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Southern Gold Limited

Southern Gold defines major epithermal gold target at South Korean project

Beopseongpo is a highly prospective low-sulphidation epithermal gold-silver vein and vein breccia target with substantial scale.

Sample from project
Polyphasal hydraulic vein breccia intersected at the Golden Palm vein corridor

Southern Gold Limited (ASX:SAU) has defined a substantial epithermal gold target over a 5.7 square kilometre area at the Beopseongpo Gold Project in South Korea.

Recent fieldwork has identified five major veined zones with width in excess of 20 metres and combined strike length in excess of 2,570 metres.

All five vein zones - Golden Palm, Lotus North and South, Hand of Faith, Phoenix and Enigma - returned weak to moderate anomalous gold and silver values with peaks of 31.9 g/t gold and 23.5 g/t silver.

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The recent program consisted of geo-structural, mineralisation and alteration mapping over two granted graticules – Beopseongpo 29 and 30.

Location of the Beopseongpo project.

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Southern Gold managing director Simon Mitchell said the company’s technical team was very excited by the prospectivity of the Beopseongpo project.

“It ticks a lot of the key technical boxes and represents an opportunity to discover a gold system of significant scale,” he said.

“While the surface gold results are relatively low grade this is what we expected from a system at this high level of exposure.

“If our technical model is correct, the main mineralised system is likely 100 metres below surface and given the textural and alteration evidence we have uncovered so far, there is a very good chance we will find very high-grade gold mineralisation.”

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Mitchell added: “In terms of the company strategy we are in the process of selling our Australian assets and focusing on our very high-quality opportunities in South Korea.

“An important component of this is the joint venture with Bluebird Merchant Ventures (BMV) on the Kochang and Gubong projects where BMV are the operators.

“This leaves our Southern Gold technical team to focus on the evolving and very exciting exploration play in southwest South Korea where we have uncovered several projects with epithermal gold-silver mineralisation.

“Beopseongpo, while a technically driven opportunity, represents one of the better targets in the Southern Gold portfolio.”

 

 

The quality of the project is based on a comparison to others of its type observed globally which typically have the following features:

  • Well developed and persistent fault structures that are active over long time periods and displaying evidence of dilation and multiple fluid flow events;
  • A rock sequence that is amenable to the focusing of metal-bearing fluid flow into substantial veined zones over considerable strike lengths;
  • The demonstratable presence of a precious metal bearing fluid source that shows evidence of boiling; and
  • Limited erosion of the system which preserves the main zone of precious metal deposition below the present-day land surface.

 

The most recent phase of sampling included 208 float, subcrop and outcrop samples of largely vein breccia with gold tenor around 1 g/t gold considered highly anomalous for this level of exposure.

The Beopseongpo target will be drilled shortly with results expected in the next quarter.

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Southern Gold Limited (ASX: SAU) managing director Simon Mitchell updates Proactive Investors on a gold-silver discovery in South Korea that has returned ‘bonanza’ grade results. The outcrop and float assays are from the project’s April–June 2019 field program, with assays returning a...

on 18/7/19

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