Great Southern Copper PLC Magnetics Surveys Commence at Especularita (7231B)
06 Junio 2023 - 1:00AM
UK Regulatory
TIDMGSCU
RNS Number : 7231B
Great Southern Copper PLC
06 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
6 June 2023
Great Southern Copper plc
("GSC" or the "Company")
Magnetics Surveys Commence at Especularita
High-resolution drone survey to help identify copper-gold
("Cu-Au") drill targets
Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold exploration in Chile, is pleased to announce that it
has commenced high-resolution aeromagnetic surveys at its
Especularita project.
The Company plans to complete two magnetic surveys covering each
of its Teresita and Victoria prospects where recent exploration has
identified outcropping high-grade Cu-Au mineralisation with
reported rock chip sampling results(1,2) up to 6.7% Cu and 13.1 g/t
Au. The surveys are designed to identify and delineate potentially
high-grade, vein and breccia type Cu-Au deposits as described in
previous announcements, and will also enhance the Company's
understanding of the district geology.
Sam Garrett, Chief Executive Officer of Great Southern Copper,
said: "We are very pleased to commence our first magnetic surveys
at the Teresita and Victoria prospects. Recent exploration work at
the prospects suggests that the alteration associated with the
high-grade Cu-Au mineralisation is both non-magnetic and
magnetite-destructive whereas the surrounding wall rocks are
magnetic. Therefore, we expect that zones of potential
mineralisation will be visible in the magnetic data. This will be
used to support our drill targeting for the scout drilling
programmes planned for later in the year."
Magnetic Survey:
GSC has contracted GFDas UAV & Geosciences of Santiago,
Chile to collect the magnetic survey data using two drone-mounted
magnetometers. The surveys will be flown at an above-ground height
of 35m on 50m-spaced grid lines covering an area of 29.1 km(2) at
Victoria (651 line-km) and 22 km(2) at Teresita (514 line-km).
The Company anticipates that the survey will be completed within
3-4 weeks. Additional processing and interpretation of the data by
ExploreGeo of Perth, Australia, is estimated to be completed within
a further 4-6 weeks subject to availability of consultants.
ESG considerations:
The Company is employing the latest in battery-powered drone
technology to collect the magnetic data which has the collective
benefits of reducing the Company's on-ground footprint, reducing CO
(2) emissions and noise pollution compared with using conventional
helicopter and plane-mounted systems as well as significantly
reducing the time and cost to complete the survey.
References:
1. GSCU release to the LSE dated 22 November 2022.
2. GSCU release to the LSE dated 03 April 2023.
Enquiries:
Great Southern Copper plc
Sam Garrett, Chief Executive Officer +44 20 4582 3500
--------------------
SI Capital Limited
--------------------
Nick Emerson +44 (0)14 8341 3500
--------------------
Gracechurch Group
--------------------
Harry Chathli, Alexis Gore, Henry
Gamble +44 (0)20 4582 3500
--------------------
Notes for Editors:
About Great Southern Copper
Great Southern Copper is a mineral exploration company focused
on copper-gold deposits in Chile. The Company has the option to
acquire rights to 100% of two projects that are prospective for
large scale copper-gold deposits in the underexplored coastal belt
of Chile, a globally significant mining jurisdiction and the
world's largest copper producer.
The two projects comprise the San Lorenzo Project, northeast of
the coastal town of La Serena in northern Chile, and the
Especularita Project located approximately 170km to the south of
the San Lorenzo project. The two early-stage Cu-Au exploration
projects are within the same coastal metallogenic belt as other
major deposits including Teck's Andacollo copper and gold mine.
Significant historical small-scale and artisanal workings for both
copper and gold are readily evident in both exploration project
areas.
Great Southern Copper is strategically positioned to support the
global market for copper, a key metal in the clean energy
transition around the world. The Company is actively engaged in a
two-year exploration and evaluation work programme targeting
principally large tonnage, low to medium grade porphyry style Cu-Au
deposits.
Further information on the Company is available on the Company's
website: https://gscplc.com
Competent Person Statement
The information in this announcement that relates to exploration
results is based on and fairly represents information reviewed or
compiled by Mr Sam Garrett, a Competent Person who is a Member of
the Australian Institute of Geoscientists and a Fellow of the
Society of Economic Geologists. Mr Garrett is the CEO of Great
Southern Copper PLC. Mr Garrett has sufficient experience that is
relevant to the styles of mineralisation and types of deposit under
consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves". Mr Garrett has provided his prior
written consent to the inclusion in this announcement of the
matters based on information in the form and context in which it
appears.
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