Financial, market and economic news

Fosterville South Receives Permitting for 15 Additional Drill Pads at Golden Mountain

VANCOUVER, BC, Oct. 14, 2020 /PRNewswire/ – Fosterville South Exploration Ltd. (“FSX” or the “Company“) (TSXV:FSX) (OTC:FSXLF) (Germany: 4TU) is pleased to announce that it has obtained the necessary government approvals to drill from an additional 15 drill pad locations at its Golden Mountain gold project located in Victoria, Australia.


  • Multiple holes can be drilled from each of the newly approved drill pad locations within Exploration License EL006430

  • This newly issued permit will allow the company to extensively drill test for:

    • mineralisation south of the key east-west fault, within the main N-S zone, where multiple high-grade gold intercepts were recently reported by Fosterville South in the southernmost hole drilled to date

    • western extensions of the mineralised east-west fault

    • central part & western extensions to the northern E-W granite contact zone

    • and the depth extensions of the main N-S zone

Fosterville South Chief Operating Officer and Director, Mr. Rex Motton states, “As described in our recent October 1, 2020 News Release, we have intersected a zone of high-grade mineralisation, with visible gold in the drill core, at a location further south than previous high-grade intersections and south of the key east-west fault. Assays were excellent from this hole which reported 28 metres at 10.2 g/t Au (9.0m true width), including 13 metres at 17.5 g/t Au (4.2m true width) and 11m at 4.8 g/t Au (3.5m true width). The new permits received will allow us to extensively test this area and other key areas to our understanding of the mineralisation, which remains open at depth and open along strike.”

The new permit was received under provisions of sub-section 44 …

Full story available on

Read More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Privacy & Cookies Policy