Tag: Fosterville

The next Fosterville at Fosterville

The next Fosterville at Fosterville

KIRKLAND Lake Gold has announced new, high-grade results from both its Fosterville Operation in Victoria, and Canadian-based Macassa operations. Recent surface drilling at Robins Hill, Fosterville, has confirmed an extended mineralisation down-plunge of the existing mineral resource, outside of the current resource. Key drilling results that confirmed mineralisation at depth were 3.7mat 24.5g/t gold, including 1m at 82.3g/t gold; and 8.8m at 11.7g/t gold, including 0.5m at 81.7 g/t gold. Kirkland Lake Gold chief executive Tony Makuch said that the company believed there were “more Fostervilles at Fosterville” for a long time, and that Robbin’s Hill had emerged “clearly” as a second potential mining front to provide feed to the Fosterville mill. “Based on current drilling, we have already identified…

Mining in Victoria: Regulating the gold rush

Mining in Victoria: Regulating the gold rush

WITH the gold price at an all-time high, and Victoria’s largest mine at Fosterville forecast to produce 550,000-610,000 ounces of gold in 2019, there’s been a significant resurgence in domestic and international interest in Victorian gold. In response, the Victorian state government budget 2019-20 will introduce a 2.75pc gold royalty from January 1, 2020, which will bring Victoria in line with other states and is expected to generate $56m. Small miners will be exempt but Minerals Council of Australia Victoria branch executive director James Sorahan said the tax is reckless, poorly considered and will hurt regional communities and threaten jobs in a growing industry. “Without changes, the royalty will have an unfair and significant impact on the operating costs of…

Mining in Bendigo and Ballarat: History in the making

Mining in Bendigo and Ballarat: History in the making

Image: City of Greater Bendigo BY EMMA DAVIES THE next big gold discovery in Victoria could belong to anyone. Considering historical operations, Bendigo and Ballarat are set to benefit with a hive of exploration activity currently underway by juniors, like Chalice Gold. Chalice Gold holds exploration licences over an area of more than 3000sqkm and is one of the largest junior players in the highly prospective north Bendigo zone – which hosts Kirkland Lake Gold’s Fosterville operation. The company commenced drilling at its Pyramid Hill gold project in November 2018 and is focussed on testing the top 30m of basement rock on 3km spaced drill lines, looking for gold and pathfinder elements, which even at low levels can indicate proximity…