Great Southern Copper PLC (LSE:GSCU) has reported what the company sees as “very significant” new exploration results at its Cerro Negro prospect, in Chile.
Channel chip sampling returned assays of up to 0.93% copper and 86.4 grams per tonne silver. And, newly identified mineralised breccias have extended the mineralisation trend two kilometres south of the Mostaza mine.
Phase II drilling at Mostaza has been completed with 16 holes drilled, totalling 1,701 metres.
Surface exploration efforts are continuing to define targets for Phase III drilling. Mineralisation remains open further to the south.
Chief executive Sam Garrett described it as ‘an exciting time for GSC’ given its multiple drill programmes across multiple prospects.
"These results are very significant, demonstrating that the structural trend which hosts the high-grade copper-silver mineralisation at Mostaza continues for a further two km along strike to the south of the mine,” he said of today’s data.
"Mineralisation is open to the south, and our ground exploration efforts will continue in earnest with the aim to further extend the mineralised trend and define drill targets for the Phase III exploration drilling programme.
"Meanwhile, deposit modelling and metallurgical test work on the Mostaza drill core has commenced, and scout diamond drilling continues at our Viuda Negra prospect targeting porphyry-epithermal style Au-Ag-Cu mineralisation.
The company holds an option to acquire 100% ownership of the Cerro Negro prospect, which benefits from excellent access to roads, power, towns and ports.