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Great Southern Mining refining targets at four prospective tenements adjacent to Cox's Find

Snapshot

The company is enjoying exploration success with high-grade, visible gold coming from one of its first diamond holes at Cox’s Find Gold Project in Western Australia.

Great Southern Mining Ltd -

Quick facts: Great Southern Mining Ltd

Price: 0.073 AUD

ASX:GSN
Market: ASX
Market Cap: $30.37 m
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Great Southern Mining Ltd (ASX:GSN) is refining targets and planning systematic exploration at four highly prospective tenements adjacent to the 100%-owned Cox’s Find Gold Project near Laverton Western Australia.

The tenements, which were applied for in July 2020 and are progressing through the WA Mines Department’s expedited procedure with grant anticipated early in 2021, are set to undergo reverse circulation (RC) drilling in the second half of 2021 following an in-house landholding review.

If approved, an increase to Cox’s Find of 47.5 square kilometres would result, including over 12 kilometres of access to the clearly identifiable mineralised trends that host the Garden Well and Rosemont gold deposits owned and operated by Regis Resources Ltd (ASX:RRL).

Upcoming drilling

Great Southern Mining will start drilling in early December at Cox's Find for near-mine repeats of the deposit. 

The gold explorer, with significant landholding in the world-renowned districts of Laverton in WA and Mt Carlton in North Queensland, has appointed its preferred reverse circulation drilling contractor. 

“Highly prospective” tenements

Chief executive officer Sean Gregory said: “These tenement applications are considered highly prospective following a comprehensive inhouse review.

“The Erlistoun Queen trend has had no systematic deep drilling on it whatsoever, which is remarkable considering just how many deposits in the Duketon Belt are found along these conspicuous mineralised structures.

“We are also interested in what has come to light from the previous soil survey which produced kilometre-scale targets positioned undercover that have seen no follow-up exploration.

“The geological team is very keen to follow-up on these newly identified targets as soon as the tenements are granted.”

The acquisition of the substantial E38/3518 tenement in combination with three smaller tenements will provide Great Southern with a contiguous tenement package adjoining the Cox’s Find deposit and will provide new opportunities for significant new gold discoveries.

Gold targets queuing up 

Gregory added: "The drilling program seeks to expand on Cox's Find high-grade gold mineralisation at depth and test two high-priority near mine targets for possible repeats along strike.

"This is part of our broader plans across our portfolio of exploration projects where gold targets are now queuing up for drill testing." 

Considerable exploration upside

GSN recently issued 6 million shares to executive chairman John Terpu following his decision to exercise the listed options acquired under the rights Issue held in August 2019.

The early exercise of the listed options for $300,000 follows Great Southern’s highly encouraging 2020 drilling program at the Cox’s Find and Mon Ami gold projects in Western Australia.

Terpu said: “Following our 2020 drilling program at both Cox’s Find and Mon Ami, the projects still have less than 15,000 metres of drilling total.

“Add to this the recently announced prospectivity and scale of the new tenement applications adjacent to Cox’s Find and there is considerable exploration upside for the company in 2021.”

Mon Ami Project

The company completed 2,763 metres of drilling in July, which was designed along a mineralised north-northeast striking regional shear zone, targeting areas outside or on the edge of the southern extent of the resource area.

Recent RC drilling results of up to 11 metres at 7.9 g/t gold from 26 metres and 4 metres at 15.9 g/t gold will be included into the resource model while planning of the next phase of drilling is underway.

Edinburgh Park Project

During the September quarter, GSN undertook processing of hyperspectral data to assist with identifying illuminations of indicative geological alteration systems related to porphyry and Intrusive Related Gold Systems (IRGS).

Around 19 illumination targets consistent with porphyry mineralisation alteration systems were identified.

Due to the scale of the alteration zones evident in the hyperspectral data, which can extend up to around two kilometres, combined with the evidence of alteration zonation, three targets are considered to be high-priority targets and a further10 smaller scale illuminations are considered secondary targets.

The targets generated, will allow a focused field exploration program around the highly prospective systems.

Leichhardt Creek geochemical survey

GSN also completed mapping and initial geochemical survey work over a 10 square kilometre area covering the porphyry stockwork north of Beaks Mountain within the Leichhardt Creek prospect area, a prospective porphyry and IRGS system.

This geochemical mapping program is the first systematic gold-focused exploration program undertaken over these highly prospective targets, which were identified from interpretation of hyperspectral data with geological mapping and geophysics.

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