Fosterville South Exploration (TSX.V: FSX)
Fosterville South reported on ongoing drilling activities at the high-grade Reedy Creek goldfield within the Providence Project in Victoria, Australia.
While there has been no modern exploration at Reedy Creek, historical gold production reported at Reedy Creek is 43,489 tons for 39,223 oz at 26.8 g/t Au.
.
Fosterville South announces ongoing drilling activities at Reedy Creek
.
.
| Fosterville South | TSX.v : FSX |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$67 m @ C$0.98 |
| Location | Victoria State, Australia |
.
Fosterville South Providence project map
.
.
July 30, 2021. Fosterville South Exploration Ltd. (“Fosterville South”) or (the “Company”) (TSXV:FSX) (OTC: FSXLF) (Germany: 4TU) is pleased to report on ongoing drilling activities at the high-grade Reedy Creek goldfield within the Providence Project in Victoria, Australia.
The Reedy Creek goldfield occurs in the Melbourne Zone and has a history of gold production from epizonal quartz veins, despite no drilling within the central goldfield apart from two vertical drill holes completed in the mid 1890s.
While there has been no modern exploration at Reedy Creek, historical gold production reported at Reedy Creek is 43,489 tons for 39,223 oz at 26.8 g/t Au.
The Fosterville South drill program at Reedy Creek has been underway for the past 15 days and commenced after the team negotiated and then signed 7 separate access agreements, while garnering strong community support for this exploration effort.
All of this planned drilling is on private properties, which facilitates a streamlined drill program process once agreements are in place, which have now been completed.
The initial 25 drill-hole program will total approximately 2,250 metres and is initially focussed on two ridge targets with extensive geochemical anomalies established by Fosterville South fieldwork together with associated various historic workings.
In preparation of drilling, a sampling program has also been completed, which returned multiple high grade assays from the laboratory this week, including 145 g/t Au, 112 g/t Au and 94 g/t Au .
.
Fosterville South management comments
“The acceleration and ramping up of concurrent drilling on multiple Fosterville South projects has been predicated by a lot of fieldwork, access agreement negotiations, obtaining of permits, signing of drill contracts and building up logistical support.
“With these preparations in place due to the hard work of the team in Victoria, Fosterville South is well positioned to grow the current drill program at various targets into an increasingly larger drill program.
“This bodes well as we seek to unlock value within this premier 4,000 square km land package of tenement and tenement applications that have been assembled over a multi-year period.
“We have a very strong cash position, a multitude of outstanding targets, excellent shareholders, and a technical team with a track record of geological success. This combination puts us in a great position to execute our business plan.”
Fosterville South CEO and Director, Bryan Slusarchuk
.
.
.
.=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
Disclosure
At the time of writing the author holds shares in Fosterville South, bought in the market at the prevailing price on the day of purchase.
.
To read our full terms and conditions, please click HERE