Southern Gold has been granted formal tenure over the large-scale Beopseongpo gold-silver epithermal vein system in the central-southwest of South Korea.
|Central Beopseongpo vein outcrop above local farming area|
Detailed ground assessment work late in 2017 identified Beopseongpo as one of several very prospective epithermal gold-silver targets with no known drilling to date. The new tenements, Beopseongpo 29 and 30, are a significant addition to the Southern Gold portfolio with a 4km traceable strike length, 1m plus vein widths within a 30m wide alteration zone and the preservation of mineralised vein intervals suggesting that it is an extensive low-sulphidation epithermal Au-Ag system.
Beopseongpo is one of multiple epithermal discoveries recently achieved through regional project generation exercises being conducted throughout South Korea.
Southern Gold Managing Director, Simon Mitchell said that the granting of tenure at Beopseongpo allowed for more thorough surface mapping and sampling along strike of the “first class Au-Ag target”, as well as opened the potential for scout diamond drilling.
“The target here is probably about 150m below surface, so it would have been missed by the historic miners”, said Mr Mitchell.
“Beopseongpo has the potential to be a very large system. The work by a world expert consultant in epithermal systems indicates that this discovery on surface is relatively high in the epithermal system model and could represent an opportunity for a bonanza-grade system at depth given the textures that are analogous to the top zones of the Gladstone-Favona vein system,” said Mr Mitchell
The Beopseongpo project is located approximately 40km east-northeast of Gwangju city in the southern Jeolla Province, in the south west of South Korea. The region hosts several known gold occurrences including the current Eunsan-Moisan operating goldmine to the south.
Previous work was originally completed around the Beopseongpo Project area in 1999 by Indochina Goldfields Ltd with the area reinvestigated early in 2000 by Ivanhoe Mining as part of a general field review of hydrothermal clay deposits and associated vein systems on islands surrounding the Jeolla-nam do coastline. It was identified as a high-level low-sulfidation epithermal vein system, with well-developed lattice quartz after calcite and was traced for more than three kilometres.