Great Southern Copper PLC (LSE:GSCU, FRA:E9E) told investors it has expanded its footprint at the La Colorada prospect in Chile, adding five new concessions covering 1,000 hectares as it tightens control over what it sees as the core of a large porphyry copper-gold target.
The company said the new ground strengthens its dominant position over the La Colorada lithocap, part of the Especularita Project, where alteration has been mapped across more than 75 square kilometres.
Chief executive Sam Garrett said the extra concessions secure “control of the central core of the alteration system” and will feed into ongoing exploration work. Mapping, sampling and geophysics are planned to help vector towards potential porphyry centres, while spectral mapping of alteration minerals and AMT and magnetic surveys are also scheduled.
The explorer noted that planning and permitting for scout RC drilling on the western and southern margins of the lithocap are already well advanced, with hopes of starting within the month. Great Southern Copper is a UK-listed explorer focused on copper-gold-silver projects in Chile.
"Advanced argillic high-sulphidation lithocaps are well known to occur above porphyry copper and copper-gold deposits globally, and GSC's La Colorada prospect is a giant example with the alteration system extending for over 75 square kilometres in area. Significantly, La Colorada sits within a lineament that hosts massive porphyry copper-gold deposits, including Los Pelambres, Altar, Piuquenes and El Pachon, and yet remains relatively unexplored," Garrett said.
He added: "Exploration, including mapping, sampling and geophysics, is planned to systemically vector towards potential porphyry copper centres at depth. In parallel, planning and permitting for scout RC drilling targeting the western and southern margins of the lithocap are well advanced, and we hope to commence these programmes within the month."