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Fosterville South reports Reedy Creek assay results

Published by
Global Mining Review,


Fosterville South Exploration Ltd has reported that the maiden percussion drilling programme at Thompson Reef and Prince of Wales Reef within the Reedy Creek target of the Providence Project in Victoria, Australia, has returned strong gold grades. Additional assays are pending from drilling at high priority gold targets at Reedy Creek.

Highlights

  • Strong gold assay of 2 m at 174.42 g/t gold (Au), including 1 m at 348 g/t Au in reverse circulation drill hole TRC02.
  • High-grade results are shallow and from the most easterly holes drilled to date at Thompson Reef.
  • Assays pending from additional holes including from multiple holes at Reedy Creek Target within the Providence Project.

Fosterville South intersected high-grade Gold in its reverse circulation drill programme at Thompson Reef that forms part of the Reedy Creek Target, Providence Project.

Reverse circulation drill hole TRC02 encountered 2 m at 174.42 g/t Au from 23 m, including 1 m at 348 g/t Au from 24 m. Four reverse circulation holes (TRC01 to 04) were drilled over a strike length of 130 m.

To the northwest of the high-grade discovery hole at Weineroider Ridge, also at Reedy Creek, the Prince of Wales Reef was reverse circulation drilled over a strike length of 300 m in six holes:

  • Drillhole PWR01 returned 6 m at 2.98 g/t Au from 53 m, including 2 m at 7.58 g/t Au.
  • Drillhole PWR02 returned 1 m at 19.5 g/t Au from 22 m prior to intersecting a 9 m (downhole width) stope.
  • Reverse circulation hole PWR04 returned 3 m at 4.81 g/t Au from 12 m and 6 m at 1.51 g/t from 51 m.
  • Drillhole PWR06 was abandoned in mineralisation due to drilling difficulties.

The Prince of Wales Reef is a fault zone composed of brecciated sediments which was historically mined up to 10 n wide in shallow open cut operations. Drilling to date has shown parallel zones of mineralisation occur within an overall package of up to 20 n wide.

Diamond and reverse circulation drilling continue to focus expanding mineralisation near the discovery hole RWR13 (11 m at 31.34 g/t Au including 4 m at 80.05 g/t Au from 68 m) and the recently announced high-grade intercept from diamond drill hole RWD01 (0.7 m at 238.1 g/t Au from 68.7 m and 0.8 m at 22.5 g/t Au from 40.8 m) at Weineroider Ridge.

Fosterville South COO and Director, Rex Motton, stated: “Fosterville South continues to operate multiple drill rigs on different projects within the large 4000 km2 land package we have assembled over a multi-year period. After extensive fieldwork to identify priority targets, the reconnaissance drilling to date has further assisted in prioritising our target database. Assay results from several high priority areas are now pending. The Reedy Creek goldfield, described in today’s news, is now yielding high grade intercepts at a number of prospects with more targets yet to be drilled. As an example, the Doyle’s/Langridge prospect was the largest high-grade producer and is slated for near term drilling. The entire field is looking very promising.”

In addition to Reedy Creek, Providence Project, assays from drilling on multiple other prospects are currently pending and drilling is ongoing. Drilling at the Doyle’s-Langridge prospect, which forms part of the Reedy Creek Target, Providence Project, will begin as soon as possible now that all drill permits are approved.

Read the article online at: https://www.globalminingreview.com/exploration-development/29042022/fosterville-south-reports-reedy-creek-assay-results/

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Australian mining news Gold mining news