Great Southern’s new Golden Star gold deposit is a steal
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Special Report: Great Southern is focusing on the new Golden Star gold deposit, part of the three new licence applications that it is acquiring around the Cox’s Find project.
And there are some very good reasons for the company to push Golden Star, which is 4km along strike from the Ben Hur deposit and 32km south of the Garden Well Mill, right to the top of its priority list.
Drilling by Duketon Mining in 2017-18 demonstrated over 600m of continuous mineralised strike that remains open in all directions with notable intersections of 15m grading 6.5 grams per tonne (g/t) gold including 4m at 23.3g/t gold, 50m at 1.8g/t gold including 5m at 9.2g/t gold and 34m at 2.3g/t gold including 12m at 5.3g/t gold.
These thick zones of gold mineralisation with high-grade intersections highlight the excellent potential for the company to define a substantial resource at Golden Star.
Additionally, the open nature of the deposit means that there are multiple opportunities to extend its size through further exploration.
Here’s the best part – Great Southern Mining (ASX:GSN) is picking up Golden Star and the package of three licence applications it is located in for the miserly price of just $75,000.
Upon exercise of the option, the company’s land position in the Duketon Greenstone Belt in Western Australia’s Laverton region will increase nearly 10-fold from 47sqkm to 459sqkm.
“GSN has now cemented its position as a major gold explorer and developer in the Laverton goldfields,” chief executive officer Sean Gregory noted.
“The Golden Star deposit moves to the forefront of our project development pipeline and we plan to immediately commence project evaluation and drill targeting activities.”
The tenement applications were lodged in the first half of 2020 and are progressing through the Western Australian Mines Department’s expedited procedure.
A licence grant is expected during the first half of 2021.
Great Southern plans to collate all of the historical data and immediately start project planning activities with a view to integrating this new exploration ground into its existing portfolio.
It will then kick off an aggressive exploration program on an expedited basis.
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.