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Southern Gold Ltd.
Summary
| Project: | Kochang | |
|---|---|---|
| Deposit: | kochang East | |
| Location: | South Korea | |
| Commodities: | Gold-Silver | |
| Date: | 10/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-10-2016: Southern Gold Ltd. announces an Exploration/Drilling Update report for its kochang East deposit at the Kochang project. JV with Korean Resources Corp. - drilling results incl. 0.2m @ 5.97g/t Au from 160m. Australian gold producer, Southern Gol | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ian Blucher, Chris Bowden (Internal) | |
| ABSTRACT: | Australian gold producer, Southern Gold Ltd (“Southern Gold”) is pleased to advise that is has received assay results from the first round of KORES co-funded drilling from Kochang East, part of the Company’s newly acquired Kochang Project in South Korea, located about 250km southeast of the capital Seoul (Figure 1). Southern Gold considers the broader Kochang Project consists of multiple zones, being: Kochang Gold Mine (KCAu), Kochang Silver Mine (KCAg), Kochang East (KCE), Kochang NW (KCNW), and Kochang Gap (KCGap). Results are summarised in the Significant Intercepts table below (Table 1), and photos (Plate 1). Significant assay results of reconnaissance rock samples from Kochang (Figure 2) have also been received. These results represent old mullock piles in and around old mine workings (adits), and thus give an indication as to the potential grade of ore when the mine was operational. Results are summarised in the Significant Assays table below (Table 2), and photos (Plate 2). As part of receiving KORES drilling grants, drilling locations have to be approved by KORES. Southern Gold’s initial focus has been on the former Kochang Gold Mine, showing the most significant historical workings, as well as highest gold assay results from historical face sampling (Figure 2). Figure 2 further highlights where KORES has approved drilling at the Kochang Project, compared to areas that Southern Gold considers the most prospective areas, which do not have KORES funding support for drilling. The assays shown in Table 1 and initial review in 3D confirm all drill-holes have hit the projected mineralised structure near surface, and that down dip potential remains below old workings (i.e. not previously mined out). Grade variability along strike is expected (see Figure 2, underground face samples at Kochang East are lower than those at Kochang Gold Mine), whereas the waste dump rock samples are selective and may give an indication as to the grades of material likely sourced from within the main mineralised structure and mined in the past (Table 2). | |
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