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Fosterville South announces drill results from Golden Mountain

Published by , Editorial Director
Global Mining Review,

Fosterville South Exploration has intersected long intervals of gold mineralisation in multiple drill holes from ongoing core drilling at its Golden Mountain Project in Victoria, Australia.

The results confirm and expand the known mineralised footprint at Golden Mountain, which remains open at depth and open along strike, particularly as the interpretation of the previous drilling is proving to be reliable. Every core drill hole completed to date has intersected gold mineralisation and drilling is ongoing. Two core drill rigs are in operation at Golden Mountain currently and additional assays, from recently drilled infill and expansion holes, are expected imminently.

Fosterville South COO, Rex Motton, said: “Drilling to date at Golden Mountain has returned multiple holes with long intervals of excellent gold mineralisation. Now, as we continue to expand the footprint, the potential for size, volume and continuity is becoming more and more apparent. We are moving toward further deeper drilling on both the E-W zone and the Main Central Zone. More results from the ongoing confirmation, expansion and exploration drilling are expected in the coming days and we look forward to keeping investors up to date as we advance onsite.”

Additionally, the company is pleased to announce the appointment of Liza Gazis to the Board of Directors.

Gazis is a mining industry consultant with over 30 years of experience with specific expertise in GIS and tenement management. Among other significant corporate assignments with organisations such as Pasminco, Gold Mines of Australia, Geological Survey of Victoria, BHP Petroleum and Vicotrian Mines Department, she has had a long-standing involvement with the Fosterville Mine since its start up in 1989 – 1990.

Fosterville South Chairman, James Hutton, commented: “Liza brings a wealth of knowledge and experience in Victoria to the board of Fosterville South and we look forward to her contribution as a Director, which we beliebe will be significant and impactful.”

Gazis added: “I am pleased to be joining the board of Fosterville South. These properties have outstanding exploration and development potential and, in my opinion, represent the best land package of gold exploration assets and historical mines assembled in Victoria during the last few decades. Fosterville South has a remarkable first mover exploration advantage in Victoria and I look forward to working with the team moving forward.”

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Australian mining news Gold mining news