Great Southern Mining (ASX:GSN) has received an initial $4 million cash payment from Regis Resources (ASX:RRL) for the sale of mining licence M38/1299.
There is potential for a further $5 million in contingent payments tied to gold price thresholds and upon the discovery of further economic mineralisation.
Great Southern Managing Director Matthew Keane says the company is now funded to accelerate gold exploration and resource development at the Duketon Gold Project, with 12,000m to 15,000 planned for the rest of 2025.
Drilling at the Duketon will start in the coming weeks.
At its 100% owned Duketon Gold Project, the company is focused on two prospects – Golden Boulder and Amy Clarke – both hosting shallow, ‘high-grade’ drill intercepts along more than 8km of collective prospective strike.
“In addition, a strong pipeline of targets will be systematically advanced throughout the year. With funding secured for all budgeted exploration programs, the company is well-positioned to deliver sustained exploration momentum in FY26,” says Keane.
In Queensland, high-impact diamond drilling is underway at the exciting Leichhardt Creek and Mt Dillon IP targets, which Keane says is prospective for large-scale intrusive-related gold systems.
“The potential for transformational discoveries makes this a particularly compelling phase of exploration,” he adds.
Great Southern holds 421 km² in the Duketon Greenstone Belt and has a further 438km2 under application.
Along with the advanced Golden Boulder and Amy Clarke prospects, the company has defined over 12 targets spanning from advanced resource definition prospects to early stage structural and geochemical concepts.
Mapping and soil geochemical programs are ongoing to further refine pipeline targets, which will be the subject of drilling programs in calendar year 2026.
Write to Adam Orlando at Mining.com.au
Images: Great Southern
