Right place at the right time.... “The coup of the decade!”
Bryan Slucharsuck: The Fosterville South Exploration (FSXLF:OTC, FSX:TSXV) news that just was just released is very big deal but won’t be understood by the market for a few days in my opinion.
This came together extremely quickly. While some might call it an incredible stroke of luck as to how this transpired, we are calling it an instance of “preparation meeting opportunity”.
Walhalla is a famous goldfield in Australia. The production numbers speak for themselves and in the late 1800s and in the first 10 years or so in the 1900s, total recorded hard gold production from the project was 1,510,309 ounces of gold at a recovered grade of 33.59 g/t gold according to Geovic, the government agency. This significant production of high-grade gold was accomplished despite very limited exploration and very little drilling.
Cohens Reef (where the majority of production on our property came from) is open at depth according to mine records. There are also dozens of completely undrilled high priority exploration targets which we believe are prospective for repeating structures.
The story as to how we acquired this famous project is quite amazing.
Rex Motton, our Chief Operating Officer and co-founder, has spent decades in this mining region. As a teenager, he roamed around the gold belt prospecting and even today, his home is just a short drive to Kirkland Lake Gold’s Fosterville Mine. He developed a very unique database on production and exploration in Victoria, Australia during the 1980s and maintains it to this day.
Rex has been working on staking pieces of ground that are potential strategic fits to our current holdings, which are in the same state. As such, he and our Chairman James Hutton are conversing every evening and going through available land on the government sites as to evaluate fit with our already large land holdings. Recently, they were online and to Rex’s amazement – Walhalla was showing as open. This startled the guys as this is such a premier package and hours prior there was no mention of it on the government site. Rex being online at that time was a spectacular case of being in the right place at the right time and most importantly being one of the few people that when the tenement numbers and descriptions popped up online – HE KNEW EXACTLY WHAT HE WAS LOOKING AT…..IT WAS WALHALLA!
The right place at the right time and knowing exactly what he was looking at because of decades of experience in the district, knowing every tenement number and what it meant in relation to ground.
After a bunch of verification work and making sure this wasn’t ‘too good to be true”, ie….. that we actually got the Wahalla Gold Belt tied up, we just put out the news.
The News Release today has a lot of technical information (which should be read) and background but I wanted you to get you some of the backstory. One of our very key technical team members called this “the coup of the decade”. My job is to make sure, over the coming week, that people understand how important this is. The word is starting to get out and the amount of incoming calls from Australian investors, who know Walhalla, has been exceptional.
Fosterville South has a very strong cash position, we have some of the world’s top mining entrepreneurs as investors and have assembled an amazing land package and have a great team. It’s an exciting time to be a Fosterville South shareholder. Fosterville South, symbol FSX in Canada and FSXLF in the US.