Great Southern Mining shares rise after discovering near-mine gold targets at Coxs Find Project

By Deputy Chief EditorApril 22, 2020

137 1 minute read

Great Southern Mining Ltd (ASX:GSN) shares traded almost 17% higher intra-day after discovering three major anomalous gold-bearing geochemical signatures at the Coxs Find Gold Project in WA.

Importantly, the results support previously identified structural targets and near-mine prospectivity of the project.

Shares were as much as 5.2 cents intra-day and are up from 3.2 cents on March 9.

Background[hhmc]

The Coxs Find Gold Project is a shear hosted Archaean orogenic gold deposit in the Duketon Greenstone Belt, along strike from and within 12 kilometres of Regis Resources Limiteds (ASX:RRL) multi-million ounce Garden Well.

The objectives of the recently completed exploration program was to geochemically survey prospective terrain around the Coxs Find deposit and identify alteration footprints associated with Coxs Find-style orogenic gold mineralisation through similar pathfinder geochemical signature.

The results were successful in identifying a number of geochemically anomalous zones exhibiting significant associations with gold and associated key pathfinder elements, many of which correspond with prospective shear zones.

Gold in soil plot showing key structural features and defined anomalous zones

GSN executive chairman John Terpu said: “Knowing the history of this project, we are excited to be revealing more through our disciplined, staged exploration efforts.

“These results are not only encouraging but will be highly beneficial for future exploration at Coxs Find.

“The project is advancing well considering GSN only commenced exploration in late 2019.

“We are looking for more of these high-grade systems and potentially another high-grade 22g/t Coxs Find deposit.”