AUS
NZ
UK
CA
USA
IND
Western Australian based gold exploration company, Great Southern Mining Limited (ASX:GSN) owns and manages some strategic and significant land holdings in Western Australia as well as Northern Queensland.
With strategic land holdings in prolific gold provinces, the Company has multiple underexplored brownfield projects in tier 1 jurisdiction of Laverton district, Western Australia as well as greenfield projects in central north Queensland mining district.
GSN’s Strategy
GSN focuses on a clear strategy of creating value for shareholders by advancing its existing gold resource base through extensional drilling at Mon Ami and testing high grade near mine targets at Cox’s Find, with the aim of monetisation in the short term. This strategy is supported by a management team with experience in discovery and development, which is further leveraged by exploration activities in the Queensland elephant country for new discoveries.
GSN’s Project Portfolio
GSN owns and operates an extensive project portfolio in world-renowned mining districts that provide multiple commercialisation opportunities for the Company, including the following:
More About Projects: Tracing the Projects and Progress of Great Southern Mining Limited
One of the most promising assets in the portfolio of GSN is its 100%-owned Cox’s Find Gold Project located in the world-class gold district and has historical production of approximately 77,000 gold ounces at a grade >21 g/t.
Cox’s Find is an exceptional opportunity for exploration and resource growth of an old high-grade gold mine with historical production of 106,009 tons at 22.6g/t Au for 75,816oz gold by Western Mining Corporation recorded between 1936 and 1942.
GSN acquired the Cox’s Find Gold Mine and surrounding Mining tenure comprising of a 100% interest in three granted Mining Leases in August 2019 and has made notable progress at the Project since then.
Immediately after the acquisition of the Project, GSN kick started the exploration at Cox’s Find to evaluate the remnant resource on the material still on surface. Soon after the drilling program commenced, GSN made the strategic decision to substantially broaden and accelerate GSN’s maiden drilling program at Cox’s Find with a view to complete RC and DD drilling targeting untested ultra-high-grade quartz reefs within the unworked historical underground levels. Drill targets were identified from the integration and modelling of historic mining and exploration data.
Details at: Great Southern Mining to broaden Cox’s Find Gold Project, Doubles Drilling Program
In December 2019, the results from 17 RC holes beneath the historic Cox’s Find pit validated the high-grade mineralisation extending from the historic underground workings that produced ~76 kilo ounces of gold at an average recoverable gold grade of 22.6 g/t.
Maiden Results: Significant results received from GSML’s initial drilling campaign were:
- 8m at 9.43 g/t gold from 73m, including 1m at 44 g/t in hole 19CFRC002
- 2m at 36 g/t gold from 146m, including 1m at 68 g/t in hole 19CFRC004
- 5m at 14.54 g/t gold from 140m, including 2m at 28.85 g/t in hole 19CFRC009
- 6m at 7.90 g/t gold from 132m, including 1m at 35.9 g/t in hole 19CFRC011
- 5m at 31.23 g/t gold from 134m, including 1m at 143.0 g/t gold in hole 19CFRC013
- 2m @ 9.75 g/t gold from 88m in hole 19CFRC014 and
- 2m @ 9 g/t from 76m in hole 19CFRC001
Related: Drilling Update from GSN’s Cox’s Find Gold Project: Stock Trading Close to 52-weeks High
The high-grade results received were consistent with the historical production records in terms of width and grade and the high-grade intersections confirmed significant remnant mineralisation remains in the mining area.
The high-grade results from the maiden drilling program reflected as the first stage in unlocking the true potential of the Cox’s Find Gold Project as well as creating value for the shareholders. It also assisted the technical team in updating the geological model with definition of the high-grade mineralisation trends.
More about Results: High-Grade Intersections at Cox’s Find feeding Great Southern’s Aspirations
Near Mine Targets Identified: Drilling at the Cox’s Find identified multiple high-priority structural targets with an estimated gold Exploration Target around these analogues of 260,000 to 480,000 tonnes at a grade range between 15-25 g/t gold and confirmed remnant high grade mineralisation in unmined development panels between 130m and 170m depth.
Details at: Great Southern Mining Announces Multiple New Near Mine Targets at Cox’s Find
A tenement wide shallow Geochemical Aircore drilling program on a 100 metre by 50 metre grid pattern was initiated assist with surface lithological interpretation, especially, identification of the prospective Cox’s Find formation in addition to determine the degree of hydrothermal alteration to further identify prospective gold mineralisation zones that do not outcrop at surface.
The program results are anticipated to come out by the end of April and the Company expects insights from the recent structural mapping to facilitate prioritising and scheduling targets for the future exploration targets.
More at: Great Southern Mining Commences Tenement-wide Aircore Drilling Program at Cox’s Find
Strategic Application: In March 2020, GSN applied for a highly strategic tenement which would be an addition to the prospective tenure and potential infrastructure space to its Cox’s Find Gold Project. GSN is constantly seeking for opportunities to add to its quality project portfolio, and the highly strategic tenement shall enable GSN to expand exploration programs.
Source: Company's Report
Other Projects and news flow to be expected in 2020
In addition to Cox’s Find, we cannot forget about Mon Ami, which is also located within the Laverton goldfields of WA. In 2018, GSML undertook a maiden drilling program with over 5,800 metered of RC drilling (40 holes) completed. This work resulted in a JORC (2012) resource of 1.1Mt @ 1.7g/t Au, using a 1 g/t Au cut-off, which is still open in all directions. GSML are looking to increase the resource and advance this project to commercialisation.
Over the other side of Australia in Queensland, the company is also expecting results from the recently flown hyperspectral survey at its Edinburgh Park project, which is right next door to Evolutions Mount Carlton Mine. This is elephant country where very little modern-day exploration has taken place. GSML has already identified several major prospects which have shown very positive signs at this early stage of exploration.
All up a lot of news flow for 2020.
Stock Information
The GSN last traded on 4 April 2020, at a price of $0.042, with a market capitalisation of $14.69 million.
