‘Active explorer, new gold discoveries, elephant country’: This is what sets Great Southern apart
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Special Report: Bolstered by some outstanding drilling results, Great Southern Mining (ASX:GSN) sees the high-grade Cox’s Find and Mon Ami assets as near-term development opportunities in a rising gold market. But these projects are just the entrée, new chief exec Sean Gregory says.
Great Southern has three gold projects, one in Queensland and two in WA, that comfortably stand on their own as sensational exploration and development opportunities.
The explorer recently appointed a new chief exec: Sean Gregory, a geologist with over 20 years’ experience in developing projects and supporting mining operations with BHP Iron Ore, Murchison Metals and Mineral Resources.
Most recently, he was managing director of WA-based cobalt and gold explorer Barra Resources (ASX:BAR) for three years.
Gregory not only adds exploration know-how to the team, but also experience in advancing projects through to development and production, Great Southern says.
“I think that’s my point of difference. My early exposure to the iron ore industry led me to become more of a ‘generalist’ across the industry – working with the finance, economic evaluation and business improvement teams, as well as in mining and exploration,” Gregory told Stockhead.
“It gives me the ability to zoom out and see the bigger picture – how Great Southern’s pipeline of exploration and development projects will lead to both discovery and future commercialisation.”
In the Laverton region of WA, targeted drilling programs continue to build on Great Southern’s early exploration success at the historic high-grade Cox’s Find gold mine, which produced 77,000oz at more than 21 grams per tonne (g/t) between 1935 and 1942.
Cox’s Find has all the hallmarks of a modern underground mine development, the company says.
In August, drilling also hit significant high-grade gold intersections — including 4m at 15.9g/t gold from 26m — at the more advanced 59,000oz Mon Ami project.
Mineralisation remains ‘open’ in multiple directions, with hardly any drilling completed outside the existing resource area.
“At the Cox’s Find and Mon Ami gold projects around Laverton we have that combination of existing resources, red hot drill bit, and overlooked tenure with the opportunity to make even more discoveries,” Gregory says.
The Cox’s Find Project tenure is completely surrounded by gold miner Regis Resources (ASX: RRL) with multiple processing mills within a short distance of the Mon Ami Project.
The strategy there pretty much writes itself, says Gregory.
“Our job is to prove up some high-grade gold resources which will then be very attractive as feed for either Regis Resources or other mills in the region.
“All of the ingredients are there – not only do we have that regional prospectivity and recent discoveries, but there’s a very hungry potential customer next door. It maps out beautifully.”
The Laverton assets have received love in the market, and rightly so. But Cox’s Find and Mon Ami are just the entrée, Gregory says.
“The main course is when we look further afield at our North Queensland assets,” he says.
“Here we have 1,000sqkm in absolute elephant country surrounding Evolution’s low cost, 107,000ozpa Mt Carlton mine which, again, is running out of feed.”
Great Southern is hunting for a Mt Carlton of its own. Less than 15 per cent of the highly prospective Edinburgh Park area has been explored using modern techniques.
“There have been some very promising anomalies uncovered which we are now taking to the next level of detail with soil sampling and field mapping programs,” Gregory says.
“We will be drilling some exciting targets, probably in the first or second quarter next year after wet season breaks.
“This is real tier 1 discovery country. Edinburgh Park could be huge for us.”
In the next week or two, Great Southern will be announcing results from the initial ‘step out’ regional drilling targets at Cox’s Find in the hunt for high-grade ‘lookalike’ orebodies.
“We have stepped out 400m and 1000m to the north [of Cox’s Find] – those drilling results are imminent, but they aren’t the only lookalike targets on the ground we’ve got,” Gregory says.
In October, there will also be some further soil sampling and project updates from Edinburgh Park in North Queensland.
Great Southern’s experienced team and portfolio of projects is enough to satiate any investor.
“Active explorer, recent gold discoveries, elephant country, and hungry neighbours – that is Great Southern Mining’s point of difference,” Gregory says.
This article was developed in collaboration with Great Southern Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.