Southern Gold Ltd (ASX:SAU)’s maiden first-pass drill program at its Goseong Project in South Korea has highlighted the scale of the copper-gold-silver system, with assay results from all three holes revealing wide zones of alteration and low-grade mineralisation.
Goseong was pegged by Southern Gold last September before undergoing a program of drone geophysics, soil sampling and geologic mapping.
Between May and June this year, three diamond drill holes were sunk at the project for a total of 661 metres, following the completion of drilling at the company’s Deokon Gold-Silver Project.
Drilling was designed to test for down-dip extensions and shoots of historically-mined vein systems and to test for potential deeper intrusive related or porphyry-style copper-gold mineralisation.
Assay results are in
All assay results from the Goseong drill program have now been received, including a result in the first drill hole (GSDD001) of 1 metre grading 3.65 g/t gold and 6 g/t silver, targeting depth extensions of the Goseong Mine vein.
The second (GSDD002) and third (GSDD003) drill holes, drilled to depths of 304.3 metres and 205.3 metres respectively at the Bupo target, intercepted wide zones of copper-gold-silver anomalism in altered andesite associated with cross-cutting altered monzonite porphyry intrusions.
Southern Gold highlights that drill core from the second hole found rare, yet significant, unidirectional solidification textures — a specific type of the magmatic layering — that indicates the potential for the discovery of porphyry-style copper-gold deposits at Goseong.
Despite the lack of significant drill results from this first-pass program, the company said that the large extent of alteration and low-grade copper-gold-silver mineralisation highlighted the considerable scale of the Goseong copper-gold system.
In particular, results from the Bupo Target (NYSE:TGT), which has no known historical workings, have demonstrated good potential for locating porphyry-style or intrusion-related copper-gold mineralisation and represent a new target type in addition to shallower, high-grade veins.
The company says the results to date warrant further work and it is now seeking interest in its precious metals projects from potential joint venture partners while focusing the immediate exploration priority at its rare earth elements and lithium projects.
Strong potential for mineralisation
Southern Gold managing director Robert Smillie said: “As a maiden first-pass drill program the significant amounts of alteration and broad anomalous [copper-gold-silver] values in drill core highlights the scale and potential of the Goseong copper-gold system.
"The drilling of the Bupo Target, delineated by the SAU geological team, has demonstrated strong potential for locating significant porphyry style or intrusive hosted mineralisation in the vicinity.
“All recently returned results from the Goseong drilling will be subject to further interpretation and investigation by the geological team, and future work will be determined in conjunction with wider exploration priorities and plans going forward, including seeking interest in our precious metals projects from potential joint venture partners.”