Southern Gold (ASX:SAU) - Managing Director, Simon Mitchell
Managing Director, Simon Mitchell
Source: The Market Herald
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  • Southern Gold (SAU) has uncovered high-grade gold mineralisation during a maiden drilling program at the Aphae Project in South Korea
  • Four holes were drilled, with the first hole intersecting sulphide-quartz breccia and confirming gold mineralisation
  • Southern Gold has only received results for three of the holes, with grades peaking at 107.5g/t gold and 166g/t silver
  • Due to some international freight hurdles because of COVID-19, results for the remaining hole were delayed, but they are expected shortly
  • Follow-up drilling and magnetic surveys have been planned to target extensions
  • Southern Gold’s shares are down 7.58 per cent and are currently trading for 15.3 cents each

Southern Gold (SAU) has uncovered high-grade gold mineralisation during a maiden drilling program at the Aphae Project in South Korea.

Four holes were drilled, totalling 720.46 metres, with the first hole, APDD001, intersecting the targeted sulphide-quartz breccia and has confirming gold mineralisation.

Hole APDD003 then extended this gold mineralisation to the north.

Southern Gold has only received results for three of the holes with better results including 0.21 metres at 107.5g/t gold and 166g/t silver from 53.01 metres, 0.18 metres at 5.92g/t gold and 99g/t silver, and 0.86 metres at 5.49g/t gold and 59g/t silver.

Due to some international freight hurdles because of COVID-19, results for the remaining hole were delayed, but they are expected shortly.

“There is a lot going on geologically at Aphae and triple figure gold grades in drill core from a maiden greenfields drill program certainly grab your attention,” Managing Director Simon Mitchell commented.

“With high-grade gold and silver, elevated lead, zinc, copper and arsenic, and the fact we appear to have several phases of mineralisation indicate a fertile system, potentially with more surprises to come,” he said.

“Now we have a lot of follow up work to do on the ground as the wider Aphae project area has not been systematically traversed or sampled and we believe there could be potential beyond the immediate mine workings,” he added.

Southern Gold’s shares are down 7.58 per cent and are trading for 15.3 cents each at 2:28 pm AEST.

SAU by the numbers
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