- Great Southern Mining (GSN) has found gold mineralisation in diamond drill core from the Cox’s Find Gold Project in Western Australia
- The company is encouraged by the visible gold as it indicates the potential high-grade nature of Cox’s Find
- The diamond drill core is currently being processed and the first core is expected to be cut and sent for assaying within a week
- Great Southern shares are trading up 16 per cent, for 14.5 cents each
Great Southern Mining (GSN) has found gold-bearing mineralisation in diamond drill core from the Cox’s Find Gold Project in Western Australia.
Cox’s Find is a shear-hosted gold deposit located in the Duketon Greenstone Belt in the Laverton district of WA.
Between 1937 and 1942, the project produced around 77,000 ounces of gold at a head grade of roughly 22g/t gold from a veins tope operation.
Hole 20CFRCD0004 was drilled immediately down from the historic Cox’s Find workings and was designed to intersect an area of high-grade mineralisation that was previously identified in the December, 2019, drilling program.
“This is a very exciting time for the company – seeing multiple occurrences of visible gold in drill core is always a good sign. I’ve personally driven up to site to inspect the core,” Chief Operating Officer Mark Major said.
This hole was designed to target the high-grade mineralisation intersected between level five and six of the underground development.
The company is hoping to better understand the structural controls of the high-grade mineralisation.
Highlights from the drilling conducted last year include five metres at 14.54g/t gold from 140 metres, including two metres at 28.85g/t gold, five metres at 31.23g/t gold from 134 metres, including one metre at 143g/t gold, and two metres at 36g/t gold from 146 metres, including one metre at 68g/t gold.
The hole intersected the interpreted Cox’s Find main lode which lies approximately 155 metres downhole with visible gold observed between the 164.6-metre and 165.8-metre interval within a multi-phased quartz vein host.
Since diamond drilling commenced in mid-June, two diamond holes have been drilled.
The diamond core is being processed, and first core is expected to be cut and sent for assaying within one week.
Three remaining diamond holes are planned and two of these are planned down plunge from hole 20CFRCD0004.
This marks the first diamond core drilling to be conducted into the main lode of Cox’s Find.
Great Southern Mining believes it will gain valuable insights into the structural setting of mineralisation that will guide future drilling.
Great Southern shares are up 16 per cent, with shares are trading for 14.5 cents each at 1:51 pm AEST.