Southern Gold Limited has announced the granting of Exploration Rights for the Deokon Project in South Korea, which hosting two historical gold-silver mines.
|Southern Gold’s Deokon Project|
Detailed ground work early in 2018 by Southern Gold identified Deokon as one of several very prospective epithermal gold-silver targets with potential for a mineralised system much greater in size than what was historically recognised.
Sampling by Southern Gold of mullock (waste from previous mining) adjacent to and on exposed veining within adits at the Deokon Main Mine and Shin Adit prospects returned nine samples over 1g/t Au and a peak of 13.3 g/t gold and 2,130 g/t silver. Two historically exploited vein trends have been defined that constitute early drill targets.
Southern Gold Managing Director, Mr Simon Mitchell said that Deokon represented a Tier 1 exploration target for Southern Gold with large footprint, spectacular gold-silver grades and easy drill and development access.
“It is also part of the early stages of our Project Generation work and, if the broader Deokon system is as good as we anticipate, we are confident that we will add more similar high potential projects to our portfolio. With some of these samples going 6 gold ounces equivalent to the tonne, it doesn’t take a lot of tonnes to achieve a very profitable deposit. Deokon is therefore a very important and valuable addition to our asset base,” said Mr Mitchell.
First-pass assessment of the Deokon Project was undertaken by Southern Gold Korea in April 2018. Work conducted included systematic traversing, extensive rock chip and grab sampling of the Shin Adit lode and vein system at surface and an initial sampling exercise throughout an accessible lower access drive. Reconnaissance and sampling along strike to the north of the Shin workings in excess of one kilometre was conducted with sampling of vein exposures in the entrance of a single open adit in the Main Vein Workings to the west. A total of 146 rock samples were collected from Tenements Jeonju 70 and 80. Sampling was thorough to allow textural, alteration, lithology and veining characterisation.
Location of the Dekon Gold Project, South Korea