Great Southern Mining Applies for Highly Strategic Tenement for Project Expansion, Stock Zooms 34%

Western Australian based metals & mining player listed on ASX, Great Southern Mining Limited (ASX:GSN) has been actively engaged in the advancement of its 100% -owned Cox’s Find Gold Project.

GSN is looking forward to the expansion at its Cox’s Find Gold Project through an application that has been made by the Company for a highly strategic tenement E38/3476.

GSN believes that the tenement shall be a significant addition to the prospective tenure and probable infrastructure space to its Cox’s Find Gold Project located near Laverton, Western Australia.

GSN-owned Cox’s Find Gold Project is considered to be a shear hosted Archaean orogenic gold deposit, where an initial review of the Project translated to the outstanding prospect for the Cox’s Find Mine to contain high-grade remnant mineralisation adjacent the current workings and also high-grade ore beyond the current workings.

Most recently, GSN initiated a tenement wide shallow Geochemical Aircore drilling program on a 100-metre by 50-metre grid pattern over the full project area.

  • The program is targeted to offer a further layer of geological information and conclude the geochemical dataset over the complete area of the Project.
  • The Company looks forward to using the data to facilitate targeting further Cox’s Find style mineralised systems.

GSN’s Geochemical Aircore drilling program at its Cox’s Find Project is planned to:

  • Map out mineralisation and structural trends throughout the project area.
  • Deliver a full geochemical dataset that shall help surface lithological interpretation.
  • Recognize the scope and aim of hydrothermal alteration with a view to find gold mineralisation that does not outcrop at surface.

Over the years, GSN has been actively engaged in tracing and evaluating opportunities to make a significant addition to its quality project portfolio. The current application for the highly strategic tenement is expected to facilitate in the expansion programs along the strike at the Project and provide potential infrastructure space for the future.

A look at Previous Update from GSN: Great Southern Mining Announces Multiple New Near Mine Targets at Cox’s Find; Stock Surges 17 %

GSN’s Executive Chairman, John Terpu, said:

Following the success of the maiden drilling program, we are excited to add this prospective tenure to the Project and look forward to continuing the development of one of the highest, if not the highest, grading deposits along strike.

As GSN has applied for the highly strategic tenement, the Exploration License application shall from now proceed to the statutory processes prior to approval.

Post the announcement, the GSN stock zoomed 34% during the day’s trade on 10 March 2020 and closed the day’s trade at a price of $ 0.043. The stock has a market capitalisation of $10.66 million.

Moreover, the ASX started defying the coronavirus-driven downtrend on 10 March 2020 driven by the development of optimism in the market as the pace of coronavirus growth slows down in mainland China that accelerated in mid-January.

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