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Great Southern Mining shares jump after drilling visible gold at Cox’s Find Project

Processing of the diamond core is underway, and the first core is expected to be cut and sent for assay within the week.

Great Southern Mining Ltd - Great Southern Mining shares jump after drilling visible gold at Cox’s Find project
Great Southern shares are trading 16% higher intra-day at 14 cents

Great Southern Mining Ltd (ASX:GSN) has confirmed the occurrence of visible gold-bearing mineralisation in diamond drill core from its Cox’s Find Gold Project in WA.

Hole 20CFRCD0004 was drilled immediately down plunge from the known historical Cox’s Find workings and was designed to intersect an area of known high-grade mineralisation that has previously been identified from the recent 2019 December drill campaign.

Visible gold observed in hole 20CFRCD0004 at about 164.5 metres

GSN chief operating officer Mark Major said: “This is a very exciting time for the company - seeing multiple occurrences of visible gold in drill core is always a good sign.

“I’ve personally driven up to site to inspect the core.

“This is the first diamond core that has been drilled through the mineralised sequence and gives an invaluable insight to the geological setting and the potential existance of high-grade mineralisation.

“The geological team are processing the core now, to get as much information as possible from the core in order to understand the structural orientation of the mineralisation and to unlock the geological model to aid future drill campaigns.”

Processing of diamond core underway

Two diamond drill holes have been drilled since diamond drilling commenced on June 17 2020.

Processing of the diamond core is underway, and the first core is expected to be cut and sent for assay within the week.

This is the first diamond core drilling that has ever been undertaken into the main lode of Cox’s Find and GSN believes this current program will provide invaluable insights into the structural setting of the high-grade mineralisation and will aid in the refinement of the geological model and assist in future drill programs at Cox’s Find and for future untested targets.

Reverse circulation program

GSN has also completed about 4600 metres of reverse circulation (RC) drilling to date with 504 metres of this accounted to the pre-collar component for the diamond drill program.

This first phase of RC drilling has focused on delineating the extent of the high-grade mineralisation around the hole 20CFRCD0004 and the potential down-plunge extents of the Cox’s Find deposit.

A scout (414 metres) RC program was also completed at one of the near-mine untested geological ‘look-alike’ targets.

Assay results for all RC drilling are pending with results to be released to the market once received and interpreted.

Phase two and Mon Ami drilling

Phase two will consist of about 4000 metres of RC drilling, focusing on several other near-mine targets and following up on results from the initial phase.

Between these phases, a 2000-3000 metre drill program will be undertaken at the company’s Mon Ami Gold Project, located 12 kilometres south of Laverton, Western Australia.

This is expected to commence later this week.

Quick facts: Great Southern Mining Ltd

Price: 0.08 AUD

Market: ASX
Market Cap: $33.28 m

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