit
- g/t
- Contained Metal
- 213200
- Contained Unit
- oz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource for Lady Magdalene contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed.
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“213,200”
Context: 3,536,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 1352000Grade: 1.67Grade Unit: g/tView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:cf306acef458f0b7f761
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 1352000
- Grade
- 1.67
- Grade Unit
- g/t
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource for Lady Ada contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“1.67”
Context: 1,352,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 3536000Grade: 1.87Grade Unit: g/tView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:b0930025583a0fef69a4
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 3536000
- Grade
- 1.87
- Grade Unit
- g/t
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource for Lady Magdalene contributes to the overall resource base and is part of a JORC compliant estimate signed by a Competent Person, with RPEEE addressed. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- No External Audit
Evidence · table
“1.87”
Context: 3,536,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLady Ada & Lady Magdalene · goldTonnes: 4888000Grade: 1.82Grade Unit: g/tView all detailsHide details
Identity
- Project
- Lady Ada & Lady Magdalene
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- FRS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Lynn Widenbar
- Resource group id
- resource:bc237c1d1e9f50f23124
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 4888000
- Grade
- 1.82
- Grade Unit
- g/t
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-09-30
Location
- CRS
- GDA2020/MGA2020 Zone 50
- EPSG
- 7850
- Loc. Confidence
- low
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total resource shows a 4% decrease in contained gold ounces compared to the prior estimate, despite an increase in higher-confidence categories, and is subject to an ongoing legal dispute. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- QP/CP Signed
- JORC Compliant
- Free Milling
- RPEEE Addressed
Negative factors
- Contained Metal Decline
- Legal Dispute
- No External Audit
Evidence · table
“1.82”
Context: 4,888,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.