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Southern Gold maiden drilling at Aphae in South Korea returns triple figure gold and silver grades

The maiden diamond drill program tested down-dip and along strike extensions to the historically mined small-scale open pit and underground operation.

Southern Gold Limited - Southern Gold maiden drill program at Aphae Project returns high-grade gold
The company is continuing an aggressive drilling program across its South Korean projects

Southern Gold Limited (ASX:SAU) has received highly encouraging gold and silver results from a maiden diamond drill program at its Aphae Project in South Korea.

A total of 720.46 metres across four holes were drilled, with high to moderate-grade gold-silver intersections received, including 0.21 metres at 107.5 g/t gold and 166 g/t silver, 0.17 metres at 15.9 g/t gold and 23.7 g/t silver, and 0.86 metres at 5.49 g/t gold and 59 g/t silver.

Other results included 1-metre at 5.07 g/t gold and 13.8 g/t silver, and 0.18 metres at 5.92 g/t gold and 99 g/t silver.

Broad near-surface gold mineralised breccia was also intersected, including:

  • 8.12 metres at 1.26 g/t gold and 7.8 g/t silver; and
  • 40.72 metres at 0.59 g/t gold and 14.1 g/t silver.

“Triple figure gold grades”

Southern Gold managing director Simon Mitchell said: “There is a lot going on geologically at Aphae and triple figure gold grades in drill core from a maiden greenfields drill program certainly grab your attention.

“With high-grade gold and silver, elevated lead, zinc, copper and arsenic, and the fact we appear to have several phases of mineralisation indicate a fertile system, potentially with more surprises to come.

“Our technical team see a lot of potential at Aphae and it reinforces the theory that south-western South Korea is an unfolding gold camp of regional scale.”

Plan view of Aphae Pit maiden drill program completed.

Looking forwards

Petrology on selected samples of the drill core is being completed to try to definitively characterise the deposit model and assist future targeting on the project.

Additionally, follow-up drilling and ground magnetic survey work is being planned to target extensions with the company confident of large project-scale prospectivity.

Mitchell said: “Now we have a lot of follow up work to do on the ground as the wider Aphae project area has not been systematically traversed or sampled and we believe there could be potential beyond the immediate mine workings.

“This, combined with the geophysics and petrology planned, should give us several targets within the Aphae project area.

“One thing is for sure: we will be back at Aphae drilling the second round as soon as we can.”

Aphae drilling will be completed along strike to the north and possibly at depth after the rice paddies are harvested in about October.

Quick facts: Southern Gold Limited

Price: 0.12 AUD

Market: ASX
Market Cap: $19.2 m

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