VANCOUVER, BC, June 29,
2023 /CNW/ - Fosterville South Exploration Ltd.
("Fosterville South" or the "Company") (TSXV: FSX) (OTCQX: FSXLF)
(Germany: 4TU) is pleased to
announce that the board of directors of the Company has approved a
change of the Company's name to "Great Pacific Gold Corp." (the
"Name Change"). The Name Change better reflects the Company's
portfolio of gold projects in Australia and its acquisition plans in the
Pacific region, including Papua New
Guinea.
Shareholders of the Company will not be required to exchange
their existing share certificates for new certificates bearing the
Company's new name. The name change does not affect the Company's
share structure or the rights of the Company's shareholders, and no
further action is required by existing shareholders of the Company.
The Name Change remains subject to the acceptance by the TSX
Venture Exchange.
The Company anticipates its new stock symbol will be "GPAC" and
its website, once the name change is complete, will be located at
www.greatpacificgoldcorp.com.
About Fosterville South
Fosterville South began with two, 100% owned, high-grade gold
projects called the Lauriston and Golden Mountain Projects, and has
since acquired a large area of granted and application tenements
containing further epizonal (low-temperature) high-grade gold
mineralisation called the Providence Project and a large group of
recently consolidated license tenement applications called the
Walhalla Belt Project, which contain a variety of epizonal and
intrusion related style gold mineralisation, all in the state
of Victoria, Australia. The Fosterville South land
package, assembled over a multi-year period, notably includes a 600
sq. km property immediately to the south of and within the same
geological framework that hosts Agnico Eagle's
Fosterville epizonal gold tenements. Additionally, Fosterville
South has gold-focused projects called the Moormbool and
Tallangallook, which are also located in the state
of Victoria, Australia. Moormbool project has epizonal
style gold mineralisation and Tallangallook has mesozonal and
intrusion relation gold mineralisation.
All of FSX's properties, with the possible exception of
Moormbool, have had historical gold production from hard rock
sources despite limited modern exploration and drilling.
Recently, Fosterville South entered into an agreement with Wild
Dog Resources Inc. ("WDR") to acquire a significant 2,166km²
mineral exploration land package in Papua
New Guinea (as described in FSX News Release dated
April 19, 2023).
The land package included in the acquisition comprises multiple
Exploration Licenses (EL) and Exploration License Applications
(ELA).It includes both early-stage and advanced-stage exploration
targets with high-grade epithermal vein and porphyry-style
mineralisation present.
The Arau Project consist of one EL and one ELA located in the
Kainantu region, and includes the Mt. Victor Prospect, where
previous drilling found multiple phase intrusive complexes of
copper and gold mineralisation.
The Wild Dog project contains two ELAs, EL2516 and EL2761,
located on the island of New Britain and about 50km southwest of
Rabaul and Kokopo, PNG.
The Kesar Creek Project has one ELA2711 and is located 10km west
of the Kainantu Gold Mine owned and operated by K92 Mining.
WDR has done significant work on various projects in the past
two years, generating multiple high priority drill targets.
Forward-Looking
Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Fosterville South cautions
that all forward looking statements are inherently uncertain and
that actual performance may be affected by many material factors,
many of which are beyond their respective control. Such factors
include, among other things: risks and uncertainties relating to
Fosterville South's limited operating history, its exploration and
development activities on the Lauriston, Golden Mountain,
Providence and Tallangallook
Properties and the need to comply with environmental and
governmental regulations. Accordingly, actual and future
events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, Fosterville South does not
undertake to publicly update or revise forward-looking
information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Fosterville South Exploration Ltd.