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Southern Gold confirms high-grade gold and silver at Deokon project in South Korea

The high-grade channel sampling results will be used to delineate diamond drill targets.

Deakon is in the central-southwest of South Korea

Southern Gold Ltd (ASX:SAU) has confirmed high-grade gold and silver in the first phase of systematic underground channel sampling at its Deokon Gold Project in South Korea.

A total of 79 samples were taken across 22 sample lines from two historical drives on the lower level of the historic Shin adit gold-silver mine.

Highlighted sample results include: 0.35 metres at 12.6 g/t gold and 509 g/t silver; 0.25 metres at 12.3 g/t gold and 1,290 g/t silver; and 0.4 metres at 9.26 g/t gold and 1,165 g/t silver.

Results confirm geological interpretation

Southern Gold managing director Simon Mitchell said Deokon had the potential to advance quickly as the company had obtained site access, began field work and reported results all in 6 weeks.

He said: “While much more work remains to be done, planning has commenced on drilling proposals with the focus on using suitable drilling equipment capable of drilling within the historical underground workings.

“The Shin adit at Deokon is a very small part of a much larger mineralised system but these high-grade results have clearly replicated the tenor of historical results.

“[This] which bodes well for confirming additional high-grade gold and silver across the project area.”

READ: Southern Gold’s development partner confident of first Gubong gold pour in 2019

The Shin adit mine was historically worked between 1958-80, with the latest phase occurring between 1997-2010.

No historical figures are available for the historical mining which appears to have occurred on two vein-lode zones over 75 vertical metres and 60 horizontal metres.

Mineralisation has not been tested at depth and inadequately tested along strike.

While the completed sampling program did not extend the strike length beyond what has been historically defined, the company believes that the high-grade mineralisation plunges steeply into the floor and back up into the roof of the drives.

The results together with detailed geological mapping will inform an underground diamond drilling program to test down-dip and along-strike extensions.

Quick facts: Southern Gold Limited

Price: 0.17 AUD

Market: ASX
Market Cap: $15.02 m

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on 23/11/19

2 min read