THE DRILL SERGEANT: Southern Gold (ASX: SAU) received results from the first pass scout drilling program undertaken at the Lotus North and Hand of Faith prospects at the company’s Beopseongpo project in South Korea.
Southern Gold said the drilling had confirmed major epithermal system at Beopseongpo with best results achieved at the Hand of Faith prospect, including:
1 metre at 1.48 grams per tonne gold from 9.4m in hole (True width);
0.96m at 5.7g/t gold from 36.45m in hole (Est. 0.67m True width); and
1.05m at 1.17g/t gold from 46.68m in hole (True width).
The company said it was encouraged by these results as they come from a very small strike section of veining (<100m strike extent of one vein system) drilled to date, which equates to less than five percent of the total outcrop, subcrop and float train-inferred strike of vein systems mapped at Beopseongpo project area.
Southern Gold noted that the quartz vein textures intersected were typical of the upper-most levels of Low Sulfidation vein systems, less than 50 metres below the palaeowater table, which it has interpreted to mean the main potential for high-grade precious metal mineralisation is preserved and interpreted to be between one hundred and five hundred metres below the paleo-water table, which has yet to be drilled.
Now that the veins have been intersected, Southern Gold suggests they can easily be targeted down dip in the next program at Hand of Faith.
“We are pleased to have successfully executed the maiden drill program at Beopseongpo and confirm the large vein widths at Hand of Faith,” Southern Gold managing director Simon Mitchell said in the company’s announcement to the Australian Securities Exchange.
“The results and vein textures are typical of high level low-sulfidation systems and we intend to target these at depth where high-grade mineralisation is much more likely in a second phase program next year.
“Beopseongpo has all the right technical characteristics of a large-scale epithermal system and will require several drill programs to fully test the multiple targets in the extensively veined area.”