Australian junior miner Southern Gold Limited has completed field work in the Jinan and Neungju Basins in South Korea, which has confirmed new gold mineralised areas that warrant follow up work.
The intensive reconnaissance sampling program involved 238 new samples being taken and submitted for analysis. Several rock chip and float samples returned anomalous grade gold results.
Work included field traversing and extensive rock sampling. This process has succeeded in finding multiple untested vein systems in addition to very small-scale historical mine workings.
The two regions investigated were the Neungju Basin surrounding Southern Gold’s Neungju Project, including follow up sampling at Daeam Valley (identified in November 2019), and the Jinan Basin surrounding Southern Gold’s Deokon Project.
Southern Gold Managing Director, Mr Simon Mitchell said the gold results continue to validate the project generation methodology in South Korea and highlight that the company is finding new areas of gold mineralisation approximately every 4-6 weeks of field work.
“This first pass reconnaissance sampling is fundamentally increasing our drill target pipeline by organically converting technical concepts to project status and typically in areas that have never been drilled before.”
“With our drill operations currently continuing in South Korea, notwithstanding the COVID-19 disruption, we expect a solid stream of news flow during the next few months and indeed for the balance of 2020, a unique position for a gold junior to be in.”
- Outcrop and float sample assays from the February-March 2020 reconnaissance field programs in South Korea confirm two new discovery areas.
- A peak of 3.05g/t gold from a group of nine highly anomalous samples from the Jinan Basin confirming the Geum-Mar discovery area; and
- A peak of 3.49g/t gold from a group of 20 highly anomalous samples from the Neungju Basin confirming the Daeam Valley discovery area.
- Consistent mineralisation identified at Daeam Valley with thirteen samples returning values >1g/t gold over a strike- length of >1km, open in both directions.