Fosterville South receives high-grade gold assays including 54 g/t Au

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Fosterville South Exploration Ltd. [TSXV: FSX, OTC: FSXLF, Germany: 4TU] reported it has received multiple high-grade gold assays, from recent sampling at the Beechworth Gold project in Victoria, Australia. Rock chip assays for 173 samples from 45 gold prospects have yielded gold grades that included 54 g/t Au.

Grid based soil sampling of 2515 samples has covered 10.5km2 of the total 22.7km2 of EL4697. All samples have been analysed by portable XRF for arsenic, antimony, and other base metals. Of these samples 1227 samples have been analysed for gold with a 1ppb detection limit. Gold assays from this soil sampling range up to 521 ppb Au (0.52 g/t Au) with most of the gold assays arriving this week.

These results have generated Au-As anomalous geochemical targets associated with old workings on approximately 20 separate subparallel structures. The soil sampling has been used as a means of focusing on the better and broader mineralised targets amongst the plethora of old workings.

Apart from the current drill program at Hillsborough on the Taff and Bon Accord Prospects, two separate LIEP (Low Impact Exploration Permit) drill permit programs are proposed consisting of 68 drill holes within 8 separate sites. First pass drilling would amount to 4200m, with provisions for using the same drill pads to drill deeper by either RC or diamond drilling during a second phase follow up.

It is targeted that the first permits for this additional drilling will arrive in mid to late July which will allow drilling to follow on from the current drill program at the Bon Accord and Taff Reefs targets at Beechworth, where permits have already been received.

The 68 drill holes planned are mainly focused on the Birthday, Perfect Cure, Von Moltke Reefs and Perseverance Reefs. The Birthday Reef is at Hillsborough and is reported to have produced 2425 tons for 1638 oz. Extensive workings occur on the lengthy structure at Perfect Cure but production records are not available.

A separate drill program is also being submitted for approximately 20 additional drill holes at various prospects due to different land status classification.


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