Southern Gold Ltd (ASX:SAU) has received strong gold and silver assays from two holes drilled in March and April to test the southwest and southeast shoot extensions of the Deokon Main Mine in South Korea.
Both drill holes intersected the targeted main fault structure that hosts the Deokon Main Mine vein, marked by a sharp lithological change to a distinct bedded volcaniclastic unit in the footwall, however mineralised quartz lode extensions of the mine vein were not encountered in drilling.
Elevated silver and gold grades were returned in the hanging wall intercepts of DKDD015, including 1.1m (metre) at 5.83 g/t Au (gold) and 27.6 g/t Ag (silver), 1m at 1.3 g/t Au and 5.5 g/t Ag, and 1m at 0.2 g/t Au and 49.2 g/t Ag, together with strong silica-illite-pyrite alteration and network veining downhole.
Location map of Deokon drilling conducted Feb-April 2023.
These results highlight the extent and silver-rich nature of the Deokon epithermal system, and the geologic potential for Au-Ag mineralisation to be discovered along strike in the hanging wall, and in quartz lode shoots along the main structure.
Detailed interpretation and review of drill core and assay results are in progress.
Assays are also pending for DKDD016 drilled for 202.5 m at the Bonanza Zone at Golden Surprise Trend 2 kilometres east of the Deokon Main Mine.
Goseong Cu-Au Project
Southern Gold completed the first drill hole at Goseong for 151.4m last week, targeting the historical Goseong Mine.
GSDD001 successfully intercepted the planned target, comprising a 10m wide breccia zone within andesitic volcanics.
Read: Southern Gold moves drilling to Goseong following successful program at Deokon
Logging and sampling are underway with assays anticipated to be returned in mid-June.
Drilling commenced this week on a second Goseong hole, GSDD002, targeting the Bupo co-incident geophysical and geochemical anomaly.
Updates on drilling progress will be provided next month.
Lithium and rare earth element (REE) exploration
Fieldwork continues to advance at Southern Gold’s critical minerals projects following the lodging of exploration licences earlier this year for REEs and lithium.
Stream sediment sampling, mapping, and rock chip sampling are progressing at high-priority projects, including at Samguen Lithium Project, located 2km from historical Boam Lithium Mine, and at Chungju and Jangnam REE projects, located adjacent to unmined REE deposits held by third parties.
Fieldwork at Jangnam this month has found carbonatite outcrop, and samples have been sent for REE analysis at ALS Laboratories.
The assays have been expedited, with results anticipated to be returned in 3-4 weeks.
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