Ground Magnetic Survey Completed at San Lorenzo

RNS Number : 8499X

Great Southern Copper PLC

10 January 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

10 January 2022

Great Southern Copper plc

("GSC" or the "Company")

Ground-Based Magnetic Survey Completed at San Lorenzo Project, Chile

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, is pleased to announce the completion of the first ground magnetic survey on its San Lorenzo copper-gold ("Cu-Au") project located in the coastal cordillera belt, Chile. The results of the survey are expected to assist GSC with its project-scale geological interpretation and, ultimately, to define and model various drill targets.

The surveyed area comprises the Cerro Blanco - Cerro Chinchillon region in the northern area of the San Lorenzo project and incorporates the Cerro Blanco, Las Hermanas, Chinchillon, San Miguel and Perseverencia prospect zones which collectively comprise GSC's primary alkalic porphyry Cu-Au target area. The survey was conducted by ENFI Chile and the data generated will be processed by Exploregeo (Perth, Australia).

The ground-based survey covers an area of 63.36 km² comprising forty-five E-W profiles each 7.2 km long and spaced 200m apart plus two N-S control tie lines of 8.8 km length. The survey utilised two latest generation Gem Systems magnetometers running Overhauser System which records every second in WalkMag mode collecting simultaneous magnetic field and topography data using differential GPS.

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "We are pleased to complete the first ground magnetic survey covering our principal target at San Lorenzo in Chile. We look forward to receiving the interpretation of the magnetic data and applying it to our knowledge of the San Lorenzo copper-gold system. We also anticipate results from geochemical sampling of trenches which, together with the magnetic survey, will assist us in identifying and designing targets for reconnaissance drilling."

Background on San Lorenzo

San Lorenzo is the Company's principal project and comprises both mining and exploration concessions covering 25,680 ha. The project area includes extensive historical mine workings for high-grade Cu-Au as well as evidence of placer gold workings in two locations. GSC is targeting bulk tonnage porphyry Cu-Au style deposits at San Lorenzo. Porphyry deposits are the world's most important source of copper and molybdenum and are major sources of gold, silver and other metals.

Porphyry-style Cu-Au mineralisation at San Lorenzo occurs as sheeted fracture zones and stockworks hosted within a large, composite, multi-phase pluton of granodiorite-monzonite composition that is further overprinted by a cluster of smaller quartz monzonite intrusions (Rado Monzonites). As much of the project area is covered with scree talus and colluvium, the geophysics survey is designed such that the magnetic data generated will assist GSC's interpretation of the geology, structure and alteration plus compliment the on-going trench mapping and sampling programmes.

Enquiries:

Great Southern Copper plc
Sam Garrett, Chief Executive Officer	[phone]
SI Capital Limited
Nick Emerson	[phone]
Luther Pendragon
Harry Chathli, Alexis Gore, John Bick	[phone]

Notes for Editors:

About Great Southern Copper

Great Southern Copper is a mineral exploration company focused on copper-gold deposits in Chile. The Company has the option to acquire rights to 100% of two projects that are prospective for large porphyry copper-gold deposits in the underexplored coastal belt of Chile, a globally significant mining jurisdiction and the world's largest copper producer.

The two projects comprise the San Lorenzo Project, northeast of the coastal town of La Serena in northern Chile, and the Especularita Project located approximately 170km to the south of the San Lorenzo project. The two early-stage Cu-Au projects are within the same metallogenic belt as major coastal producing operations including Teck's Andacollo copper mine. Significant historical small-scale and artisanal workings for both copper and gold are readily evident in both exploration project areas.

Great Southern Copper is strategically positioned to support the global market for copper, a key metal in the clean energy transition around the world. The Company is planning an exploration and evaluation two-year work programme for the copper-gold projects, targeting principally large tonnage, low to medium grade porphyry style Cu-Au deposits.

Further information on the Company is available on the Company's website: https://gscplc.com

 

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