Deepest Hole To Date Intersects 55m at 3.06 g/t Au
Fosterville South Exploration Ltd (TSXV: FSX) has recorded multiple gold hits from its ongoing drill programme at its Golden Mountain Project in Victoria, Australia.
Multiple holes have intersected long intervals of strong gold mineralisation, including GMDH 45 which returned 55.1 metres at 3.06 g/t Au, including 15.9 metres at 6.93 g/t Au in the deepest hole drilled to date in the N-S zone.
Chief Operating Officer and Director, Rex Motton, said the N-S zone is open at depth and open along strike.
“Drilling at Golden Mountain continues to intersect strong gold grades over lengthy intervals with excellent distribution of grade throughout the system. These assay results continue to demonstrate the potential for grade, size and continuity,” Mr Motton said.
Fosterville South is awaiting assays on 11 additional holes drilled at Golden Mountain.Assays pending include four diamond drill holes from the southern part of the N-S zone and seven RC scout holes that were drilled at various extensional targets to the Golden Mountain mineralisation.
Mr Motton said Fosterville South is well capitalised to fund its growing exploration platform in Victoria, Australia with a strong balance sheet and more than A$30 million cash on hand. This will allow Fosterville South to fund a systematic approach to un-explored prior high-grade production at Lauriston, Providence, Beechworth, Moormbool and the Woods-Walhalla belt.
AHe said the geological interpretation of the central mineralisation at Golden Mountain as a north-south striking near vertical fault zone (N-S zone) is confirmed, with east-west faults and intrusive granitic dyke swarms (E-W zone) adding further zones of mineralisation.
