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Great Southern Mining hits 5.65 metres at 80 g/t in first Cox's Find diamond drilling

Published: 11:27 29 Jul 2020 AEST

Great Southern Mining Ltd - Great Southern Mining hits 5.65 metres at 80 g/t in first Cox's Find diamond drilling
The bonanza-grade intersection from 160.5 metres included 1.1 metres at 404 g/t

Great Southern Mining Ltd (ASX:GSN) has hit 5.65 metres at 80 g/t gold from 160.5 metres including 1.1 metres at 404 g/t in its first diamond drilling at the Cox’s Find Gold Project in the Laverton district of Western Australia.

Chief operating officer Mark Major said: “This is a very exciting result and demonstrates the extremely high-grade nature of this deposit.

“In fact, it’s the highest-grade intersection recorded in any drill data at Cox’s Find to date and it has come from Great Southern’s first diamond program.”

Shares higher

Shares are 13% higher to 18 cents, up from 9.9 cents at the close on June 26.

The bonanza intersection correlates to visible gold detected in preliminary investigations of the drill core and reaffirms the high-grade nature of the Cox’s Find deposit.

It also correlates to the geological model and is interpreted to be the main lode extension that produced about 77,000 ounces of gold at a reported head grade of around 22 g/t from previous vein stope operations.

Historic workings

Diamond hole 20CFRCD004 was drilled down plunge from the known historic Cox’s Find workings and was designed to intersect an area of high-grade mineralisation identified from a late-2019 drill campaign.

This zone previously intersected multiple high-grade intersections including:

  • 5 metres at 14.54 g/t from 140 metres, including 2 metres at 28.85 g/t;
  • 5 metres at 31.23 g/t from 134 metres, including 1-metre at 143 g/t; and
  • 2 metres at 36 g/t from 146 metres, including 1-metre at 68 g/t.

Five-hole program

Diamond core from hole 20CFRCD004, which was part of a five-hole diamond tail program, has been logged and analysed.

HQ diamond core of 20CFRCD004 highlighting the interpreted Cox’s Find main Lode and the bonanza core intercept of 1.1 metres at 404 g/t from 164.6 metres.

Within this hole, the interpreted Cox’s Find main lode was intersected starting around 155 metres downhole with pervasive quartz veining observed for 16 metres (downhole) to 171 metres.

Visible gold

Visible gold was observed between 164.6 to 165.7 metres within a multi-phased quartz vein host.

The diamond drilling program was designed to build on the understanding of the structural orientation of the high-grade mineralisation to give insight to the structural constraints of the mineralisation.

High-grade mineralisation is interpreted to occur at the intersection of the southeast plunging main lode and the Cox’s Find shear zone.

Processing of the remaining four diamond holes is underway and structural measurements of the Cox’s Find shear zone will be a focus.

The structural data will be utilised for interpretation and to generate a 3D structural model that will aid future exploration drilling.

Assay results for the remaining diamond holes are still outstanding.

Mineralisation identified within the drill holes is along strike of the main lode, potentially increasing its mineralised footprint.

“Validates our view”

Major said: “This now validates our view that this deposit has an extremely high-grade component to it which requires the application of modern-day exploration techniques to define its extent.

“We are getting a good indication that the mineralisation is persistent at depth and along strike.

“The focus now is to trace the high-grade component down plunge along strike to expand the deposit. If we are successful in this next phase, then the full extent of this asset will start to become evident.”

Reverse circulation results

In conjunction with the diamond drilling, a 32-hole reverse circulation (RC) drill campaign specifically around the Cox’s Find deposit totalling 5618 metres has been completed.

Results have been received and assessed for the first six RC holes of the program representing 1066 metres.

Highlights include:

  • 3 metres at 3.6 g/t from 165 metres, including 1-metre at 7.61 g/t;
  • 1-metre at 1.2 g/t from 185 metres; and
  • 1-metre at 1.0 g/t from 156 metres.

The mineralisation is of particular interest as it is interpreted to be along strike from the main lode which was the focus of the historical mining.

It is also one of the north-easternmost outlying holes, drilled along strike of the main lode and some 50 metres from any historical working.

Assay results are still pending for the remaining drill program.

Cox’s Find is along strike from and within 12 kilometres of Regis Resources Limited’s (ASX:RRL) multi-million-ounce Garden Well.

The mine was operated by Western Mining Corporation for a short period between 1937 and 1942.

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