2022 Exploration Campaign begins at Especularita
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED, ("MAR") AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
6 April 2022
Great Southern Copper plc
("GSC" or the "Company")
2022 Exploration Campaign Commences at Especularita Project, Chile
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, is pleased to announce that it has commenced systematic on-ground exploration at its Especularita copper-gold ("Cu-Au") project located in the coastal metallogenic belt of northern Chile.
The Especularita project comprises 19,076 hectares of exploration and mining concessions, both granted and in the process of being granted, and the Company holds option rights to acquire a 100% interest in the project.
The Company's exploration programmes at Especularita, targeting porphyry-epithermal style Cu-Au mineralisation, will comprise regional to prospect-scale mapping, sampling (rock, soil, stream) and geophysics work, designed to identify prospects for targeted drilling campaigns.
Previous reconnaissance exploration by GSC has identified porphyry to epithermal style Cu-Au mineralisation associated with an extensive advanced argillic litho-cap, centrally located at the intersection of major structures and the contact of a large granodiorite intrusion with overlying volcanic rocks. Such litho-cap alteration is characteristic of the tops of porphyry copper systems, including for example Teck's 50,000 t/y Carmen de Andacollo copper mine, located along trend from Especularita.
Small-scale artisanal workings and mines, targeting high-grade Cu-Au mineralised structures, are prominent around the base of the litho-cap alteration zone. Historical processing plants and tailings dumps provide further evidence in the district of a once active mining culture, which has not benefited from significant modern-style exploration.
San Lorenzo
At the Company's San Lorenzo project, exploration continues on the Phase III trenching programme in conjunction with detailed mapping and sampling of monzonite intrusions. This work is progressing toward defining potential targets for drilling proposed to start in May-June of this year, subject to rig availability and permitting approvals.
Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "We are pleased to begin our exploration campaign at the Especularita project, where previous geological mapping and sampling work has identified multiple large-scale targets and supports evidence of a complete porphyry-epithermal system prospective for copper-gold."
Charles Bond, Chairman of Great Southern Copper, said: "The Board recently visited Especularita and San Lorenzo and is impressed by the quality of the projects and the opportunity they provide to the Company. It is exciting to be actively exploring our two large scale exploration projects in Chile, the largest copper producing country in the world, and we look forward to updating our shareholders as we progress both projects toward drilling stage."
In addition to this release, a PDF version with supplementary information and images can be found on the Company's website: https://gscplc.com
Enquiries:
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Great Southern Copper plc |
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Sam Garrett, Chief Executive Officer |
+44 20 7618 9100 |
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SI Capital Limited |
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Nick Emerson |
+44 (0)14 8341 3500 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, Tan Siddique |
+44 20 7618 9100 |
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 style 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 and gold 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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