Precious metals explorer Southern Gold (ASX:SAU) is continuing to advance fieldwork at the Chungju Rare Earth Element (REE) Project, which hosts the 2 only known REE deposits in South Korea.
The company applied for the exploration licences for Chungju in March 2023 and notes stream sediment sampling, mapping, and rock chip sampling are progressing at ‘high-priority’ projects, including the Samguen Lithium Project, located 2km from the historical Boam Lithium Mine, and at the Chungju and Jangnam REE projects, located adjacent to unmined REE deposits held by third parties.
Fieldwork conducted at Jangnam this month has found carbonatite outcrop, with samples dispatched for REE analysis at ALS Laboratories. These assays have been expedited, with results anticipated to be returned in the next 3-4 weeks.
Fieldwork conducted at Jangnam this month has found carbonatite outcrop, with samples dispatched for REE analysis at ALS Laboratories
Meanwhile, Southern Gold reports it has received assays for 2 drillholes completed in February and early April 2023 at the Deokon Gold-Silver Project.
The company reports holes DKDD014 and DKDD015 tested the southwest and southeast shoot extensions of the main Deokon Mine. Both holes intersected the targeted main fault structure that hosts the Deokon Main Mine vein, marked by a sharp lithological change to a distinct bedded volcaniclastic unit in the footwall, though mineralised quartz lode extensions of the mine vein were not encountered in drilling.
Elevated silver and gold grades were returned in the hanging wall intercepts of DKDD015, including 1.1m @ 5.83 grams per tonne (g/t) Au and 27.6g/t Ag, 1m @ 1.3g/t Au and 5.5g/t Ag, and 1m @ 0.2g/t Au and 49.2g/t Ag, together with ‘strong’ silica-illite-pyrite alteration and network veining downhole.
Southern Gold says these results highlight the extent and silver-rich nature of the Deokon epithermal system and the geologic potential for gold-silver mineralisation to be discovered along strike in the hanging wall, and in the quartz lode shoots along the main structure.
Detailed interpretation and review of drill core and assay results are in progress. Assays are also pending for DKDD016, drilled for 202.5m at the Bonanza Zone at Golden Surprise Trend 2km east of the Deokon Main Mine.
Additionally, Southern Gold completed the first drillhole at the Goseong Copper-Gold Project for 151.4m last week, targeting the historical Goseong Mine.
The company says hole GSDD001 intercepted the planned target, comprising a 10m wide breccia zone within andesitic volcanics. Logging and sampling are underway, with assays anticipated to be returned in mid-June.
Drilling also began this week on a second hole at Goseong, with hole GSDD002 targeting the Bupo coincident geophysical and geochemical anomaly. Updates on drilling progress will be provided next month.
Southern Gold will be attending Mines and Money Connect Melbourne on 14-15 June 2023.
Southern Gold is a precious minerals explorer that wields a portfolio of ‘high-grade’ gold-silver, lithium, and REE projects in South Korea. These projects include the Deokon Gold-Silver, Dokcheon, Gasado North, Geoje Island Angsan, Gampo, Sangju, Dado, and Goseong projects.
Write to Harry Mulholland at Mining.com.au
Images: Southern Gold Ltd
