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New Listing: Fosterville South Exploration (TSXV:FSX)

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The company has two large, 100% owned, high-grade epizonal gold projects and one large group of tenement applications in the state of Victoria, Australia.

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Additional Information:

Company: Fosterville South Exploration
Website: http://www.FostervilleSouth.com
Stock Symbol: TSXV: FSX
Date Published: Apr 17, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Fosterville South Exploration is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “FSX”.

The company has two large, 100% owned, high-grade epizonal gold projects and one large group of tenement applications in the state of Victoria, Australia.

All three properties, Lauriston, Providence and Golden Mountain have had historical gold production from hard rock sources despite limited modern exploration and drilling.

The Lauriston Gold Project is a large land holding, within the same stratigraphic and structural setting as Kirkland Lake’s adjoining Fosterville Gold Mine, which produced 619,366 ounces of gold in 2019.

The company has allocated a budget of approximately $2.1 million aimed at initial exploration of several prospects within the Lauriston tenement, with the majority of the budget dedicated to drilling during the next 12 months.

The focus of the company is to search within the property for gold deposits analogous in style and type to the Fosterville gold mine.

The company has applied for two large exploration applications covering 650 square kilometers that it calls the Providence project, which contains several recognized goldfields.

Within the Providence district, the Reedy Creek goldfield produced 63,558 tons for 48,944 ounces of gold at a grade of 23.6 grams per tonne, which is 68% of the gold produced from the whole division.

Other goldfields such as Sunday Creek, Yea and Ghin Ghin also contributed to the division’s production.

At Golden Mountain, the company has an exploration licence consisting of 136 square kilometers within the Golden Mountain area, which holds a variety of gold deposits.

The company has a budget of approximately $1.9 million dedicated to exploration work at Golden Mountain in the upcoming year, with an emphasis on drilling.

Fosterville South is well funded with more than $6 million in cash to carry out an extensive drill program on numerous high-grade gold prospects on its projects.

Fosterville South completed financing privately, supported by top institutional investors and mining professionals, and did not raise funds concurrent with this go public event.

Under the company’s last completed financing, Eric Sprott, through a private company, holds 2,500,000 shares and is one of the largest shareholders of Fosterville South.

The shares are trading at $1.12.

For more information, please visit the company’s website www.FostervilleSouth.com.

Investor Relations is handled by Adam Ross, of Highland Contact, who can be reached at 604-229-9445 or by email at info@FostervilleSouth.com.

I’m Fiona Forbes for Investmentpitch Media