Great Southern Copper PLC (LSE:GSCU) told investors it has expanded its drilling target at the Mostaza copper-silver-gold mine, within its Cerro Negro project in Chile.
It has recognised significant additional copper-silver mineralization zones in historical drill-hole and surface sampling data, and as a result increases the scale of the target for its upcoming maiden drilling programme.
Historical drilling included 25 diamond holes, totaling 1,024 meters, with many intercepts displaying copper grades above 1%.
The company noted that modern modelling of data has revealed a substantial halo of additional mineralization around the previously envisaged high-grade zones, suggesting the potential for a larger deposit.
"It is very encouraging to identify this additional potential before any meters have even been drilled at Mostaza,” chief executive Sam Garrett said in a statement.
“The recognized mineralization has the potential to significantly increase the size of the Mostaza deposit and provide optionality for potential future mining operations.”
Preparation for drilling is underway. The company has completed the necessary environmental and archaeological surveys and has selected a drilling contractor.
At the same time, fresh and ongoing exploration work has identified further copper mineralisation in multiple structures along the Mostaza trend, which could further enhance the project's global copper potential.
Detailing the geological significance, Garratt said: "The discovery of additional copper-mineralised structures hosted in the advanced argillic lithocap above the Mostaza mine is also very significant in terms of our porphyry copper exploration at Cerro Negro.
“The potential of these anastomosing mineralised structures to grade downward into porphyry type mineralisation is a genuine target vector.”
Garrett added: “The copper bank at Cerro Negro is building, and we eagerly await the start of drilling,” Garrett commented.
“Drill sites have been reviewed by the drilling contractor, and permitting for the drilling program is progressing with archaeological and environmental surveys already completed."