Great Southern shares hit multi-year highs in the wake of more good news at Cox’s Find
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Special Report: Excitement is building off the back of Great Southern’s latest drilling program, which revealed ‘visible gold’ in the drill core.
For Great Southern Mining, momentum continues to build for its gold project at the historic Cox’s Find mine, in WA’s Erilstoun Goldfields.
Investors have been following more closely since Great Southern’s maiden drilling program late last year, which yielded some strong results and proved that high-grade gold mineralisation remains in the mine.
And this morning, the company announced more good news; evidence of ‘visible gold’ in the diamond drill core from hole 20CFRCD0004, which intersected the Cox’s Find main lode at a depth between 164.6m to 165.8m.
Chief operating officer Mark Major said the company’s geological team was now processing the core to glean insights about the structural orientation of the deposit. The information will then be used to develop geological models for further drilling.
“This is a very exciting time for the company – seeing multiple occurrences of visible gold in the drill core is always a good sign,” Major said.
Investors agreed, sending shares in Great Southern more than 15 per cent higher to 15c this morning – the highest trading level since 2012.
Major added that analysis of the drill core from hole 20CFRCD0004 – which was the first diamond drill hole through the mineralised sequence – provided “invaluable insight to the geological setting and the potential existence of high-grade mineralisation”.
Once processing has been completed on the first two drill cores, Great Southern plans to complete three more holes as part of the first phase, two of which will be down plunge from 20CFRCD0004.
“Phase two will consist of approximately 4000m of RC drilling, focusing on several other near-mine targets and following up on results from the initial phase,” Great Southern said.
In addition, the company plans to commence drilling at its Mon Ami gold project, located 12km south of Laverton, Western Australia, later this week.
The current program marks the first diamond drilling operation into the main load at the historic Cox’s Find site, which produced 77,000 ounces at more than 21 grams per tonne (g/t) between 1935 and 1942.