Southern Gold starts geophysical surveys in South Korea ahead of drilling planned in early 2023
Proactive Investors
Published Nov 28, 2022 13:17
Updated Nov 28, 2022 13:30
Southern Gold starts geophysical surveys in South Korea ahead of drilling planned in early 2023
Southern Gold Ltd (ASX:SAU)’s on-the-ground field activity at Goseong and Deokon projects in South Korea steadily progressed over the past month in preparation for planned drill testing in early 2023, with geophysical surveys underway at both projects.
Reconnaissance geological mapping and sampling were also conducted at Dokcheon Project and are ongoing.
Goseong Copper-Gold-Silver Project
Korea Institute of Geology and Mining (KIGAM) is completing an aeromagnetic drone survey covering some 17 square kilometres in the northwest region of the project.
Goseong Cu-Au-Ag Project area geology map highlighting area covered by drone aeromagnetic survey currently underway and geological mapping of veins and historical workings conducted over October-November.
Results are expected to be available post-processing in early December to assist in refining drill targets at Goseong and to provide key structural and lithological information.
A soil sampling program is underway over an area of extensive quartz-magnetite-pyrite stockwork veining outcropping over an area of 450m by 150m before going under cover.
Detailed prospect-scale geological mapping was completed over the past month by consultant Nick Tate, including within the area covered by the drone magnetic survey which contains the historical Goseong, WonGeum and 150M East and West mine and workings.
This prospect-scale mapping has improved SAU’s understanding of the extent and geometry of mined veins and the potential location of mineralised shoots and will greatly assist in targeting drill holes.
Deokon Gold-Silver Project
Exploration work to progress drill targeting at Deokon is well underway.
A 3D geological model of historical mine workings and drilling has been constructed using Leapfrog software that is highlighting structural trends and dips and areas for possible extensions to mined or mapped shoots.
A gravity survey is also currently underway covering an area of ~30 square kilometres with the aim of delineating potential “blind” controlling and potentially mineralised structures for drill targeting.
Area covered by gravity survey currently underway at Deokon.
This survey is also being undertaken by Southern Gold geologists with assistance from KIGAM who will also process the data.
Results will be available post-processing in mid-late December to assist in structural interpretation and in refining planned drill targets.
Next steps
Exploration activity over the next month will include working up drill targets at the Dokcheon Au-Ag Project through ongoing geological mapping and soil sampling.
Work will continue to progress drill targets at Goseong and Deokon through additional detailed geological mapping and sampling, and interpretation of geophysical gravity data when available for review post-processing by KIGAM in December.
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Meetings and discussions with local government officials and landowners for drill permitting and land access will be conducted as drill sites at Goseong and Deokon are finalised.
Processing and assessment by the Mining Register Office (MRO) of Goseong exploration licence applications are underway with SAU’s best estimate of timing for the grant of the licences to be from late December to early January.
Should any delays occur, SAU may consider moving initial drilling to Deokon in February 2023 to ensure start of the drill campaign.
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