Diamond Drilling Commences at San Lorenzo Project
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.
11 July 2022
Great Southern Copper plc
("GSC" or the "Company")
Diamond Drilling Commences at San Lorenzo Cu-Au Project, Chile
Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold exploration in Chile, is pleased to announce that reconnaissance diamond drilling has commenced at its San Lorenzo project in Chile.
The proposed programme will target four individual prospect zones across the project with a total of 2,000-2,500m of diamond drilling (10-15 holes each at 100-300m depth). The drilling will test multiple styles of copper-gold ("Cu-Au") mineralisation and will enhance the geological understanding of the mineralised system at San Lorenzo and provide vectors for further exploration including follow-up drilling programmes.
Anomalous copper-gold hosted in sheeted vein swarms cutting granodiorite will be tested at both the Central and Chinchillon prospect zones. The sheeted vein mineralisation shows similarities to alkalic-style porphyry Cu-Au mineralisation.
Outcropping copper and gold mineralisation hosted within the upper cuppola zone of monzonite intrusives (exhibiting unidirectional solidification textures or UST) will be tested with shallow drilling (100-200m) at both the Las Hermanas prospect zone as well as the Cerro Blanco prospect zone.
Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "We are excited to be starting the Company's first drilling campaign at San Lorenzo. The shallow drilling programme targeting surface geology and geochemical anomalies at multiple prospects will significantly enhance our understanding of the broader mineralised system at San Lorenzo. The alteration and mineralised system at San Lorenzo is very large and this programme will be critical to further refine our targets for on-going exploration."
Especularita Project:
As announced in April 2022, systematic geological mapping and rock chip sampling commenced at GSC's Especularita project in Chile. The extensive concession area at Especularita encompasses numerous styles of mineralisation related to Cretaceous intrusives and the overlying volcanics, ranging from gold-rich vein swarms and copper-bearing breccia pipes in the intrusives, to advanced argillic lithocap in the volcanics. This phase of work will identify targets for detailed follow-up exploration such as trenching, geophysics and reconnaissance drilling.
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 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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