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    Significant epithermal target at Southern Gold’s Beopseongpo

    Australian gold company Southern Gold Ltd (ASX: SAU) has announced a highly positive update from its recently completed field work at Besopeongpo Gold Project in south-western Korea.

    The company said that according to the detailed field report, Beopseongpo Au Project is a very significant epithermal Au (+Ag) target with multiple well-defined and extensive vein systems that are ready for drill testing.

    SAU noted that the recently completed field work identified five major veined zones with width in excess of 20 metres and combined strike length in excess of 2,570 metres. The field work included geo-structural, mineralisation and alteration mapping over 5.7km2 area.

    The company said that the recently located small-scale historical mining below low-grade Au anomalism supports drill target at depth. It may be noted that multiple project characteristics have parallels with many economic gold mines of this type observed globally.

    SAU reported that drilling is expected to commence at Beopseongpo in the near term with drill rig deployment expected in the coming months.

    Beopseongpo gold project

    The Beopseongpo Gold Project is located in the Jeolla Province in south-western Korea.

    Beopseongpo is a highly prospective low-sulphidation epithermal gold-silver vein and vein breccia target with significant scale and with the main zone of gold mineralisation likely preserved at around 100-500 metres below surface.

    SAU’s recent work programme consisted of geo-structural, mineralisation and alteration mapping over two granted graticules, Beopseongpo 29 and 30, covering an approximate 5.7km2 area.

    Five major vein zones identified

    The company reported that the recently completed field work identified five major vein zones, with possibly more hidden under cover rocks.

    The vein segments have been individually mapped up to 500 metres in strike extent and on a combined basis up to 2,570 metres. These vein zones are ~20 metres wide with individual vein widths commonly in excess of 1m true width.

    SAU said that all five vein zones, Golden Palm, Lotus (North, South, and Extended sections), Hand of Faith, Phoenix, and Enigma, returned weak to moderate anomalous gold and silver values with peaks of 31.9 g/t Au and 23.5 g/t Ag.

    Historical small-scale mining

    SAU said that the recent field work has also uncovered two historical Japanese occupation-era adits as evidence of small-scale historical mining in the area.

    These have reinforced the technical thesis that the surface expression of the mineralised zone is of an uneroded upper level of a low-sulphidation epithermal system with economic grades of gold potentially 100m to 500m below the present day land surface.

    Parallels with Global Economic gold mines

    The company said that the quality of the Beopseongpo Au Project is based on a comparison to others of its type observed globally.

    They typically have the key features like well-developed and persistent fault structures that are active over long time periods and displaying evidence of dilation and multiple fluid flow events; a rock sequence that is amenable to the focusing of metal-bearing fluid flow into substantial veined zones over considerable strike lengths; the demonstrable presence of a precious metal bearing fluid source that shows evidence of boiling; and limited erosion of the system which preserves the main zone of precious metal deposition below the present-day land surface.

    What’s next?

    Recent detailed field work at Beopseongpo, South Korea, has identified it as a highly prospective low-sulphidation epithermal gold-silver vein and vein breccia target displaying significant scale in terms of width and strike extent of the mineralised structure and at individual quartz vein and vein breccia scale.

    The most recent phase of sampling included 208 float, subcrop and outcrop samples of largely vein breccia with gold tenor around the 1g/t Au.

    The company said that Golden Palm, Lotus North, and Hand of Faith would be the immediate drill targets, with results expected in the next quarter.

    Management comments

    Southern Gold Managing Director, Mr. Simon Mitchell said: “Southern Gold’s technical team, which includes senior advisor Doug Kirwin, is very excited by the prospectivity of the Beopseongpo project. It ticks a lot of the key technical boxes and represents an opportunity to discover a gold system of significant scale.

    While the surface gold results are relatively low grade this is what we expected from a system at this high level of exposure. If our technical model is correct the main mineralised system is likely 100m below surface and, given the textural and alteration evidence we have uncovered so far, there is a very good chance we will find very high-grade gold mineralisation.

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    • Delayed Prices (USD) - Last Updated 27-06-2022
    • Gold $1,826.40
    • Silver $21.14
    • Platinum $908.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $113.98
    • Aluminium $2,456.00
    • Cobalt $72,400.00
    • Copper $8,381.00
    • Lead $1,915.00
    • Nickel $22,400.00
    • Tin $24,590.00
    • Zinc $3,350.00