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Southern Gold discovers new prospect with 53.9 g/t gold and 6,240 g/t silver

The discovery of high-grade gold and silver has the company wanting to start maiden diamond drilling as soon as possible.

Southern Gold Geologist at the Golden Surprise discovery outcrop at ’Bonanza Zone’
“It’s not often you can walk up to outcrop and identify visible native silver in hand specimen!”

Southern Gold Ltd (ASX:SAU) has received assay results from field work completed in the June quarter at its 100%-owned Deokon Project in South Korea.

Two outcrops were discovered named the Bonanza Zone and Thorn Zone within 500 metres of each other, collectively referred to as the Golden Surprise Trend.

Another of assay results from samples taken from both zones has returned grades of up to 53.9 g/t gold and 6,240 g/t silver.

READ: Southern Gold focuses on South Korean gold development prospects

Southern Gold’s managing director Simon Mitchell said: “These very high-grade results vindicate the project generation work that has been undertaken to date in South Korea.

“Our 100% owned Deokon Project is shaping up incredibly well with bonanza grade gold and silver on surface in an area which, to our knowledge, has never been previously drilled.

“It’s not often you can walk up to outcrop and identify visible native silver in hand specimen!

“This adds a whole new meaning to the often-used term ‘walk-up drill target’. Deokon, as a high-quality project opportunity, underscores the enormous exploration potential of South Korea.”

Deokon could host a gold-silver epithermal mineralisation system

The sampling program collected 112 new samples at Deokon with the results highlighting multiple untested vein systems in addition to historical mine workings.

The project has good potential to host a high-quality gold-silver epithermal mineralisation system with multiple vein zone targets identified across several square kilometres of project area.

Follow-up mapping and sampling work on the Golden Surprise trend, and Shin Hill North, was undertaken in June to continue building the understanding of the Deokon mineralised systems.

Progressing drilling as soon as possible

The Southern Gold Korean team is in discussions with local landowners to enable drilling to commence as soon as practicable.

The company expects to commence drilling at Beopseongpo very shortly, where full access to drill sites has been agreed.

It will also look to drill at the Deokon Golden Surprise Trend once local landowners and other stakeholders have been fully informed of developments.

Quick facts: Southern Gold Limited

Price: 0.2 AUD

Market: ASX
Market Cap: $17.67 m

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