Southern Gold Ltd (ASX:SAU) has confirmed a major epithermal system from drilling at the Beopseongpo Gold Project in South Korea.
Beopseongpo Project showing the locations of the Lotus North and Hand of Faith Prospects where drilling has recently been completed (black stars).
With all assays from the drilling received, significant intersections above 1 g/t gold were observed from the ‘Hand of Faith’ target and include:
- 1 metre at 1.48g/t gold from 9.40 metres in hole BPDD005;
- 0.96 metres at 5.70g/t gold from 36.45 metres in hole BPDD006; and
- 1.05 metres at 1.17g/t gold from 46.68 metres in hole BPDD007.
These drilling intercepts are highly encouraging from the very small strike section of veining (<100 m strike extent of one vein system) drilled to date.
This equates to less than 5% of the total outcrop, subcrop and float train-inferred strike of vein systems mapped at Beopseongpo project area.
BPDD005 drill core: 1 metre at 1.48g/t gold and 2.1 g/t silver from 9.40 metres
Most importantly, the quartz vein textures intersected are typical of the upper-most levels of Low Sulfidation vein systems, less than 50 metres below the palaeowater table.
This means the potential for high-grade precious metal mineralisation is preserved and interpreted to be between 100 to 500 metres below the paleo-water table, which has yet to be drilled.
Now that the veins have been intersected, they can easily be targeted down-dip in the next program at Hand of Faith.
Epithermal vein model
Southern Gold managing director Simon Mitchell said: “We are pleased to have successfully executed the maiden drill program at Beopseongpo and confirm the large vein widths at Hand of Faith.
“The results and vein textures are typical of high level low-sulfidation systems and we intend to target these at depth where high grade mineralisation is much more likely in a second phase program next year.
“Beopseongpo has all the right technical characteristics of a large-scale epithermal system and will require several drill programs to fully test the multiple targets in the extensively veined area.