Great Southern Copper PLC (LSE:GSCU, FRA:E9E) told investors that a step-out hole drilled 400 metres south of the Mostaza mine has strengthened the case for a larger copper-silver system at the Cerro Negro project, in Chile, after returning grades of up to 6.55% copper and 320g/t silver and extending the interpreted Lens 2 trend beyond 400 metres of strike.
Partial assays from hole CNG25-DD042 included 21.8 metres at 1.04% copper and 52.26g/t silver from 73.0 metres, with higher-grade sections of 6.0 metres at 2.56% copper and 128.16g/t silver from 79.0 metres, including 1.6 metres at 6.55% copper and 319.75g/t silver from 82.0 metres.
The hole also intersected an upper lead-zinc-silver-rich silica breccia zone, which the company said mirrors the mineralised architecture seen around Lens 2.
Chief executive Sam Garrett said the latest step-out result pointed to a broader mineralised footprint along the Mostaza Fault Zone than first recognised, and, the firm anticipates mineralisation may be thickening or coalescing to the south, while remaining open and untested beneath shallow cover.
"These latest results for step-out hole DD042 continue to demonstrate the strong growth potential of the Mostaza copper-silver discovery," Sam Garrett said.
"Intersecting mineralisation at this distance from the historic workings provides further evidence that the Mostaza Fault Zone hosts a much broader mineralised footprint than originally recognised and emphasises the significant exploration upside still to be tested along this emerging trend."
"Exploration work to date has already traced mineralisation and alteration signatures for over two kilometres of the Mostaza Fault Zone, and this latest step-out hole is another important confirmation that the system remains open and continues to grow."
The explorer is now planning a fully funded Phase IV programme, with infill drilling aimed at linking Lens 2 mineralisation between the Mostaza mine and recent southern intercepts, alongside further extension drilling.
"[The new programme] will focus on in-fill drilling of Lens 2 between the Mostaza mine and the mineralisation intersected in holes DD07 and DD042.
Additional step-out drilling is aimed at extending the Lens 2 mineralisation trend further south along the Mostaza Fault Zone. In addition, we look forward to continuing to test the broader potential of the Cerro Negro system, Garrett added.