Southern Gold Confirms High-Grade Weolyu South Zones

THE DRILL SERGEANT: Southern Gold (ASX: SAU) announced completion of a second phase of systematic underground channel sampling at the company’s 100 per cent-owned Weolyu South gold-silver project in central South Korea.

Southern Gold explained the sampling had been designed to infill and extend previous results and as a quality assurance (QAQC) program checking on assaying protocols.

In this new phase of work a total of 18 new channel sample lines were taken as infill or extensional samples and a further 29 lines were re-assayed for 34 samples, from coarse rejects retained from an initial round of sampling carried out in 2017

New samples were collected from three horizons along the historical drives.

Intercepts included:

0.4 metres at 32.8 grams per tonne gold and 764g/t silver;
0.45m at 30g/t gold and 1,280g/t silver; and
0.55m at 28.9g/t gold and 1,350g/t silver.

The company said these newly reported results have continued to produce excellent gold and silver grades associated with the three currently defined high grade zones or shoots.

A review into sample preparation and assaying results was conducted as part of a general QAQC review through a third-party laboratory following indications of statistical variance in the original analysis.

This review returned a variance on all sample fire assay gold results including an average 30 per cent increase in gold grades from the Weolyu samples, a substantial uplift, which the company considers having an impact on economic potential with a clear high-grade gold-silver zone showing greater consistency.

“Weolyu is Southern Gold’s premier exploration target and continues to impress with its very high-grade gold and silver tenor from high quality drill-equivalent channel samples at close to true width on the vein,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.

“This underground channel sampling is on only one vein system while we have identified multiple epithermal quartz veins on surface, most of which remain untested by drilling.

“The company plans to drill the down plunge extension of this very high-grade gold-silver system and the other untested epithermal quartz vein systems in the coming year.”

 

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Website: www.southerngold.com.au