Download this EXCLUSIVE report from ValueTheMarkets to discover why Fosterville South () is among the world’s hottest, high-grade gold exploration plays.
A spectacular underground gold rush is underway in the Australian state of Victoria.
It began just five years ago with the discovery of vast seams of high-grade gold at the Fosterville Gold Mine.
Thanks to significant advances in drilling technology and subterranean surveying techniques, mining companies can now access previously untapped, large-scale deposits of high-grade gold.
For gold exploration firms, this is an extremely exciting new frontier.
The official Geological Survey of Victoria has even gone on-the-record to say it believes that at least 75,000,000 ounces of the precious metal are now waiting to be discovered across the state.
To put this into context, 88,000,000 ounces of gold have been mined in Victoria in the last 170 years.
At current spot prices, those undiscovered ounces would be worth a staggering $127,500,000,000.
With such great potential, it is no wonder the region is attracting so much international investor interest.
After all, the results at Fosterville have been stunning.
By the end of 2019, the mine’s owner, ) (NYSE:KL), reported high-grade gold reserves of 2 million ounces with an additional 1.7 million inferred ounces at the site.(
Better yet, between 2017 and 2019, the company mined 1.2 million ounces at Fosterville for a cost of just $315 an ounce, and an incredible average grade of 30.6 grams a tonne!
The Fosterville Gold Mine comfortably leads the pack when it comes to the world’s highest-grade, lowest-cost mining operations.
With such phenomenal success, it is no surprise that Kirkland Lake’s share price shot up over 27 TIMES, from C$2.20 in July 2015 to more than C$60 by the end of last year.
This has transformed the miner into a C$15 billion firm.
Now, with so much more high-grade gold potential remaining in Victoria, which company might be the next to experience such meteoric growth?
Read this SPECIAL REPORT from ValueTheMarkets to learn the fascinating backstory to the incredible opportunity at Fosterville South ()
Lauriston directly borders the Fosterville Gold mine, and the indications are that it shares the same geological features.
“Victoria has hardly scratched the surface when it comes to exploring these newly identified, high-grade underground gold zones.
There has been a lot of exploration done at Ballarat and Bendigo as they are very big goldfields, but when you look in a regional sense, there are very few deep drill holes.
Even on our ground in Lauriston, which sits directly adjacent to the Fosterville Gold Mine, there are only about a dozen reverse circulation holes and half a dozen diamond holes
None of these have gone deeper than about 200m in terms of drilling. For an area that is 600km2 in size that is minuscule. With such high-grade, near-surface historic production here, that is extremely surprising, but it also opens up an incredible opportunity for Fosterville South.)
To learn exactly why Rex Motton is so confident about Fosterville South () and how he was able to secure such a large area of prime high-grade gold exploration land DOWNLOAD THIS EXCLUSIVE REPORT from ValueTheMarkets.
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Author: Daniel Flynn
The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.
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MiningMaven Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.
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