Fosterville South Exploration {TSX.V: FSX}
Has added a second drill rig to accelerate drilling at Golden Mountain.
Fosterville South chief operating officer Rex Motton states: “The core drilling component of this program, now accelerating, is targeting a section with potential for high gold grades.
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Fosterville adds second drill rig to Golden Mtn program
2020-07-02 05:20 ET – News Release
Mr. Rex Motton reports
Fosterville South Exploration Ltd. has accelerated drilling at its Golden Mountain project, located in Victoria, Australia.
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Highlights
- Diamond (core) drilling has commenced and is designed to test main target area.
- A second diamond drill rig, purchased by Fosterville South, has been added to the program.
- Shallow scout drilling with a percussion rig returned multiple wide intersections including high-grade gold near surface and now two diamond drill rigs are operating.
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As described in Fosterville South’s news release dated June 23, 2020, a series of shallow scout holes resulted in multiple wide intervals of high-grade gold and also included the discovery of a new North zone on the project. Multiple holes from this initial phase of percussion drilling ended in significant mineralisation.
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The company commenced drilling the main target area with a diamond drill rig owned by a contractor. Drilling with the contractor-owned rig continues. The company has now added a second drill rig to Golden Mountain, which was purchased by Fosterville South. This drill rig is a Dynatech DICD120GR machine, is track mounted, has low engine hours and is capable of drilling 1,000-metre holes. For reference, holes in the current drill program have target depths up to 300 metres.
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This second diamond drill rig has been added to the program based on the excellent results to date and a desire to increase the pace of drilling.
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Fosterville South chief operating officer Rex Motton states: “The core drilling component of this program, now accelerating, is targeting a section with potential for high gold grades. As assays are received, we will report on results and also model the data along with the recently reported near-surface discovery to guide further drilling.”
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About Fosterville South Exploration Ltd.
Fosterville South has two large, 100-per-cent-owned, high-grade epizonal gold projects called the Lauriston and Golden Mountain projects, a large group of tenement applications called the Providence project, and a large group of recently consolidated tenement applications called the Walhalla Belt project, all in the state of Victoria, Australia.
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The Fosterville South land package, assembled over a multiyear period, notably includes a 600-square-kilometre property immediately to the south of and within the same geological framework that hosts Kirkland Lake Gold’s Fosterville tenements. Additionally, Fosterville South recently acquired three gold-focused projects called the Moormbool, Timor and Avoca projects, which are also located in the state of Victoria, Australia.
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