20th Feb 2023 11:24
(Alliance News) - Great Southern Copper PLC on Monday said it has completed phase one mapping and sampling at its Teresita and Victoria prospects at its Especularita project, as the prospects approach drill-ready status.
Great Southern Copper shares were up 19% trading at 1.55 pence per share on Monday morning in London.
The mineral exploration company focused on copper-gold deposits in Chile said the alteration-mineralisation system at Teresita has been mapped for a strike length of 1 kilometre, with 90 samples having been sent to assay laboratories.
Initial reconnaissance grab samples from Teresita show assay results up to 7.2% copper and 13.1 grammes of gold per tonne.
Meanwhile, 64 samples have been sent from the Victoria prospect, with assay results received for 23 rock float samples. The results indicate anomalous copper, gold and zinc in 91% of the samples, with 30% of the samples showing more than 1% copper, Great Southern said.
Stream sediment sampling at the project also has commenced, to identify potential prospect targets for exploration. So far, 184 samples of a total 461 have been collected.
Great Southern Copper said it has also identified a new site to the south of Especularita, which has showed promising results and has been designated as the 'Aurelia project'. Follow-up exploration work is planned, such as stream sediment sampling and mapping.
Chief Executive Officer Sam Garrett said: "Momentum at Especularita is rapidly building with prospect-scale mapping and sampling at the Victoria and Teresita prospects demonstrating evidence for the potential of high-grade [copper-gold] mineralisation. Both projects are approaching drill-ready status targeting high-grade structurally controlled vein breccia style Cu-Au mineralisation.
"Our regional exploration work at Especularita has also generated a new target, the Aurelia project, identifying skarn-style mineralisation with highly anomalous Cu-Au results in preliminary reconnaissance rock sampling."
The company noted that it has increased its exploration concession area by 5,704 hectares at Especularita and by 2,193 hectares at its San Lorenzo project.
By Harvey Dorset, Alliance News reporter
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