- Great Southern mining has reported more intersection of substantial widths of gold mineralisation in the existing phase of Reverse Circulation (RC) drilling at Cox’s Find with significant results of
- 9m @ 5g/t gold from 142m within a broader zone of 16m @ 3.7g/t gold from 138m (20CFRC0015), and
- 2m @ 14 g/t gold from 146m (20CFRC0014).
- GSN has received and assessed results for the first fifteen RC holes of the program (20CFRC0001 to 20CFRC0015) for 3,286m.
- Assay Results are still pending on around 50% of the drill holes, while GSN is continuing exploration drilling with a focus on regional look-alike targets.
Here comes yet another exciting news from Great Southern Mining Limited (ASX:GSN), a mineral exploration company in Western Australia. The Company’s highly prospective ground, Cox’s Find Gold Project in Laverton has returned significant high-grade gold intersections in multiple drill holes during the newest phase of Reverse Circulation (RC) drill program.
GSN has intersected substantial widths of gold mineralisation within a possible larger gold-hosting system in the present round of Reverse Circulation drilling at the project and the best results include:
- 9m @ 5g/t gold from 142m within a broader zone of 16m @ 3.7g/t gold from 138m (20CFRC0015)
- 2m @ 14 g/t gold from 146m (20CFRC0014)
Importantly, exploration work through the drilling program is presently at an early stage and noteworthy assay results have been returned from 20CFRC0014. The Hole lies outside the interpreted main historical mining lode, which is known to be the focus of the historical underground mining in the late 1930’s.
GSN believes that along with being a substantial finding, this latest area is interpreted as either a further new high-grade shoot that is generally found within high-grade systems or an extensional blow zone linked to the main mining lode.
At present, GSN has obtained assays for the first 15 RC drill holes and only 1 of the 5 diamond drill holes, equating to around 3,286m of drilling been assayed from an extensive 9,000m program.
GSN has completed an extensive RC drill campaign designed exclusively to test the extensions of the unmined main lode systems in Cox’s Find over a total area of 5,618m spread across 32 holes. In totality, GSN has received and assessed results from the initial fifteen RC holes of the program, including 20CFRC0001 to 20CFRC0015 for 3,286m. The first five holes were reported last week along with the bonanza grade diamond core intersection.
Source: Company’s report
Since the acquisition of Cox’s Find Project, GSN has been optimistic about the potential upside at the project given that it had seen virtually no exploration in the last 30 years. Moreover, the exploration undertaken was without systematic geological exploration and had been focused on shallow exposure.
In light of the present highly encouraging early results, GSN believes that Cox’s Find deposit demonstrates the prospective nature and opportunity for the Company and the early results from this limited program of drilling have firmly supported this view.
Significantly, the newly drilled diamond core drilling by GSN was the first diamond core hole program drilled into a gold bearing mineralised system of the mine.
With significant back to back results, GSN is advancing its understanding of the structural controls and lithological associations on almost a daily basis.
GSN seeks to emerge as a leading gold explorer in Australia and focuses on generating shareholder gains by way of efficient exploration programs as well as strategic acquisitions of projects.
On 04 August 2020, GSN stock was noted at a price of $ 0.145 at AEST 02:39 PM.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.