Phase II Resource Drilling Commences at the Mostaza Cu-Ag Deposit, Cerro Negro
Two diamond rigs mobilised to expand resource and test exploration targets
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and silver exploration in Chile, is pleased to announce that Phase II drilling has commenced at its Mostaza Cu-Ag prospect, Cerro Negro.
Highlights:
· Phase II drilling commenced at Mostaza utilising two diamond drill rigs
· Drilling to target depth and strike extensions to high-grade Cu-Ag mineralisation following results of CNG25-DD0011
o 20m @ 3.31% Cu and 270g/t Ag from 27m, including
o 7m @ 5.72% Cu and 490g/t Ag from 31m
· Exploration drilling along trend south of the Mostaza pit also planned
· Initial plans are to drill approximately 1,000-1,500m with additional drilling subject to results
· Results for Phase II drilling to assist commencement of metallurgy and geotechnical studies
· Core samples for Phase I drill holes CNG25002 – 009 are at ALS Laboratories with assay results pending
Sam Garrett, Chief Executive Officer of Great Southern Copper, said: “Following the exciting results delivered by the first hole of our Phase I drill programme, our team in Chile is champing at the bit to get started with the Phase II drilling at Mostaza.
“This programme represents a significant escalation of activity at Cerro Negro and aims to take maximum advantage of the Phase I drilling permit process which allowed for drilling to April of this year. Preparations to extend the drilling time-frame are also in progress.
“Besides continuing to deliver important information regarding the geology of the Mostaza deposit, the results for this drilling will also contribute to the commencement of metallurgical and geotechnical studies.”
GSC Commences Phase II Drilling at Mostaza Cu-Ag mine, Cerro Negro
Two diamond drill rigs, from Chilean company R. Muñoz based in nearby La Serena, arrived on site on Monday 10 March and have commenced drilling operations including environmental and safety inspections and inductions.
One rig is positioned within the Mostaza mine pit area to test for depth and strike extensions to the known mineralisation intersected by Phase I drillholes CNG25DD001 – DD005, including CNG25DD001 which intersected 20m @ 3.31% Cu and 269.89 g/t Ag from 27m depth1.
The purpose of this drilling is to expand the historical resource area on a semi-regular grid pattern that will, if results warrant, allow progression to a new JORC resource estimate.
The second rig is positioned approximately 500m along strike to the south where it will test new exploration targets below and around Lens 4, where limited historical drilling reportedly failed to reach the intended target mineralisation.
Results for the Phase II drilling will also be used to commence metallurgical and geotechnical studies.
References:
1. RNS 5182Y_LSE_Cerro Negro assays return 20m @3.3% Cu & 270g/t Ag
Enquiries:
|
Great Southern Copper plc |
|
|
Sam Garrett, Chief Executive Officer |
+44 (0) 20 4582 3500 |
Notes for Editors:
About Great Southern Copper
Great Southern Copper PLC is a UK-listed mineral exploration company focused on the discovery of copper-gold and lithium deposits in Chile. The Company has the option to acquire rights to 100% of two projects in the under-explored coastal belt of Chile that are prospective for large scale copper-gold deposits. Chile is a globally significant mining jurisdiction being the world’s largest copper producer.
The two, early-stage Cu-Au projects comprise the San Lorenzo and Especularita Projects, both located in the coastal metallogenic belt of Chile which hosts significant copper mines and deposits, including Teck’s Carmen de Andacollo copper mine, and boasts excellent access to infrastructure such as roads, power and ports. Significant historical small-scale and artisanal workings for both copper and gold are readily evident in both exploration project areas.
Great Southern Copper is strategically positioned to support the global market for copper- a critical battery metal in the clean energy transition around the world. The Company is actively engaged in exploration and evaluation work programmes targeting both large tonnage, low to medium grade Cu-Au deposits as well as high-grade Cu-Au deposits.
Further information on the Company is available on the Company’s website: https://gscplc.com
