- Great Southern Mining has received significant shallow high-grade gold at the Mon Ami Gold Project.
- A 20-hole Reverse Circulation drill program at the Mon Ami Gold Project has discovered high-grade gold intersections including:
- 11m @ 7.9 g/t gold, including 4m @ 15.9 g/t gold from 26m, in 20MARC011.
- 4m @ 12.4 g/t gold from 80m in 20MARC003.
- GSN believes that there exists further scope to target the high-grade mineralisation while planning for the next phase of drilling at Mon Ami is well underway.
Gold explorer with significant projects, Great Southern Mining Limited (ASX:GSN) has been making remarkable progress across its gold projects over the period and has received highly encouraging results from the drilling and exploration activities.
The 20-hole Reverse Circulation (RC) drill program at GSN’s 100% owned Mon Ami Gold Project has identified significant high-grade gold intersections including:
- 11m @ 7.9 g/t gold, including 4m @ 15.9 g/t gold from 26m, in 20MARC011
- 4m @ 12.4 g/t gold from 80m in 20MARC003
The drill program comprised of 2763 metres and was designed to test the mineralised north-north-east (NNE) striking regional shear zone, including:
- areas which sit outside or on the edge of the current southern extent of the Resource area,
- areas where historic shafts are known to have extracted gold (in the early 19th century) and situated along the shear;
- areas where the presence of cross-cutting or NE splays have been mapped in close proximity to the main shear zone
The excellent results received show that within quartz veining at the lithological contact of a sedimentary sequence and a basalt unit, there occurs high-grade gold. More importantly, GSN believes that gold is concentrated in at the areas of cross-cutting splays indicated by the latest high-grade gold intersections given above.
Plan view of the Mon Ami Gold Project Indicating the location of high-grade intercepts (Source: ASX Announcement)
GSN believes that this drilling has demonstrated substantial potential for Mon Ami Project to expand in terms of grade as well as ounces, and there is a need for further drilling at the project.
Interestingly, there is a shear zone target area that continues to produce encouraging intersections. Moreover, the high-grade mineralisation emerging close to the surface is more compelling for GSN. As the potential to raise the grade profile has been indicated through the continuous discovery of these high-grade quartz veins, there lies a significant development for the Mon Ami Project.
Presently, GSN is engaged in processing and interpretation of the recent results and remains optimistic for the additional scope to target the intersection points of the NE splays at the regional shear zone to target the high-grade mineralisation.
Mon Ami Project is said to be amongst the highly advanced projects of GSN and offers a significant potential to expand on the groundwork.
GSN stock was noted at a price of $0.135 with a market capitalisation of $59.32 million on 12 August 2020 (AEST 02:30 PM). GSN has increased by 150% during the last three months till 11 August 2020.
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