Southern Gold Ltd (ASX:SAU) non-executive chairman Gregory Boulton has demonstrated his faith in the company’s South Korean gold-silver exploration strategy with the purchase of shares in an on-market transaction.
Boulton acquired 100,000 shares on February 3 at 10 cents each in an indirect interest, increasing the number of securities held in that interest to more than 3.57 million.
South Korean 2021 drilling program
The company is going all-in on its unique one-country mining strategy, with drilling for gold and silver ongoing at seven projects across South Korea.
SAU’s focus is to discover high-grade gold and silver deposits in South Korea, deploying a team of local Koreans targeting epithermal gold-silver – precious metals formed from hydrothermal fluids at shallow levels in the Earth’s crust.
It is actively exploring seven projects in South Korea, all well south of Seoul: Aphae, Weolyu, Deokon, Beopseongpo, Hampyeong, Dokcheon and Neungj.
On top of these, it has also made three new discoveries - Janghwal, Geum Mar and Daeam Valley - with initial assessments revealing that all three hold significant potential ahead of scout drilling to be undertaken in the first half of this year.