Join our daily newsletter At The Bell to receive exclusive market insights
- Great Southern Mining (GSN) reports “exceptionally high-grade” gold 200 metres south of the known mineralisation at the Southern Star deposit in WA
- GSN undertook an extensional reverse circulation drilling program adjacent to the deposit
- The company recorded 17 metres at seven grams of gold per tonne (g/t) from 111 metres, including two metres at 56.7g/t and one metre at 109g/t gold
- Further assay results are expected shortly and planning for follow-up drilling is underway
- Shares are up 13.6 per cent at 6.7 cents at 1:53 pm AEDT
Great Southern Mining (GSN) has reported “exceptionally high-grade” gold 200 metres south of the known extent of mineralisation at the Southern Star deposit in Western Australia.
The company undertook an extensional reverse circulation drilling program adjacent to the deposit at its Duketon Gold Project, which lies 45 kilometres north of Laverton.
Specifically, GSN completed 3421 holes as part of the maiden program and extended the work with a further nine holes over 1142 metres in areas that required follow up drilling. Three existing holes were also re-entered and extended by 93 metres.
GSN recorded 17 metres at seven grams of gold per tonne (g/t) from 111 metres, including two metres at 56.7g/t and one metre at 109g/t gold.
The extension is reportedly positioned on a look-alike magnetic high feature also found at Southern Star.
The company’s CEO Sean Gregory said the discovery of high-grade gold in an area that had seen no previous drilling was an exciting find.
“It demonstrates that the 12-kilometre strike of this well understood mineralised trend is likely to hold more ounces on GSN tenure, we now just have to find out how many more,” he said.
“In terms of mineralisation style, Southern Star is the same as Ben Hur and Rosemount, which have progressively grown into company-making deposits and we see no reason for this not to also occur at Southern Star.”
Looking ahead, the company is anticipating further assay results from the centre and northern end of Southern Star to be available for release to the ASX shortly.
Based on the intercept above, GSN has begun planning for high-priority follow-up drilling as soon as possible.
Shares were up 13.6 per cent at 6.7 cents at 1:53 pm AEDT.
