THE DRILL SERGEANT: Southern Gold (ASX: SAU) announced assays for a maiden diamond drilling program undertaken at the company’s Deokon project in South Korea.
Southern Gold carried out the drilling of six scout diamond drill holes at the Bonanza Zone as a first pass drill program to test high gold and silver grades the company had visualed in outcrop with close spaced drilling to determine the true width of the mineralised zone and gold and silver grade at depth.
The company declared the s scout program confirmed mineralisation at depth, albeit at lower grade tenor.
Results from the drilling include:
0.15 metres (0.11m estimated true width (ETW)) at 4.59 grams per tonne gold, 708g/t silver from 42.35m; and
0.23m (0.17m ETW) at 1.13g/t gold, 211g/t silver from 41.77m.
0.34m (True width) at 1.4g/t gold, 8.1g/t silver from 26.78m.
“We are pleased to have been able to drill the first program at the Golden Surprise Trend within such a short timeframe after reconnaissance exploration,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.
“This demonstrates our ability to quickly drill test newly generated targets.
“While these first pass results are lower in grade tenor than expected, plenty of potential remains at our 100 per cent-owned Deokon project, both locally and regionally.
“Clearly the area has seen some rich mineralised fluids with bonanza grade gold and silver on surface and two historical mines, one of which, Shin Hill, has never been drilled at depth.
“Further work is required at Deokon to fulfil its potential, along with Southern Gold’s numerous other exploration projects in South Korea, including several newly defined ones from our project generation initiative, which we will report on shortly.”
Souther Gold also reported on extensive field work completed during November 2019 in three separate districts in South Korea that produced several anomalous gold and silver results.
The three regions investigated were the South Jeolla District surrounding the company’s Neungju project, the Seongju District on the margin of the Gyeongsang Basin and the Yeongdong District surrounding the company’s Weolyu project.
New assays returned a peak of 4.75g/t gold from the Yeongdong District and 930g/t silver from the Seongju District, both from historical mine working dumps.
A new discovery in the South Jeolla District at Daeam Valley, with peak assay of 4.36g/t gold in Float, exhibited classic high-level low-sulphidation epithermal textures similar to Southern Gold’s Neungju project.
“These anomalous results show that there are an incredible number of project opportunities in South Korea,” Mitchell said.
“We know where our target areas are, and it is basically just a matter of putting boots on the ground to cover the areas required and conduct this first pass reconnaissance sampling.
“We intend to increase this effort in 2020 to build a long pipeline of quality projects to unlock the enormous exploration potential of South Korea.”