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Fosterville South Exploration Ltd.
Fosterville South Exploration Ltd.
Registriert in: Kanada WKN: A2QJKK Rohstoffe:
Art: Originalaktie ISIN: CA3502676057 Gold
Heimatbörse: TSX Venture Alternativ: FSXLF
Währung: CAD    
Symbol: FSX.V Forum:

Fosterville South Commences Drilling at Lauriston Project While Three Rigs are Currently Operating at Reedy Creek Within the Providence Project

15.03.2022 | 13:30 Uhr | CNW


  • Lauriston is immediately south of and contiguous with Kirkland Lake Gold's Fosterville Mine tenements.
  • 600 km2 project with excellent structural setting and significant historic high-grade gold production reported despite lack of modern exploration and drilling.
  • Follows up on initial reconnaissance drilling and field work completed in 2021 to develop drill targets
  • Three drill rigs are currently drilling at Reedy Creek within the Providence Project

VANCOUVER, BC, March 15, 2022 /CNW/ - Fosterville South Exploration Ltd. ("Fosterville South") or (the "Company") (TSXV: FSX) (OTCQX: FSXLF) (Germany: 4TU) is pleased to report that it has commenced a diamond drilling program at the Comet-New Trojan targets at Lauriston Gold Project, Victoria, Australia ("Lauriston").

Fosterville South plans to carry out an extensive diamond drilling at Lauriston, commencing at the Comet target to confirm the structural controls of the wide zones of gold mineralization that were discovered during initial reconnaissance work in 2021.

At the New Trojan target, which is located in close proximity to Comet, Fosterville South will conduct the first modern day drill program.

The drilling has commenced at these high priority targets after various community consultations and getting all regulatory approvals in place.

Lauriston is an epizonal gold-antimony-arsenic mineralised project, which has the best potential to be the southern extension of the Fosterfield Goldfield Belt, outside of Kirkland Lake Gold's tenements. The Redesdale, Whitelaw and Taradale Faults intersect Lauriston, although in some areas are covered by a very thing young basalt cover, leaving these particular areas on the property never explored.

Meanwhile, as drilling at Lauriston has just commenced, the Company has concurrently accelerated drilling at the Reedy Creek target within the Providence Project. Two of the three rigs at Reedy Creek are diamond rigs while the other is a reverse circulation rig.

About Fosterville South Exploration Ltd.

Fosterville South began with two, 100% owned, high-grade gold projects called the Lauriston and Golden Mountain Projects, and has since acquired a large area of granted and application tenements containing further epizonal (low-temperature) high-grade gold mineralisation called the Providence Project and a large group of recently consolidated license tenement applications called the Walhalla Belt Project, which contain a variety of epizonal and intrusion related style gold mineralisation, all in the state of Victoria, Australia. The Fosterville South land package, assembled over a multi-year period, notably includes a 600 sq. km property immediately to the south of and within the same geological framework that hosts Kirkland Lake Gold's Fosterville epizonal gold tenements. Additionally, Fosterville South has gold-focused projects called the Moormbool and Beechworth, which are also located in the state of Victoria, Australia. Moormbool project has epizonal style gold mineralisation and Beechworth has mesozonal and intrusion relation gold mineralisation.

All of Fosterville South's properties, with the possible exception of Moormbool, have had historical gold production from hard rock sources despite limited modern exploration and drilling.

Qualified Person

The technical content of this news release has been reviewed, verified and approved by Rex Motton, AusIMM (CP), COO and Director of Fosterville South, a qualified person as defined by NI 43-101. Historical records were verified by reviewing annual and quarterly reports from government records by the Qualified Person.

On behalf of the Company
Rex Motton
Chief Operating Officer and Director

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fosterville South cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Fosterville South's limited operating history, its exploration and development activities on the Lauriston, Golden Mountain, Providence and Beechworth Properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Fosterville South does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fosterville-south-commences-drilling-at-lauriston-project-while-three-rigs-are-currently-operating-at-reedy-creek-within-the-providence-project-301502846.html

SOURCE Fosterville South Exploration Ltd.

Adam Ross, Investor Relations, Direct : (604) 229-9445, Toll Free: 1(833) 923-3334, Email: info@fostervillesouth.com
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Weitere Nachrichten, englisch zu Fosterville South Exploration Ltd.
27.04.22 Fosterville South Reports High Grade Intersection of 2m at 174.42 g/t Gold, including 1m at 348 g/t Gold During Drilling at Reedy Creek
15.03.22 Fosterville South Commences Drilling at Lauriston Project While Three Rigs are Currently Operating at Reedy Creek Within the Providence Project
18.01.22 Fosterville South Exploration Ltd. Reports Initial 2022 Assays from Drilling at the Beechworth Project
05.11.21 Fosterville South Adds Second Drill Rig at Beechworth Gold Project and Now Has a Total of Four Rigs Turning
15.10.21 Fosterville South Reports Assays from First Core Drill Hole at Beechworth Gold Project With Hole HBDH001 Returning 8.6m at 5.22 g/t Gold including 3.6m at 10.72 g/t Gold
14.10.21 Fosterville South's Initial Follow Up to Discovery Hole at Reedy Creek Shows System's Ability to Produce Very High Grades, With Drill Assays up to 238.1 g/t Gold in Shallow Drilling
27.09.21 Fosterville South Commences Core Drilling at Reedy Creek to Follow Up on Recent High Grade Gold Results
09.08.21 Fosterville South Intersects 11m at 31.34 g/t Gold Including 4m at 80.05 g/t Gold During Initial Drilling at the Reedy Creek Goldfield Within Providence Project
30.07.21 Fosterville South Announces Ongoing Drilling at Reedy Creek Goldfield Within the Providence Project
29.07.21 Fosterville South Announces New Discovery at Golden Mountain and Drilling Results at Lauriston and Beechworth Projects
14.07.21 Fosterville South Upgrades to the OTCQX
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