PriceSensitive

Southern Gold (ASX:SAU) hones in on precious metals in South Korea

Mining
ASX:SAU
10 December 2019 15:10 (AEST)

Gold producer Southern Gold (SAU) has found high-grades of the valuable commodity at its Beopseongpo project in South Korea.

A maiden diamond drilling program at the project returned a peak intersection grading 5.7 grams per tonne from 36.45 metres. This discovery was made at the Hand of Faith prospect.

In the company’s release to the market today it outlined testing demonstrated a “major epithermal system.” A number of critical indicators which suggest precious metal deposits are present were identified.

Southern Gold detailed a second drilling program is being planned for the project which will test deeper spots which are expected to contain “much higher grades,” according to the company.

In the coming weeks, a drilling program will commence at the Golden Palm prospect.

“Beopseongpo has all the right technical characteristics of a large-scale epithermal system and will require several drill programs to fully test the multiple targets in the extensively veined area,” Southern Gold’s Managaing Director, Simon Mitchell, said.

Southern Gold’s share price has dipped today, currently sitting 5.26 per cent in the red. Shares in the company are trading for 18 cents each at 11:28 am AEDT.

Related News