Recent drilling suggests Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF) – aka Fosterville 2.0 -- could be another huge win for Australia’s legendary Lachland Fold Gold Belt.
Gold investors looking for fast profits know that timing is everything. This was seen recently with Kirkland Lake’s purchase of the Fosterville Mine in Australia’s legendary Lachland Fold Gold Belt.
The Fosterville Mine began in 2005 but it was only in 2016-2017, when diamond drilling produced a resource estimate in the millions1 of tons, that the new owners realized they were literally sitting on a gold mine.
Now the Largest Gold Producer in Victoria
Today, Fosterville is the largest gold producer in Victoria, Australia, yielding 619,3662 ounces in 2019 and 640,4673 ounces in 2020.
And that’s just recent production: Estimates of current gold reserves are in excess of 2 million4 ounces.
The mine is one reason why Kirkland Lake’s shares skyrocketed from $1.73 a share in 2015 to as high as $545 in 2020 – a gain of up to 3,021%6.
Now, investors worldwide are eying the latest newcomer in the area, Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF)
, a spinoff of Fosterville South Exploration.
Anticipation is high as Leviathan recently deployed a second diamond drilling rig at its Avoca Project.
Enormous Profits in Just a Few Months
The company from which Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF) is a spinoff, Fosterville South, caught investors’ attention in 2020 when its shares jumped from 87 cents7 to $4.228 per share9 – a gain of 385%10 in just a few months – before the whole industry pulled back at the end of 2020.
Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF)‘s Avoca and Timor projects are proven producers of gold, having been mined back in the late 19th century and early 1900s, reportedly producing 1.3 million11 ounces of gold.
However, the methods used a century ago were primitive, largely confined to extraction of shallow, near-surface and visible deposits from ancient river beds.
Incredibly, no systemic, modern exploration of the projects has been carried out until Leviathan Gold arrived on the scene with an array of state-of-the-art geophysical and drilling techniques.
All told there are 3012 quartz reef targets already identified just on the Avoca property. Only one, the Surprise Reef, has ever seen any drilling.
Leviathan Gold has identified 30 quartz reef targets on the Avoca property alone, only one of which has ever seen any drilling:
- PYRENEES REEF: 16,199 tons mined for 16,602 ounces of gold to 130 meters at an average recovered grade of 32 g/t gold, worked intermittently from 1860 to 1912.13
- EXCELSIOR REEF: 13,200 tons mined for 9,260 ounces of gold to 100 meters at an average recovered grade of 22 g/t gold, worked from 1909 to 1915.14
- VALE’S REEF: 1,444 tons mined for 1,388 ounces of gold to 52 meters at an average recovered grade of 29.4 g/t gold, worked from 1865 to 1883.
- MONTE CRIOSTO REEF: 2,795 tons mined** for 937 ounces of gold to 30 meters at an average recovered grade of 10.3 g/t gold, worked from 1872 to 1877.
Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF)’s nearby Timor Project consists of two high priority targets:
- The Leviathan Group, a large group of historical mines that produced 189,054 tons – or 56,474 ounces – at an average recovered grade of 9.14 grams of gold per ton.
- Shaw’s Reef, which produced 16,881 tons and 12,623 ounces to a depth of 130 meters with an average recovered grade of 22.9 grams of gold per ton.
What’s clear is that this part of Australia is one of the richest gold-producing areas in the entire world. Australia is the world’s 3rd largest gold producer today (over 300 tonnes per year), just behind #2 producer, Russia.
Historically, it’s produced in excess of 2,500 tonnes of gold – or more than 80 million15 ounces.
This includes the largest gold nugget ever discovered, the 3,123-ounce nugget known as the Welcome Stranger, uncovered in 1869.
It also includes the two fist-sized nuggets discovered in 2020 by two miners, Brent Shannon and Ethan West, estimated to be worth $250,000.
With mining stocks, there are no sure bets, but LVX offers investors strong odds. For more information on Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF) and what’s happening in Australia’s Golden Triangle, clink on the link below:
Learn More About Leviathan Gold (TSX.V: LVX)
Learn More About Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF) at your brokerage today!
Learn More About Leviathan Gold Ltd. (TSXV:LVX, OTC:LVXFFTSXV:LVX, OTC:LVXFF) at your brokerage today!
1“Soon David’s thoughts turned to proper mining at Fosterville. Exploration by percussion and later diamond drilling produced a resource estimate of 3.5 Mt at 2.3 g/t of material suited to open pit mining and heap leaching. AMC was engaged to prepare a feasibility study for the project.”” https://amcconsultants.com/experience/kirkland-lake-fosterville-gold-mine/
2https://www.kl.gold/our-business/australia/fosterville-mine/default.aspx
3https://www.kl.gold/our-business/australia/fosterville-mine/default.aspx
4https://dynamicwealthresearch.com/news/leviathan-gold-goes-public-with-exciting-high-grade-gold-opportunity
5Jul 31, 2020 52.02 54.74 51.80 54.60 54.21 https://finance.yahoo.com/quote/KL/history?p=KL
6https://percentagecalculator.net/
7Converted from CAD $1.10. See https://www.xe.com/currencyconverter/convert/?Amount=5.35&From=CAD&To=USD
8Converted from CAD $5.35. See https://www.xe.com/currencyconverter/convert/?Amount=5.35&From=CAD&To=USD
9Figures provided in: https://www.newswire.ca/news-releases/leviathan-gold-to-commence-drilling-with-a-second-rig-at-its-newly-acquired-avoca-and-timor-projects-871254990.html
10https://percentagecalculator.net/
11https://www.newswire.ca/news-releases/leviathan-gold-to-commence-drilling-with-a-second-rig-at-its-newly-acquired-avoca-and-timor-projects-871254990.html
12From PDF, “DWR_Leviathan_InvestorReport_6”
13Ibid.
14Ibid, etc.
15https://www.newswire.ca/news-releases/leviathan-gold-to-commence-drilling-with-a-second-rig-at-its-newly-acquired-avoca-and-timor-projects-871254990.html
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FORWARD LOOKING INFORMATION
This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Leviathan Gold Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Leviathan Gold Ltd.’s industry; (b) market opportunity; (c) Leviathan Gold Ltd.’s business plans and strategies; (d) services that Leviathan Gold Ltd. intends to offer; (e) Leviathan Gold Ltd.’s milestone projections and targets; (f) Leviathan Gold Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) Leviathan Gold Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Leviathan Gold Ltd.’s expectations with regarding its ability to deliver shareholder value.
Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Leviathan Gold Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Leviathan Gold Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Leviathan Gold Ltd.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of COVID-19.
Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Leviathan Gold Ltd.to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Leviathan Gold Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Leviathan Gold Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Leviathan Gold Ltd.’s business operations (e) Leviathan Gold Ltd.may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, Leviathan Gold Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Leviathan Gold Ltd.nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Leviathan Gold Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
Historical Information
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