Great Southern Mining Ltd (ASX:GSN) has cemented its position as a major gold explorer and developer in the Laverton Goldfields in Western Australia after it secured an exclusive, irrevocable option over three large exploration license applications around its Cox’s Find Gold Project in the Laverton region, Western Australia.
With the option, the company’s landholding in the Duketon Greenstone belt is expected to increase about 10 times from the current 47 square kilometres to 459 square kilometres.
The option includes the Golden Star Deposit which Duketon Mining Ltd (ASX:DKM) (FRA:DKN) drilled in 2017-18 to demonstrate over 600 metres of continuous mineralised strike length, open in all directions.
Major gold explorer
GSN chief executive officer Sean Gregory said: “GSN has now cemented its position as a major gold explorer and developer in the Laverton goldfields.
“The Golden Star Deposit moves to the forefront of our project development pipeline and we plan to immediately commence project evaluation and drill targeting activities.
“Our exploration footprint in the immediate region has expanded by almost 10 times to now total 459 square kilometres, a tenement base we plan to aggressively explore.”
Option details
GSN has secured the option over the three exploration licenses, which are currently under application, from private company, GC Explore Pty Ltd, upon the granting of the licenses.
The three exploration license applications are E38/3477, E38/3488, and E38/3501.
The consideration for the option and the cost of exercise, totals $75,000, with $25,000 payable immediately and two milestone payments of $25,000 due on the grant and transfer of the second and third exploration licenses.
Golden Star Deposit
The Golden Star Deposit is 4 kilometres strike to the south of the Ben Hur Deposit and 32 kilometres south of the Garden Well Mill, both owned by Regis Resources Ltd (ASX:RRL) (OTCMKTS:RGRNF) (FRA:RKQ).
Best drill intersections at Golden Star, previously reported by Duketon include:
- 15 metres at m @ 6.5 g/t gold including 4 metres at 23.3 g/t;
- 50 metres at 1.8 g/t incl. 5 metres at 9.2 metres at and 6 metres at 2.9 g/t;
- 50 metres at 1.6 g/t incl. 17 metres at 3.8 g/t;
- 34 metres at 2.3 g/t incl. 12 metres at 5.3 g/t;
- 25 metres at 2.5 g/t incl. 5 metres at 10.7 g/t;
- 35 metres at 1.4 g/t incl. 11 metres at 2.9 g/t;
- 12 metres at 4.0 g/t incl. 8 metres at 5.9 g/t;
- 26 metres at 1.6 g/t incl. 5 metres at 6.3 g/t;
- 15 metres at 2.2 g/t incl. 4 metres at 7.4 g/t; and
- 20 metres at 1.5 g/t incl. 7 metres at 3.5g/t.
Next Steps
The tenement applications were lodged in the first half of 2020 and are progressing through the WA Mines Department’s expedited procedure.
License grant is currently anticipated in the first half of 2021.
GSN plans to collate all of the historical data and immediately commence project planning activities with a view to integrating this new exploration ground into its existing portfolio and commencing aggressive exploration of it on an expedited basis.