- Southern Gold has recently completed field work at Beopseongpo mine in South Korea
- The company recently discovered small-scale historical mining, which supports the company’s plan to drill beneath the surface where high grade-gold-silver mineralisation is likely
- Drilling will commence at the mine near term with the drill rig deployment expected in the coming months
Southern Gold, an Australian-based gold company has announced a recently completed fieldwork program at the Beopseongpo has identified the mine as a highly prospective low-, epithermal gold-silver vein with an extensive mineralised system.
Southern Gold believes despite surface gold results being low grade, it is very likely that a high-grade gold mineralised system sits 100 metres below .
The Beopseongpo Gold Project is located in the Jeolla Province in south-western Korea. The recent fieldwork program included geo-structural, mineralisation and alteration mapping covering a 5.7 square kilometre area.
Fieldwork uncovered two historical Japanese occupation-era adits which prove there has been small-scale mining of the area in the past where at least one was explored on multiple levels along a 150-metre strike and then sealed after the Korean War.
During the program, five major vein zones were identified however the Company believe there are more hidden under cover rocks. The identified vein zones have been named Golden Palm, Lotus, Hand of Faith, Phoenix and Enigma and together have a combined strike extent of 2,570 metres.
Unfortunately, all five veins have returned relatively low grade anomalous gold-silver values with peaks of 31.9 grams per tonne of gold and 23.5 grams per tonne of silver. However, despite unfavourable results Southern Gold Managing Director, Simon Mitchell remains confident Beopseongpo represents “one of the better targets in the Southern Gold portfolio.”
“While the surface gold results are relatively low grade this is what we expected from a system at this high level of exposure. If our technical model is correct the main mineralised system is likely 100m below surface and, given the textural and alteration evidence we have uncovered so far, there is a very good chance we will find very high-grade gold mineralisation,” said Mitchell.
In comparison to other prospective mines around the world, Beopseongpo displays very similar features. Drilling will commence once the drill rig is deployed in the next few months.