New bonanza grade outcrop and float assays from the April-June 2019 field program have been identified by Southern Gold at its 100 per cent-owned Deokon Project, South Korea.
|Southern Gold geologist at Deokon's Bonanza Zone|
This newly identified outcrop has been named the ‘Bonanza Zone’ and has identical vein textures, alteration, and abundant visible silver sulfosalts, native silver and what is likely silver rich electrum with a of 32.4g/t gold and 1,095g/t silver in outcrop and 53.9g/t gold and 6,240g/t silver in float.
In addition, another new area of extensive outcrop, the ‘Thorn Zone’, has been located 500 metres to the north of the Bonanza Zone. Combined, the two zones represent a mineralised vein corridor of more than 500 metres that remains open in both directions and is now collectively named the ‘Golden Surprise Trend’.
Southern Gold Managing Director, Mr Simon Mitchell says that these very high-grade results vindicate the project generation work that has been undertaken to date in South Korea.
“Our Deokon Project is shaping up incredibly well with bonanza grade gold and silver on surface in an area which, to our knowledge, has never been previously drilled,” says Mr Mitchell.
“It’s not often you can walk up to outcrop and identify visible native silver in hand specimen. This adds a whole new meaning to the often-used term ‘walk-up drill target’. Deokon, as a high-quality project opportunity, underscores the enormous exploration potential of South Korea.”
An intensive sampling program was completed at Deokon with over 112 new samples being taken and submitted for analysis. Eleven outcrop rock chip and five float samples returned high grade gold-silver results. The peak outcrop rock chip sample at ‘Bonanza Vein Zone’ was 32.4g/t Au and 1,095g/t Ag with the peak outcrop sample at ‘Thorn Vein Zone’ returning 34.3g/t Au and 69.2g/t Ag.
Deokon was the second phase of the initial field work and results were inadvertently delayed, due to the very high-grade silver values being returned that required three different analytical methods to finalise the results.
The program at Deokon included the production of a 1:5,000 geology map through geo-structural, mineralisation and alteration mapping in order to further conslidate the geological understanding and structural setting.
The Deokon Project is located 200 kilometres south of Seoul in the Yeongdong Province and approximately 100 kilometres SSW of the major city of Daejeon, where Southern Gold operations are based.
The Golden Surprise vein corridor was first identified in 2018 by the discovery of a bonanza float sample, but the outcrop had remained elusive. Dense vegetative cover prevents easy access during the summer months. Access and outcrop visibility are greatly improved post winter thaw.
The Bonanza Zone tenure is currently covered by a Southern Gold application and the identification of this outcrop will ensure tenure grant over the coming months.