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Great Southern Mining (ASX:GSN) - Chief Executive Officer, Sean Gregory - The Market Herald
Chief Executive Officer, Sean Gregory
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  • Reverse circulation drills have returned near-surface gold mineralisation at Great Southern Mining's (GSN) Mon Ami project in Western Australia
  • The 14-hole campaign sought to determine depth extensions at the project and define shallow high-grade gold mineralisation with the aim of securing a resource classification upgrade
  • In return, exploration efforts have yielded a gold mineralisation extension of 500 metres that opens along strike and at depth, with key findings of 10 metres at 2.7 g/t gold from 241 metres including five metres at 5.2 g/t gold
  • The results are hoped to drive the company's resource upgrade, which is expected in the second quarter of this year
  • Great Southern shares are down 7.59 per cent following the announcement, trading at 7.3 cents

Reverse circulation drills have returned near-surface gold mineralisation at Great Southern Mining's (GSN) Mon Ami project in Western Australia.

GSN’s wholly owned Mon Ami Gold project is situated 17 kilometres southeast of Laverton in Western Australia and touts and inferred mineral resource 1.1 million tonnes at 1.7g/t gold for 59,000 ounces of gold.

The 14-hole, 1601-metre drill programme was undertaken to test for possible depth extensions at the prospect and define near-surface, high-grade gold mineralisation with the aim of securing a resource classification upgrade.

According to the explorer, the campaign has extended gold mineralisation for 500 metres and is open along strike and at depth.

Notable findings include a deeper drill intersection of 10 metres at 2.7 g/t gold from 241 metres including five metres at 5.2 g/t gold, with standout shallow intersections coming in at four metres at 6.6 g/t gold from eight metres including two metres at 11.6 g/t gold.

More broadly, the explorer says mineralisation is currently constrained only by drilling, with the results demonstrating the potential for mineralisation to persist further down plunge along strike.

In terms next steps, the results will be incorporated into the company's bid for a resource classification increase, which is on track for the second quarter of this year.

"This program was designed to resolve two key questions — whether there is scope to improve the economics and confidence of the mineralisation inside the proposed mining envelope, and whether there is underground mining potential," Great Southern Mining's CEO Sean Gregory said.

"Both questions have been resoundingly answered in the affirmative," he commented.

Great Southern Mining is also pursuing the necessary technical and environmental studies to secure a mining approval in the second half of 2021.

Further assessment of the fresh results is underway ahead of planning for a follow-up drill program.

Great Southern shares are down 7.59 per cent following the announcement, trading at 7.3 cents at 4:58 pm AEDT.

GSN by the numbers
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