ASX-listed gold explorer Southern Gold (ASX:SAU) has lodged exploration licence applications over 5 project areas prospective for lithium mineralisation in South Korea.
The company reports the projects – Samguen, Seobyeok, Cheongsong, Yeongdong, and Buyeo – are at a greenfields stage, with scarce prior exploration and no drilling.
Fieldwork is currently underway and encompasses regional stream-sediment sampling, rock chip sampling, and geological mapping to focus on subsequent detailed exploration and target development.
Depending on the progress and lab turn-around times, the first geochemical results from this regional exploration program are expected to be returned in Q4 FY23 to Q1 FY24.
The company states 2 of the projects are located in the northern region of Gyeongsangbuk-do. The Samguen Li Project consists of 5 exploration licence applications, covering 13.7km-square, and the Seobyeok Li Project comprises 36 exploration licence applications, covering 98.8km-square.
Southern Gold reports the Samguen Project contains anomalous Li from the Korea Institute of Geoscience and Mineral Resources (KIGAM) stream-sediement sampling survey, with the ‘highest’ value between 121 parts per million (ppm) and 361ppm Li.
Meanwhile, the Seobyeok Li Project comprises 36 exploration licence applications covering 98.8km-square, located in northern Gyeongsangbuk-do. Stream-sediment sampling from the historical KIGAM survey returned ‘high’ values between 163ppm and 409ppm Li.
The Cheongsong Li Project comprises 34 exploration licence applications, covering 94.4km-square, located in the southern region of Gyeongsangbuk-do.
the 5 areas in total encompass 454km-square, with lithium anomalies from historical country-wide stream-sediment sample survey by the Korea Institute of Geoscience and Mineral Resources (KIGAM)
Meanwhile, the Yeongdong Li and Buyeo Li projects are located in the southern region of Chungcheongnam-do. Yeongdong comprises 26 exploration licence applications, covering 72.2km-square, and Buyeo comprises 63 exploration licence applications, covering 174.8km-square.
The company reports the 5 areas in total encompass 454km-square, with lithium anomalies from historical country-wide stream-sediment sample survey by the Korea Institute of Geoscience and Mineral Resources (KIGAM).
Southern Gold states the team is in the field all week with a third party who is assessing their interest in the lithium potential of Southern Gold’s applications.
Additionally, the company says, management is ‘greatly encouraged’ by the interest of the third party in the lithium potential of South Korea and believes it provides early validation of the board’s decision to expand its scope beyond primarily looking for potential gold deposits.
Southern Gold is a gold exploration company, exploring precious metals in South Korea. The company is focused on its wholly owned ‘substantial’ portfolio of ‘high-grade’ gold-silver projects in South Korea.
Images: Southern Gold Limited
