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Fosterville South Exploration Ltd has announced that it has commenced drilling at its Lauriston Gold project, located in Victoria, Australia.
Highlights
600 km
2 project with excellent structural setting and significant historic high-grade gold production reported despite lack of modern exploration and drilling.
Initially a 2-drill rig programme.
Lauriston is an epizonal gold-antimony-arsenic mineralised project, which has the best potential to be the southern extension of the Fosterfield Goldfield Belt, outside of Kirkland Lake Gold’s tenements. The Redesdale, Whitelaw and Taradale Faults intersect Lauriston, although some areas are masked by a thin younger basalt cover, leaving these particular areas on the property never explored.
Australia
Fosterville
Victoria
Redesdale
Taradale
Fosterville-south-exploration-ltd
Lauriston-gold
Kirkland-lake-gold
Fosterville-mine
Fosterfield-goldfield-belt
Taradale-faults
1. Introduction
After exploring and evaluating their Kootenay Arc-based zinc and gold projects in 2017 and 2018, results were disappointing for?Cassiar Gold Corp.\-\-s (GLDC:TSX.V; CGLCF:OTCQB)?predecessor Margaux Resources, and didn\-\-t justify the spending of much more precious cash in a lackluster market. As zinc prices dropped off, Margaux seemed to have missed out on the zinc spike every zinc junior was chasing, and management decided to focus on gold, although the yellow metal dropped off as well at the time. This lasted until the summer of 2019.
With gold recovering, it looked like management placed their gold bets correctly. After raising CA$1.1M in cash in December 2018, the company went after gold assets that were more de-risked compared to, for example, the fully owned early-stage exploration Sheep Creek and Bayonne projects, and dropped the base metal projects.
Australia
United-kingdom
Uzbekistan
Hemlo
Ontario
Canada
China
Cordillera
Canada-general
Fosterville
Victoria
Red-lake