Fosterville South reports intersections of gold

Highlights:

• Diamond (core) drilling has commenced and is designed to test main target area.
• Shallow scout drilling has returned multiple wide intersections including high grade gold near surface.
• High-grade gold intercepts occurring within a newly identified Northern zone via this scout drilling.

Core drilling has commenced and is ongoing at the Golden Mountain project, with initial assay results from core drilling expected during the next 30 days.

In the meantime, a series of shallow scout holes have resulted in the discovery of a new North zone on the project, with initial near surface drill holes in this new zone intersecting multiple wide intervals of high-grade gold.

Results from this initial near surface percussion drilling include 2 m at 10.78 g/t gold within a total intercept of 20 m at 2.12 g/t gold in hole GMP 11 (from 32 m) and 18 m at 5.34 g/t golf within a total intercept of 26 m at 3.82 g/t gold in hole GMP 13 (from 40 m). GMP 6 included 3 m at 5.36 g/t gold and GMP 14 included 7 m at 3.57 g/t gold.

Drill holes GMP01, GMP08, GMP12 and GMP13 all ended in significant gold mineralisation.

The northern ‘E-W zone’ strikes approximately northeast and lies 100 m north of the main central zone which strikes north-south. The ‘E-W zone’ is a new discovery and the projected intersection of the two zones has not been explored. The ‘E-W zone’ is open along strike to the west and east. Further drilling on the ‘E-W zone’ is planned.

The current programme is to be conducted in two parts, consisting of shallow percussion drilling targeting the northern mapped east-west mineralised zone (GMP01 to GMP08) and core (diamond) drilling targeting the deeper zones of the central mineralised section. Some shallow percussion drill holes have also been conducted in the central mineralised zone (GMP09 to GMP14). The diamond drilling programme is ongoing in the central zone where strongly broken ground requires slowed down drilling to maximise recovery. Explorers and miners noted the association of better gold mineralisation in the more broken ground. Core recoveries have been excellent when drilling is undertaken with care.

Fosterville South CEO, Rex Motton, stated: “The core drilling component of this programme, now underway, is targeting what we believe is the section with potential for high gold grades. To now have multiple holes in the scout drilling programme return high-grades of gold near surface within a newly identified area to the north now adds another dimension to Golden Mountain. Once assays from the core drilling start to arrive, we will look to model the data and expand the drill programme. This is an exceptional start to drilling and we look forward to further assay data.”

Read the article online at: https://www.globalminingreview.com/exploration-development/24062020/fosterville-south-reports-intersections-of-gold/