Southern Gold 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. The results confirm the main mineralised structure near surface and it remains open down dip and along strike.
The peak result was 0.2 metres from 160 metres downhole @ 5.97 g/t gold and 16.4 g/t silver.
Meantime, assay results for surface rock samples from Kochang have returned significant gold, silver, lead and zinc mineralisation. The peak result was 27.8 g/t gold and 29.4 g/t silver.
These results represent old mullock piles in and around old mine workings, including adits, and thus give an indication as to the potential grade of ore when the mine was operational.
Southern Gold considers the broader Kochang project, which is about 250km southeast of the capital Seoul, consists of multiple zones, being Kochang Gold Mine, Kochang Silver Mine, Kochang East (KCE), Kochang NW and Kochang Gap.
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.
The drilling conducted to date confirms the northeast extension of the mineralised structure and the rock chips confirm the tenor of grade possible in mineralised lode zones.
Southern Gold is highly encouraged by these results and outcomes and looks forward to planning future work programs to further test the Kochang project, including exploring outside of KORES approved drilling grant areas, and looking at opening up historical underground workings.
KORES granted a second round of drilling for 380 metres at Kochang NW, funding 70% of direct drilling costs. Drilling has been completed and is now subject to inspection by KORES prior to Southern Gold selecting samples for assay. Results from this program are expected in 4-6 weeks.
Southern Gold managing director Simon Mitchell said, “While the gold grade tenor of mineralisation intersected in the drilling in the northeast sector of Kochang has been lower than what we are seeing in surface rocks, the overall geological picture is starting to come together. In the past month we have started detailed mapping of the area and some of the surface rocks have returned some pretty spectacular assays, with significantly elevated gold, silver, lead and zinc results.
“There is a bigger picture at Kochang that we are only just starting to piece together and our initial impression is that mineralisation is more widespread across the district than previously thought, although we still have some way to go in understanding the detailed distribution of high grade material. Once we get underground access, this understanding should move forward significantly.”