Fosterville

The Fosterville Project at Bendigo in Central Victoria has been acquired by Crocodile Gold Corporation from Au Rico Gold, who had previously purchased it from Northgate. All Canada based gold mining companies. The Crocodile Gold acquisition has given the old mine a new lease on life with the latest production figures for the second quarter of 2013 showing it had produced 197,769 tonnes of ore for the quarter that produced an average grade of 4.32 grams of gold a tonne. This resulted in a gold production of 23,470 ounces being retrieved, at the same time mine development kept up its average growth rate of 597 metres a month.

Gold was Discovered at Fosterville in 1894
Gold was first found to exist in the Fosterville area of Bendigo as far back as 1894. It was mined for near surface oxide gold until 1903, during which time it produced 28,000 ounces. A small amount of tailing re-treatment took place in the area during the 1930's but it otherwise remained dormant until 1988 when gold re-processing from existing tailings was undertaken on a larger scale. This activity was short lived and only last for 12 months.

Fosterville Project has Experienced Many ups and Downs
The Fosterville Project leases were obtained by Brunswick mining company in 1991 who immediately began an exploration program combined with heap leaching ore that was mined from shallow open pits. Brunswick was unfortunately placed into receivership after about six months. The troubled mine was then acquired from the receivers by Perseverance who continued the operation and produced around 25,000 to 35,000 ounces of gold a year until it too ceased mining at Fosterville in 2001.

Perseverance Began Developing the Sulphide Resource That Turned the Fosterville Project Around
Perseverance was significantly refinanced in 2001, a move that resulted in it being able to develop a gold sulphide resource at the Fosterville Project. A feasibility study was also undertaken at that time to look into developing an underground mine at the site to compliment open pit mining. A processing plant able to handle 0.8 million tonnes a year of sulphide gold bearing ore was completed in 2003. This allowed commercial production of sulphide hosted gold to start in 2005 and by the end of that year it had produced 580,643 ounces of gold.

Successful Underground Mining at the Fosterville Project
Underground mining development at the Fosterville Project began in March 2006 and first production results started showing by September the same year. The Fosterville Project produced its 500,000th ounce of sulphide gold in April 2011.
Since the Fosterville Project underground decline was commenced in 2006 development and stoping has been undertaken at the; Robin, Harrier, Vulture, Raven and Phoenix deposits. All these ore deposits except Phoenix extract ore by using open stoping technology with CRF (cemented rock fill) where considered necessary. The phoenix ore body is mined by means of underhand open stoping with chain and rib pillars.

The machinery used at the Fosterville Project underground operation include the usual fleet of trucks, loaders, production drills, jumbos and ancillary equipment. The mine is operated by Crocodile Gold Corporation although mining contractor Macmahon supplies all the mine's cable- bolting requirements.
†