South Korean specialist Southern Gold Limited (ASX: SAU) has received promising initial assay results from new tenement applications lodged over the historic Goseong copper-gold-silver mine district, and its plans to advance to drill testing in February 2023.
Highlights
• Diamond drilling to start at Goseong in FY23 Q3 after winter on both epithermal-style and intrusive-hosted / porphyry-style gold mineralisation targets. Exploration activities are underway to define targets for scout drill testing, including plans to conduct a drone airborne magnetic survey, soil sampling, and detailed mapping and sampling.
• Drilling at Goseong to be followed by diamond drilling epithermal gold-silver projects Deokon and Dokcheon. Sites to identify potential larger mineralised structures for drill testing are being prioritised using a ground-based gravity survey at Deokon and drone magnetics at Dokcheon.
• Substantial new tenure staked over historic Goseong copper-gold-silver district and extensions comprising 25 new exploration licence applications over 70 square kilometres.
• Mineralisation is hosted in quartz veins and breccias within mine workings up to 800 metres long. Sulphide mineralogy and published peer-reviewed research indicates a hydrothermal-magmatic origin for the veins, indicating the potential for deeper, intrusive-hosted and/or porphyry-style copper-gold-silver, and skarn mineralisation.
• Significant rock chip samples from historic mines returned grades up to 8.15g/t Au, 265g/t Ag and up to 3.32% Cu, and samples from areas peripheral to the known district returned grades up to 0.82 g/t Au, 198 g/t Ag and 3.32 % Cu, indicating the potential for a sizable mineralised system.
• The area is unexplored by modern-day methods, with the only known historical drilling by Government agency KORES reporting downhole results (not true widths) of 21 metres @ 2.5 g/t Au and 54 g/t Ag, and 6.2 metres @ 54 g/t Ag and 1.03% Cu.
Results
The Goseong mining district lies in the southern region of the Masan-Goseong Metallogenic Province of the Cretaceous-age Gyeongsang Basin which hosts approximately 70 Au-Ag-Cu-Pb-Zn sheeted vein deposits as well as hydrothermal pyrophyllite-kaolinite clay deposits
Goseong mining district was South Korea’s main copper producing region from 1915-1945 and 1970-1992 with some 11 small-scale producing underground mines. Historic production records are incomplete, and part of the mining district is held by other companies. The geology is dominated by volcanic-sedimentary basin sediments intruded by sub-volcanic andesite and granodiorite porphyry plugs.
The 25 submitted applications covering approximately 70 square kilometres are over three main historic mines comprising veins systems up to a metre wide and up to 800 metres long, as well as northern and southern licence extensions to the district acquired through reconnaissance exploration along the broad NS to NNW-SSE trend of the district mineralisation
Early sampling results from mine dumps, outcrop and subcrop includes Au up to 8.15g/t Au, 265g/t Ag and Cu up to 3.32%, with strongly anomalous Bi-Pb-Zn-As-Mn pathfinders. The area has received no known modern-day exploration but has been subject of some government investigation and research by the Korean Resources Corporation (KORES – now KOMIR) since the 1970s, including drilling, geophysical and geochemical surveys. The Company is in the process of obtaining this data from KORES for detailed review.
Significant results from historical drilling conducted by KORES reported include 21m (not true width) @2.5g/t Au and 54g/t Ag near Buyeong Mine, and 6.2m@54g/t Ag and 1.03% Cu near Goseong Mine
Next Steps
Goseong is an important new project for the company that it intends to advance to scout drill testing in February 2023, subject to finalising suitable and accessible drill targets. Upcoming field work for drill hole planning comprises detailed rock chip sampling and mapping of historical occurrences and outcrop exposures, soil sampling and spectral analysis of field pulps, and review of KORES data. In addition, planning is underway for a drone-based airborne magnetic survey over selected target areas, schedule to be flown in November-December 2022.
Plans are also underway to progress epithermal gold-silver projects Deokon and Dokcheon to drilling in FY23 Q4 after drilling is completed at Goseong. Work plans include conducting a ground-based gravity survey at Deokon and a drone-based airborne magnetic survey at Dokcheon to identify potential larger, controlling mineralised structures for drill testing. Work will also continue across the company’s wider epithermal gold- silver exploration portfolio to progress the most favourable to future drill testing later in 2023.
For further information please visit: http://southerngold.com.au/
