Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Junior gold explorer Great Southern Mining (GSN) has officially kicked off a major drilling program at its Cox’s Find Project in Western Australia
  • The 9000-metre drilling program will be completed in two phases with a mixture of reverse circulation and diamond drilling planned
  • The company says the drilling will build on recent success from previous drilling at the historic high-grade mine
  • The program will include the first-ever diamond core drilling at the Cox’s find area
  • As the market nears its close for the day, Great Southern shares are just shy of 10 cents each and trading over 15 per cent up

Junior gold explorer Great Southern Mining (GSN) has officially kicked off a major drilling program at its Cox’s Find Project in Western Australia.

The company said the drilling is designed to build on recent success the company has struck at the historic high-grade gold mine.

Under the 9000-metre drilling program, Great Southern will take on a mixture of reverse circulation (RC) and diamond drilling in the area over two phases.

The first phase will be made up of 5000 metres of RC drilling and 500 metres of diamond drilling, focusing on delineating the extent of high-grade mineralisation previously announced in December 2019.

Under the second phase, Great Southern will drill another 4000 metres of RC holes to test what it’s referring to as near-mine geological “look-alike” targets.

Between these two phases, the company will take on a separate 3000-metre drill program at its Mon Ami Gold Project, also in WA.

Great Southern said the RC drill rig is on-site and already underway, while the diamond drill rig will arrive on the site within a week.

Great Southern Chief Operating Officer Mark Major said Cox’s find is an extremely high-grade deposit and has all the hallmarks of a potential modern-day underground development.

“This will be the first intensive drill program targeting the down-plunge extensions of the deposit and the first diamond drill program targeting the high-grade lode,” Mark said.

“This program should enhance our structural understanding of the deposit and assist with advancing the forthcoming drill programs at the Cox’s Find deposit and support targeting repeat structures within our tenure,” he continued.

Building on previous results

Cox’s Find historically produced 107,000 tonnes at an average grade of 22 grams per tone of gold for 77,000 ounces.

More recently, great Southern took on some RC drilling at the project, which highlighted the remnant high-gold mineralisation remains. According to the company, whole sections of the underground development have never been tested.

The best results from Great Southern’s previous recent drilling include an eight-metre intersection grading 9.43 grams per tonne of gold from 73 metres, which included a one-metre zone grading 44 grams per tonne of gold.

The company said no diamond core drilling has ever been taken on in this area, so the current drilling program will provide “invaluable” insights into the structural setting of the mineralisation.

Shares in GSN are trading 15.29 per cent higher this afternoon, currently worth 9.8 cents each.

GSN by the numbers
More From The Market Herald
Great Northern Minerals (ASX:GNM) - CEO & Managing Director, Cameron McLean

" Great Northern Minerals (ASX:GNM) gets pleasing one-metre results from Camel Creek

Great Northern Minerals (GNM) has received one-metre composite results from its recent reverse circulation (RC) drilling program at the Camel Creek gold project
Torque Metals (ASX:TOR) - Executive Chairman, Ian Finch

" Torque Metals (ASX:TOR) discovers new gold zone at Paris

Gold explorer Torque Metals (TOR) has discovered a new high-grade zone of gold mineralisation at its Paris Project.
Gibb River Diamonds (ASX:GIB)- Executive Chairman, Jim Richards

" Gibb River Diamonds (ASX:GIB) drilling grows Neta

Phase five aircore drilling at Gibb River Diamonds (GIB) Edjudina Gold Project has extended known mineralisation at the Neta Gold Project in Western

" Nova Minerals (ASX:NVA) intersects further broad, high-grade zones at RPM

Nova Minerals (NVA) has intersected more broad, high-grade zones of mineralisation at the RPM North prospect which is part of the Estelle gold