Great Southern Copper PLC (LSE:GSCU) has reported fresh drilling results from its Cerro Negro project in Chile, confirming high-grade copper and silver mineralisation at the Mostaza deposit and identifying a new zone at Lens 1.
The London-listed explorer said final assays from its phase II campaign at Lens 2 included intercepts such as 7.2 metres at 1.47% copper and 122 grams per tonne of silver, with narrower sections containing higher grades.
Another hole returned 8.4 metres at 1.49% copper and 121 grams per tonne of silver, including 3.2 metres at 2.63% copper and almost 240 grams per tonne of silver.
At Lens 1, around 150 metres north of Lens 2, drilling confirmed its first mineralised intercepts. One hole cut 3 metres at 0.91% copper and 62 grams per tonne of silver from shallow depth.
Great Southern said it had completed 25 drill holes across the first two phases of work, all intersecting the target mineralised zone.
The company plans to start phase III drilling in late August, targeting additional lenses and extensions of Lens 2, subject to rig availability.
The Cerro Negro prospect sits at relatively low altitude with road access and nearby mining services. Great Southern holds an option to take full ownership of the project.
Chief executive Sam Garrett said: "Drill planning is well advanced for our phase III programme, which we hope to commence in late August, subject to drill rig availability.
"This is an exciting time for GSC as we begin the next step to attempt to explore the growth potential of this high-grade asset.”