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Fosterville South Exploration Ltd. (FSX) has announced an agreement to acquire a 2166 sq. km mineral exploration land package in Papua New Guinea from Wild Dog Resources Inc. (WDR). This acquisition includes multiple Exploration Licenses (EL) and Exploration License Applications (ELA). Key highlights of the acquisition feature a contiguous 614 sq. km project adjacent to K92 Mining Inc. exploration tenements, enhancing FSX's existing gold land package in Australia. The land package presents both early and advanced stage exploration targets, with a focus on high-grade epithermal vein and porphyry style mineralization. FSX's strong cash position post-transaction will support advancing these assets, leveraging their team's experience in Southeast Asia. The deal is expected to increase FSX's potential for discovering Tier 1 Copper-Gold deposits in PNG.
Fosterville South Exploration Ltd. (OTCQX: FSXLF) announced overwhelming shareholder approval for all resolutions at its Annual General Meeting on November 29, 2022. Key approvals included the re-election of directors Bryan Slusarchuk, Rex Motton, Liza Gazis, Robert McMorran, Charles Hethey, and John Lewins, as well as the appointment of BDO Canada LLP as auditors. Voting results showed over 96% support for most motions, with a total of 10,559,210 common shares voted, representing 15.53% of the company's outstanding shares.
Fosterville South Exploration Ltd. announced significant results from its drilling program at the Golden Mountain prospect, part of the Tallangallook Gold Project in Victoria, Australia. The highlights include a noteworthy intercept of 77m at 1.14 g/t Gold from surface, featuring sub-intervals of 35m at 1.85 g/t Gold. Additionally, other notable assays include 14m at 2.06 g/t Gold and 5m at 3.16 g/t Gold. The project shows promising potential with a 1km gold anomaly identified. Pending assays from previous diamond drilling may further enhance these findings.
Fosterville South Exploration Ltd. (TSXV: FSX) announced promising gold assay results from its recent drilling at three projects: Comet-New Trojan, Golden Mountain, and Providence. Key findings include 13.4m at 2.08 g/t Gold from GMDH55 at Golden Mountain and 9m at 1.35 g/t Gold from CRC15 at Comet. A total of 748.6m diamond and 1248m reverse circulation drilling have been completed at Comet, while Golden Mountain's ongoing program targets deeper mineralization. Results indicate potential structural gold shoots at all sites, with further assays pending.
Fosterville South Exploration has reported significant gold grades from its drilling program at the Thompson Reef and Prince of Wales Reef within the Providence Project. Notably, drill hole TRC02 yielded 2m at 174.42 g/t Gold, including 1m at 348 g/t Gold. The results from shallow holes demonstrate strong potential for further high-grade gold discoveries. Additional assays are awaited from other high-priority targets, including Reedy Creek. The company continues its drilling efforts across a large land package in Victoria, Australia.
Fosterville South Exploration Ltd. has commenced a diamond drilling program at the Lauriston Gold Project in Victoria, Australia, focusing on the Comet and New Trojan targets. This follows initial reconnaissance work in 2021. The Lauriston project is near Kirkland Lake Gold's Fosterville Mine and covers 600 km2 with significant historic high-grade gold production. Concurrently, drilling is ongoing at Reedy Creek within the Providence Project using three drill rigs. The company aims to confirm the structural controls of gold mineralization and explore previously untested areas of Lauriston.
Fosterville South Exploration Ltd. (TSXV: FSX, OTCQX: FSXLF) has announced significant gold assay results from its Homeward Bound and Bon Accord prospects in Victoria, Australia. Key findings include 8m at 3.36 g/t gold and 3m at 8.83 g/t gold from drill hole HBRC21. Additionally, the Bon Accord discovery yielded 1m at 20.9 g/t gold. The company holds approximately $22 million in cash and plans further drilling in 2022 at Providence, Beechworth, Golden Mountain, and Lauriston projects. Assays from additional holes are pending.
