Classic Minerals has also cleared the site for the processing plant in preparation for getting approval to assemble the plant. A shed and process water tanks have been erected.
The approved area for the well is about 1km from the where the processing plant, which is likely to be a modular Gekko Systems plant, is to go.
The bore field development will be done in stages with one bore to be completed, tested and water pumped to the tanks before the second bore, if needed, is started.
It is believed taking this approach will allow Classic to manage and draw only the approved amount of water, as required by the process plant.
The processing plant is about 7km from the mining area.
Last month Classic Minerals had its Kat Gap mining proposal, as well as the mine closure plan, approved, clearing the way for full scale mining.
Classic Minerals's Dean Goodwin said the approval of the water bore provided the company with more confidence and certainty of achieving mining success.
"I've spent plenty of time in the Forrestania area looking and finding water for previous operators so I've got a pretty good idea where to look," he said.
