Fosterville South Exploration Ltd. reported that new drilling at the Homeward Bound and Bon Accord prospect at the Beechworth Gold Project in Victoria, Australia has returned strong gold grades. Additional assays are pending from drilling at high priority gold targets at Reedy Creek. Fosterville South received strong gold assays beneath its initial discovery diamond drill hole, HBDH001, that intersected 8.6m at 5.22 g/t Gold from 194.6m, including 3.6m at 10.72 g/t Gold from 196.8m at the Homeward Bound prospect located at Hillsborough within the Beechworth Gold Project.

A second diamond drill hole, HBDH002, intersected two separate zones with strong gold mineralization of 3.15m of 3.38 g/t Gold from 269.5m and 4.4m of 2.51 g/t Gold from 256.6m along with another three supporting gold mineralized zones totalling 29.7m within an overall envelope of 56.6m downhole length. A detailed reverse circulation drilling program was instigated to determine the extent of gold mineralization associated with the old workings following the encouragement received from the initial discovery diamond hole. In particular, reverse circulation drill hole HBRC21 encountered 8m at 3.66 g/t Gold from 202m, including 3m at 8.83 g/t Gold from 207m and expanded the strike length of gold discoveries from the diamond drill holes to the north.

Other significant results were 1m at 8.58 g/t Gold from 105m in HBRC01, 1m at 11.20 g/t Gold from 134m and 1m at 10.95 g/t Gold from 150m in HBRC02 and 1m at 7.26g/t Gold from 50m in HBRC09. The main Homeward Bound reef strikes 023 degrees and dips west at -75 degrees.