Southern Gold Limited (ASX: SAU) (Southern Gold or the Company) is pleased to provide initial assay results from new tenement applications lodged over the historic Goseong copper-gold-silver mine district, and its plans to advance to drill testing in February 2023.

Highlights

Diamond drilling to start at Goseong in FY23 Q3 after winter on both epithermal-style and intrusive-hosted / porphyry-style gold mineralisation targets. Exploration activities are underway to define targets for scout drill testing, including plans to conduct a drone airborne magnetic survey, soil sampling, and detailed mapping and sampling.

Drilling at Goseong to be followed by diamond drilling epithermal gold-silver projects Deokon and Dokcheon. Sites to identify potential larger mineralised structures for drill testing are being prioritised using a ground-based gravity survey at Deokon and drone magnetics at Dokcheon.

Substantial new tenure staked over historic Goseong copper-gold-silver district and extensions comprising 25 new exploration licence applications over 70 square kilometres.

Mineralisation is hosted in quartz veins and breccias within mine workings up to 800 metres long. Sulphide mineralogy and published peer-reviewed research indicates a hydrothermal-magmatic origin for the veins, indicating the potential for deeper, intrusive-hosted and/or porphyry-style copper-gold-silver, and skarn mineralisation.

Significant rock chip samples from historic mines returned grades up to 8.15g/t Au, 265g/t Ag and up to 3.32% Cu, and samples from areas peripheral to the known district returned grades up to 0.82 g/t Au, 198 g/t Ag and 3.32 % Cu, indicating the potential for a sizable mineralised system.

The area is unexplored by modern-day methods, with the only known historical drilling by Government agency KORES reporting downhole results (not true widths) of 21 metres @ 2.5 g/t Au and 54 g/t Ag, and 6.2 metres @ 54 g/t Ag and 1.03% Cu.

Results

As a result of its 2022 project generation program, Southern Gold is pleased to announce 25 new licence applications over the part of the historic Goseong copper-gold-silver mining district and assay results from reconnaissance surface sampling.

The company plans to undertake detailed field investigations over the coming months, including an airborne drone aeromantic survey, to firm up promising areas for scout drill testing, currently planned for February 2023.

The Goseong mining district lies in the southern region of the Masan-Goseong Metallogenic Province of the Cretaceous-age Gyeongsang Basin which hosts approximately 70 Au-Ag-Cu-Pb-Zn sheeted vein deposits as well as hydrothermal pyrophyllite-kaolinite clay deposits.

Contact:

Southern Gold Limited

10 George Street

Stepney SA 5069

PO Box 255 Kent Town SA 5071

Phone: (08) 8368 8888

E: info@southerngold.com.au

(C) 2022 Electronic News Publishing, source ENP Newswire