Great Southern Mining Ltd (ASX:GSN) shares traded almost 17% higher intra-day after discovering three major anomalous gold-bearing geochemical signatures at the Cox’s Find Gold Project in WA.
Importantly, the results support previously identified structural targets and near-mine prospectivity of the project.
Shares were as much as 5.2 cents intra-day and are up from 3.2 cents on March 9.
Background
The Cox’s Find Gold Project is a shear hosted Archaean orogenic gold deposit in the Duketon Greenstone Belt, along strike from and within 12 kilometres of Regis Resources Limited’s (ASX:RRL) multi-million ounce Garden Well.
The objectives of the recently completed exploration program was to geochemically survey prospective terrain around the Cox’s Find deposit and identify alteration footprints associated with Cox’s Find-style orogenic gold mineralisation through similar pathfinder geochemical signature.
The results were successful in identifying a number of geochemically anomalous zones exhibiting significant associations with gold and associated key pathfinder elements, many of which correspond with prospective shear zones.
Gold in soil plot showing key structural features and defined anomalous zones
GSN executive chairman John Terpu said: “Knowing the history of this project, we are excited to be revealing more through our disciplined, staged exploration efforts.
“These results are not only encouraging but will be highly beneficial for future exploration at Cox’s Find.
“The project is advancing well considering GSN only commenced exploration in late 2019.
“We are looking for more of these high-grade systems and potentially another high-grade 22g/t Cox’s Find deposit.”
Gold in soil plot draped on a gridded lot of arsenic in soil for the same sample showing key structural features and defined anomalous gold zones
The geochemical results support significant potential for extensions to the current mineralisation at Cox’s Find and also the prospect of additional near-mine gold discoveries within ‘blind’ targets that have little to no exploration drilling to date.
These results reinforce the interpreted current structural model and controlling shear zones within the mine area.
Future exploration
GSN is continuing to build up geological, structural and mineralisation knowledge of the project area.
Following integration of all the geological/geophysical/geochemical inputs, drill programs will be designed to test a number of high priority targets.