Southern Gold Ltd (ASX:SAU) has continued a high level of activities on the ground in South Korea during the March quarter with the focus remaining on the diamond drill programs and reconnaissance rock sampling at the Beopseongpo project.
Following a $4 million capital raise in two trenches, with $2.17 million completed and the second tranche of $1.83 million subject to shareholder approval in early May, Southern Gold is in a position to complete drilling on multiple targets and exploit its first mover' advantage in South Korea.
The company has demonstrated it can manage drilling programs during the COVID-19 pandemic with South Korea emerging as a leader in effective crisis management.
Around 758 metres of diamond drilling has been completed at Beopseongpo at the Golden Palm, Hand of Faith and Spider prospects.
Drilling schedule[hhmc]
The pace of upcoming drilling will be increased in the June quarter, with two rigs operating from late March.
The fourth deeper hole at Hand of Faith will be completed, which has been designed to test around 75 metres beneath the hanging wall vein intersection in hole BPDD012 and to intersect the footwall vein around 215 metres below surface.
Three planned holes at the Spider prospect will also be completed.
The immediate plan after this is to drill three holes underneath Shin Adit at the Deokon Project and two to three holes at the Aphae Project, before moving the rig to the WeRead More – Source
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