Great Southern dials in on two large gold-copper systems at Leichhardt Creek
Two significant, large geochemical soil anomalies discovered at Leichhardt Creek prospect are consistent with company-making Intrusive Related Gold Systems (IRGS), says Great Southern Mining (ASX:GSN).
Leichhardt Creek is part of the 1000sqkm Edinburgh Park Project in north Queensland; a region that Great Southern calls ‘elephant country’.
This is where miners and explorers go hunting for company-making tier 1 deposits.
The results of a recent soil and rock chip sampling program have mapped a vast (kilometre-scale) geochemical alteration system consistent with an Intrusive Related Gold System (IRGS) exhibiting strong associated metal content.
Notable IRGS deposits in North Queensland include Kidston (5 million ounces), Ravenswood (8moz) and Mt Leyshon (3.5moz).
Great Southern says field evidence adjacent to one of those major geochemical anomalies — including high-grade copper, gold and silver rock chip samples — is also consistent with epithermal mineralisation of a high-sulphidation style similar to Evolution’s (ASX:EVN) nearby Mt Carlton mine.
“The analysis of the recently extended soil surveys at Leichhart Creek, at the company’s Edinburgh Park project, presents compelling evidence of circular metal zonation trends consistent with kilometre-scale intrusive related gold-copper systems,” chief exec Sean Gregory says.
“This evidence is backed up with field observations of mineralised outcrops around the margins of the defined anomalies, especially at Green Ant and the Rocky Ponds Breccia.”
In 2019, drilling at Rocky Ponds intersected significant zones of mineralisation including gold up to 0.2 g/t, silver up to 49.7 g/t, and copper up to 0.44 per cent.
These low-grade hits could be a halo or ‘signpost’ to something much bigger and higher grade.
“As the wet season passes, our geologists will be back in the field next week to validate and further refine the targets with an aim of progressing the targets to the drill testing stage,” Gregory says.
“Analysis of further soil surveys at nearby prospects is also underway.”
Other targets at Fish Creek, Spring Creek and Edinburgh Castle are also being progressed with further market updates planned.
Further ground truthing is planned ahead of targeted drill testing later in 2021, the company says.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.