Fosterville South Exploration (TSX Venture: FSX, OTC: FSXLF), exploring for gold in Victoria, Australia turned heads when it commenced trading in April 2020 at a valuation of ~$45 million. As the world turned it’s attention to the rich goldfields of Australia, shares in Fosterville rallied from $1 to hit a high of $5.25 by the end of June, commanding a market capitalization of nearly $250 million.
In the last two months the multi-talented and highly driven management team at Sentinel Resources (CSE:SNL, OTC:SNLRF) has pulled together a formidable suite of worldwide projects.
On October 6th, and this looks to be the crown jewel, Sentinel acquired through staking, eight gold exploration concessions totaling 945 square kilometers in New South Wales, Australia – home to Australia’s first and famous gold rush which yielded nearly one million ounces from 1851 to 1852, using only rudimentary methods.
Sentinel’s large swath of concessions are situated atop one of NSW’s most prolific and productive gold trends and feature at least 198 historic gold mines.
Every one of Sentinel Resources projects carry the potential to create significant shareholder wealth.
Combined under one roof, with a high profile, highly skilled technical team guiding exploration and development strategy, we have a recipe for what seems to be turning into a global exploration powerhouse.
Can they pull off a Fosterville South-style rally? The company is not wasting any time and plan on having a highly experienced field crew on the ground in Australia next month.
Amazingly Sentinel Resources (CSE:SNL, OTC:SNLRF) market capitalization is still well under $20 million.
Be sure to visit their website, join their mailing list and glue Sentinel Resources to your watch list as this story could get very hot, very quick.
We recap the Company’s highly impressive roster of projects below.
GOLD CONCESSIONS, NEW SOUTH WALES, AUSTRALIA
94,500 Hectares ( 945 sq. km), 8 concessions.
- At least 198 historic gold mines and gold exploration prospects are present across the Gold Projects. Historic production records indicate that gold grades were often multi-ounce (see News South Wales Department of Planning, Industry and Environment).
- The licences are strategically located within the prolifically mineralized Lachlan and New England orogenic terranes.
- Sentinel applied to the Manager of Minerals Titles, New South Wales Department of Mining, Exploration and Geosciences for the concessions. The concessions will be 100% owned with no royalties or back-in rights, upon completion of acquisition process. Sentinel will be required to post a refundable performance bond of AU$10,000 per concession, and spend exploration and associated expenses on each concession of AU$ 25,000 in Year One and AU$50,000 in Year Two.
- Sentinel has engaged a highly experienced exploration team to commence a reconnaissance work program on high-grade historic mines and showings in November 2020. The focus is to identify high-grade drill ready targets.
SALAMA GOLD PROJECT, PERU
- Potential for high and low sulphidation epithermal gold mineralization and breccia pipe stockwork-style gold-silver deposits;
- Situated within the prolific gold-polymetallic Miocene skarn and porphyry belt — one of several coast-parallel metallogenic belts that host the larger and more significant deposits of Peru. This includes Lagunas Norte gold mine, Rasario De Belen gold mine, La Arena gold mine and La Virgen mine, that together host over 20 million ounces gold within a 45-kilometre radius of the Salama concessions;
- Highly experienced national and expatriate exploration team capable of carrying out exploration work on Salama gold project immediately;
- First reconnaissance visit planned for the week of Oct. 14, 2020. First-pass mapping and sampling will concentrate on areas of alteration hosting quartz veins and silicified breccias. Previous work by artisanal and small-scale miners provides additional vectors to areas of higher-grade mineralization.
WATERLOO SILVER-GOLD PROJECT, SE BRITISH COLUMBIA
- Road accessible, 3,130-hectare project close to developed infrastructure
- High-grade silver and gold veins exposed over an area of approximately 4 .0 by 0.7 kilometers
- Grab samples from historic workings returned assays of 2,790 grams per tonne (g/t) silver (Waterloo) and 45.70 g/t gold (Au showing)
- The property has not been systematically drill tested and numerous untested targets are defined
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