Special Report: Great Southern Mining’s very first drill attack at Cox’s Find has delivered high-grade shallow gold and it looks as if it’s just the tip of the iceberg.

The drilling of three holes by Great Southern (ASX:GSN) at the Western Australian project delivered grades of as high as 68 grams per tonne (g/t) gold, with drill depths starting at just 74m.

The most notable results were 2m at 9g/t from 76m, 3m at 16g/t including 1m at 44g/t from 74m, and 2m at 36g/t including 1m at 68g/t from 146m.

But that is just the start.

Chairman John Terpu said the exceptional quality of the intersections in the first three drill holes provided confirmation that the mineralisation style and grade at Cox’s Find was consistent with what was previously mined there by WMC.

“We’ll demonstrate that it’s open in every direction,” he told Stockhead.

“We believe this is a stacked reef system. There could be two or three underneath the old workings. These results provide us with a good understanding of the deposit to start testing deeper extensional targets.”

All holes drilled so far have visibly intersected quartz reefs consistent with the ‘Cox’s Find-style’ mineralisation.

Plan view of drill hole collars (supplied)

Terpu said stage one has been designed to resource the remnant material on surface and the results of the stage two drilling program is demonstrating that there is ultra-high-grade mineralisation remaining.

“The Project is exciting because it is so close to nearby infrastructure and operating mills and these results indicate there is a high probability that there is ultrahigh-grade remnant ore left behind by Western Mining Corporation.

A valuable piece of history

Cox’s Find remains an absolute treasure trove to this day. Drilling below 60m depth is virtually non-existent – incredible, after all this time — and yet original owner WMC mined down to 139m.

Instead of drilling, WMC explored by sinking shafts and drives to test the gold content of the mineralised quartz veins by hand.

These historic underground workings delivered ~76,000 ounces of gold at an average recoverable gold grade of 22.6g/t between 1936 and 1942.

And in the 1930s gold was selling for about $US34/oz, so to be profitable WMC would ignore any ore grading below ~12g/t.

At today’s gold prices above $US1450/oz, anything +5g/t is generally considered high grade.

“We’ve managed to get some really important data out of all this to understand the geology and got some great hits,” Terpu said.

“We’ve also done some geophysical work and we’ll be doing some soil sampling, so it’s just building on that baseline information and hopefully hit the ground running next year with a lot of knowledge and know where to drill.”

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Read more:

Great Southern more than doubles gold drilling at Cox’s Find

Institutions, high net worths jump into Great Southern ahead of company making drill program

Great Southern is about to embark on a company changing drill program at Cox’s Find

 

This story was developed in collaboration with Great Southern, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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