Great Southern Mining lands $3.15 million in placement to support aggressive gold exploration, shares up
The focus will be on exploration at Cox’s Find to follow-up impressive high-grade results from the maiden reverse circulation drilling campaign.
Company
ASX:GSN
Great Southern Mining Limited is an Australian based ASX listed gold exploration company that incorporated in January 2011 (previously Forte Consolidated Limited). The company has a 100% interest in 450km2 of highly prospective gold tenure in Laverton, Western Australia.
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The focus will be on exploration at Cox’s Find to follow-up impressive high-grade results from the maiden reverse circulation drilling campaign.
The company has landholdings in the renowned gold districts of Laverton in WA and Mt Carlton in North Queensland, with all projects within 25 kilometres of operating gold mills and major gold operations.
The company has land holdings in the world-renowned gold districts of Laverton (Western Australia) and Mt Carlton (North Queensland), with all projects within 25 kilometres of operating gold mills and major gold operations.
The results generated will be used in the design of the near-mine target drilling program; which will focus on testing near-mine priority targets.
The company is planning to get the boots on the ground to follow up these targets for possible drilling later in the year.
The acquisition comprises three granted mining leases along strike from and near Regis Resources’ multi-million-ounce Garden Well discovery.
The intersections were made in an area where breccia-hosted gold had previously been identified.
The company made the discoveries from reconnaissance and historical air core drilling programs adjacent to infrastructure and processing mills.
Ongoing detailed analysis and a systematic program of works will actively pursue the economic zones of mineralisation within the large porphyry system.
The results confirm a conventional gold processing flow sheet is suitable to treat the Mon Ami Gold Project ores.
The company is confident that the resource can be upgraded as further drilling is undertaken.