Great Southern Mining (ASX:GSN) returns shallow gold grades up to 12.5 g/t

8 October 2024

Price Sensitive Announcement $

Highlights:

• Assays received for targeted 15-hole (~1,950 m) reverse circulation (RC) drilling campaign at GSN’s 100% owned Duketon Gold Project in Western Australia
• Shallow high-grade gold was intercepted in step-out drilling at the Golden Boulder prospect, with significant results including:

  o 4 m at 5.64 g/t Au from 63 m, including 2 m at 9.89 g/t Au in hole 24GBRC0005
  
  o 3 m at 4.80 g/t Au from 18 m, including 1 m at 12.45 g/t Au in hole 21GBRC0007
  
  o 2 m at 3.44 g/t Au from 141 m in hole 24GBRC0001

• The limited hole program has successfully extended the higher-grade mineralised zone at Golden Boulder by 85 m to 370 m total and gold anomalism now extends over 2.3 km with very sparse drilling. A further 1.4 km of prospective strike remains untested to the south.
• Highly encouraging results from GSN’s first drilling campaign at the Boundary prospect with three of the four holes drilled returning intercepts greater than 1.0 g/t gold
• Given the scale and high prospectivity of targets defined at the Duketon Gold Project, GSN now plans to embark upon a multi-phase drill-out program

Overview:

Great Southern Mining Limited has completed a targeted 15-hole(1,946 m) RC drilling program at its 100% owned Duke ton Gold Project, located in the Eastern Goldfields of Western Australia. Drilling primarily focused on the Golden Boulder prospect, testing for depth and strike extensions, before moving on to the newly identified Boundary and Southern Star North targets (Figure 1).

Shallow, high-grade intercepts at Golden Boulder

Golden Boulder sits on a prominent north-south structural trend that is host to multiple gold deposits, including Rosemont (>2 Moz), Baneygo (~380 Koz) and Ben Hur (~390 Koz). The Golden Boulder area has over 50 historical working over a three-kilometre stretch, with historical production (1900 to 1955) recorded at 1,915 tonnes at 28.6 g/t Au for 1,761 ounces of gold (see WAMEX report A85278).

Historical drilling at Golden Boulder is sparse and shallow, with very few holes penetrating beyond 40 m depth. Prior to GSN’s first program in 2021, virtually no drilling was conducted in this area since 1995.

Mineralisation has been delineated along three parallel trends, denoted as the Main line, East line and Ogilvies (Figure 2).

GSN completed eight RC drill holes in September 2024 aimed at testing down dip and along strike extensions. Significant intercepts included:

1 m at 1.08 g/t Au from 36 m and 4 m at 5.64 g/t Au from 59 m, including 2 m at 9.89 g/t Au in hole 24GBRC0005

 3 m at 4.80 g/t Au from 18 m , including 1 m at 12.45 g/t Au in hole 21GBRC0007

 2 m at 3.44 g/t Au from 141 m in hole 24GBRC001

 1 m at 1.67 g/t Au from 21 m and 1 m @ 0.72 g/t Au from 70 m in hole 21GBRC0006

 1 m at 1.24 g/t from 70 m in hole 21GBRC0008

Company Notes:

GSN’s Managing Director, Matthew Keane, commented:
“Golden Boulder continues to return shallow high-grade intercepts. Following several low-metreage targeted drilling programs, we believe this prospect now warrants a significant drill-out to test the 3.7 km prospective trend. Our geological team have proven that mineralised trends are relatively predictable, with step-out hole 24GBRC0005 intercepting mineralisation within 10 m of the modelled target some 85 m south of the previous intercept.

We are also highly encouraged by the early success at the Boundary prospect. We believe this area holds significant potential for gold discoveries given its location along a major structural zone, which lays host to Regis Resources’ +5 Moz Garden Well deposit located 20 km to the north”.

Full ASX Announcement: Microsoft Word – 241007 – RC intercepts up to 12.5 grams per tonne at Golden Boulder_ASX (discoveryalert.com.au)