Great Southern Copper PLC (LSE:GSCU, FRA:E9E) told investors that scout drilling at Cerro Negro has extended high-grade silver-base metal mineralisation 1.5 kilometres south of the Mostaza mine, strengthening the scale case around the Chilean prospect and sharpening targets for the next drilling phase.
The latest reverse-circulation results from the Phase III campaign hit mineralisation in every reported hole, it highlighted in a statement on Monday. The strongest deeper intercept came from hole RC041, which returned 26 metres at 62.8 grams per tonne silver, 0.43% zinc and 0.19% lead from 200 metres, including 12 metres at 101.8 g/t silver. Near surface, RC040 delivered 16 metres at 32.9 g/t silver and 0.19% lead from 24 metres.
The company also flagged a new near-surface copper-silver zone in hanging wall volcanics, with RC048 returning 6 metres at 0.72% copper and 78.27 g/t silver from 24 metres, including 2 metres at 1.04% copper and 86 g/t silver.
Great Southern Copper highlighted the results show a strong correlation between mineralisation and IP chargeability anomalies, which should help prioritise follow-up targets along the Mostaza Fault Zone.
"These important scout RC drill results have been highly successful in demonstrating that high-grade silver-base metal mineralisation extends at least 1.5 kilometres south of the Mostaza mine consistent with surface geology and geochemistry anomalies as well as IP chargeability anomalies along the Mostaza Fault Zone," said chief executive Sam Garrett.
"These anomalies extend a further 1km to the south and remain untested by drilling emphasising the increasing scale potential of the Cerro Negro system."
Garrett added: "With multiple high-priority targets now defined, we are well positioned to advance these areas through follow-up drilling in Phase IV. Additionally, our team is currently mapping and sampling further along the Mostaza Fault Zone to the south as well as the Monolith Zone as we continue to unlock the broader district-scale potential of Cerro Negro."
He, meanwhile, noted that geological investigation and interpretation of the RC chips is ongoing, and told investors that preparation for Phase IV drilling is already at an advanced stage, work additionally continues at Monolith and elsewhere across the broader Especularita project in Chile.