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Great Southern Mining Limited (ASX:GSN) has always been confident as to the discovery potential of the Edinburgh Park Project in North Queensland. With more than 15 years’ experience exploring the area during his tenure as Managing Director of Conquest Mining (now Evolution Mining), and through the discovery of the initial V2 and Area 39 deposits, now the Mt Carlton Gold mine. John Terpu understands the type and scale of exploration activities needed to give a Company the best chance to find the next tier-1 discovery.
Previous Update from GSN: Cox’s Find Project Another golden feather in the cap of Great Southern Mining
The significant landholding has challenges but provides significant discovery upside. With over 1000km2 of prospective tenure, a measured exploration approach is a must. Target generation is based around multi-disciplinary (geochemical and geophysical) programs. To date, GSN has completed both with promising results. It has also completed successful reconnaissance drilling at the Rocky Ponds Breccia Pipe.
However, these programs have only mapped close to 15% of the total Project area to date. The Hyperspectral Survey provided the opportunity to accelerate the exploration program and provides data to pinpoint specific mineral compositions at the surface, which highlight the more prospective areas of GSN’s tenure and concentrate GSN’s discovery efforts and field exploration funds to around 50km2 rather than the vast landholding.
Related: Drilling Update from GSN’s Cox’s Find Gold Project: Stock Trading Close to 52-weeks High
The initial interpretation of the survey has only focused on epithermal mineralisation, indicative of that at Mt Carlton. This has produced more than 15 targets to date with additional interpretation being undertaken. The Company believes that this is an outstanding result and really sets GSN up for an exciting 2020. Not only have the already known Fish Creek and Mount Dillion prospects been highlighted but additional previously unknown targets have been identified, 5 of which are being prioritised for immediate follow-up programs
What is most exciting are the “footprints” this survey provides as to the potential for future discoveries. GSN’s Fish Creek, Mt Dillon, Edinburgh Castle, Whydah South and Bogie Range prospects are now all considered high priority targets due to the scale of the mineral zones evident at the surface and identified in the hyperspectral survey (some extending up to ~2 km in scale) which and comparable to those noted at Mt Carlton.
GSN’s prospective tenure is immediately adjacent to and around EVN’s world-class Mt Carlton Gold Mine; this is elephant country. EVN’s approach to partner with GSN in this hyperspectral survey is as an endorsement of the area’s prospectivity and GSN’s belief that this area could contain the next tier-1 discovery.
Related: Great Southern Mining Commences Tenement-wide Aircore Drilling Program at Cox’s Find
GSN is currently undertaking a further interpretation of the hyperspectral data to assist with identifying other mineralisation systems known to exist within the area, such those associated with IRGS and Porphyry systems. The data will be continually updated and refined as field collection of physical data is undertaken, which will heighten the prospectively of even more discoveries.
The GSN stock remained unchanged at a price of $0.043 on 15 April 2020.
