Search

Ounce to the tonne gold for Great Southern near Laverton

Great Southern Mining has scored a major hit from its maiden exploration program at the Cox’s Find project near Laverton in WA, delivering a stellar, ounce to the tonne drill intersection over 5m from 134m. The 5m intersection also included an ultra-high grade 1m section going 143.0g/t.  The drill results are from unmined historical development panels at the now mothballed underground mine between 130m and 170m below surface.

 The intersections appear to validate the historical mining output from the glory days when Western Mining pulled out 107,000 tonnes going 22 grams per tonne gold in adjacent workings during the 1930’s and 1940’s.

Other notable drill results from the latest program are 5m at 14.54g/t gold from 140m, including 2m at 28.85g/t and 8m going 9.43g/t gold from 73m, including 1m at 44g/t.

This is an outstanding result for Great Southern at its Cox’s Find deposit that is located along strike and only 20km south of the Regis Resources operated, multi-million-ounce Garden Well gold mine.

Great Southern Mining Chairman, John Terpu said: “We have achieved our goal of confirming the presence of remnant historical ore and now have a better understanding of the geology.  A robust geological model has been developed utilizing all the recent drilling, geological mapping and new geophysical data.”

“This work has assisted in defining our step out drill targets around Cox’s Find and supported the potential of untested near-mine extensions of the current deposit.  The Company looks forward to progressing our exploration on these targets early this year.”

Management said that multiple high-priority structural targets have now been identified adjacent to Cox’s Find where the company has an estimated exploration target of between 260,000 and 480,000 tonnes with a grade range of between 15-25g/t gold.

The cluster of conceptual exploration targets are analogous to the gold-bearing reef geological model proposed by the company for the Cox’s Find deposit.  The shear zone trend is interpreted to extend northwards from the old pit at Cox’s Find however the company said further exploration is required to test the exploration model.

Statutory approval has been received for an expanded exploration program of geochemical auger and drilling around these anomalies which will commence shortly, according to Great Southern.  These exceptionally good drill hole intersections bode well for the company as it looks to convert an exploration model into gold exploration drilling success.

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®

Total Shareholder Return as at 31/03/20

1 year TSR5 year TSR
74thRey Resources54%-16%
245thRaiden Resources0%0%
259thGreat Southern Mining-3%8%
376thRed Hill Iron-23%-20%
526thResource Mining Corporation-44%20%
669 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Powered by Morningstar ®

Share Transactions

30/10/19
$0 Other
30/09/19
$25k Bought
18/09/19
$0 Other
Total value as at the date of the transaction
Powered by Morningstar ®

Revenue

411th↓Great Southern Mining$0
452nd↓Raiden Resources$0
453rd↑Red Hill Iron$0
455th↓Resource Mining Corporation$0
456th↓Rey Resources$0
478 listed resources companies ranked by revenue.
Powered by Morningstar ®