REG - Great Southrn.Copper - Drilling Commences at Viuda Prospect, Especularita

Great Southern CopperAnnouncement

25/11/2024 07:00

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RNS Number : 4925N  Great Southern Copper PLC  25 November 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

25 November 2024

 

Great Southern Copper plc

("GSC" or the "Company")

 

 

Drilling Commences at Viuda Prospect, Especularita

 

Targets porphyry type mineralisation

 

 

Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold-lithium exploration in Chile, is pleased to announce that its
planned scout RC drilling programme has commenced at the Viuda prospect
targeting porphyry style mineralisation.

 

Highlights:

·    Scout RC drilling commences at Viuda prospect targeting porphyry
style mineralisation,

·    Programme plans for up to 8-10 drill holes totalling up to 800 -
1,500m,

·    Drilling will test geochemistry, geology and geophysics targets,

·    Initial hole, VIU24_RC001, confirms porphyry style alteration system
from surface,

·    Purchase Option Agreement allows for 100% ownership of Viuda,

·    Viuda prospect is ideally located within easy access of roads, power
and port infrastructure.

 

Drilling has commenced at the Company's Viuda prospect in Chile with the scout
RC programme designed to test a porphyry model concept for the alteration and
mineralisation mapped and interpreted from surface outcrops (Figure 1). The
programme comprises up to 8 - 10 scout RC drill holes (800 - 1,500m) and will
also test geochemical and geophysics (magnetics) anomalies reported
previously(1,2).

 

The first hole in the programme, VIU24_RC001, is in progress (Figure 2)
targeting structurally-controlled mineralisation identified from mapping and
sampling of artisanal mine workings and has intersected massive
pyrite-albite-clay (PAC) alteration from surface which is early supporting
evidence for a large-scale porphyry type alteration system at Viuda.

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "We are
very pleased to have commenced our scout RC drilling programme at Viuda. Many
months of hard work in preparing the permitting and authorisations required
for drilling are complete and we now look forward to the results of this
programme supporting our exploration efforts in the field.

 

The scout drill programme is designed to test our porphyry model for Viuda
targeting both surface geochemistry, geology and magnetic anomalies identified
from work completed by GSC earlier in the year. Already the first hole in this
programme has been successful, confirming a large-scale porphyry type
alteration system at Viuda with massive pyrite-albite-clay alteration
identified from surface.

 

In addition, the permitting and approvals for drilling of our Cerro Negro
prospect are anticipated to be completed within the week concluding a very
busy and successful year for our team in Chile and I would like to thank them
for their efforts. A drilling contractor has been arranged and construction of
drill pads for the diamond drill programme is in progress."

 

Figure 1: Porphyry target model for GSC's Viuda prospect, Especularita
Project, Chile.

 

 

 

Figure 2: GSC employees sampling RC drill chips from VIU24_RC001 (l), GSC
geologist logging drill chips from VIU24_RC001 (r).

 

 

 

References:

1.    RNS 2087I (15 Oct 2024); New Cu-Au exploration target identified at
Viuda,

2.    RNS 7037M (19 Nov 2024); Exploration results define Viuda drilling
targets.

 

 

 

Enquiries:

 

 Great Southern Copper plc
 Sam Garrett, Chief Executive Officer      +44 (0) 20 4582 3500

 SI Capital Limited
 Nick Emerson                              +44 (0) 1483 413500

 Gracechurch Group
 Harry Chathli, Alexis Gore, Henry Gamble  +44 (0) 20 4582 3500

 

Notes for Editors:

 

About Great Southern Copper

 

Great Southern Copper PLC is a UK-listed mineral exploration company focused
on the discovery of copper-gold and lithium deposits in Chile. The Company has
the option to acquire rights to 100% of two projects in the under-explored
coastal belt of Chile that are prospective for large scale copper-gold
deposits. In addition, the Company has the option to acquire rights to 100% of
a lithium project located in the Salar de Atacama district of Chile. Chile is
a globally significant mining jurisdiction being the world's largest copper
producer and the second-largest producer of lithium.

 

The two, early-stage Cu-Au projects comprise the San Lorenzo and Especularita
Projects, both located in the coastal metallogenic belt of Chile which hosts
significant copper mines and deposits, including Teck's Carmen de Andacollo
copper mine, and boasts excellent access to infrastructure such as roads,
power and ports. Significant historical small-scale and artisanal workings for
both copper and gold are readily evident in both exploration project areas.

The Company's Monti Lithium project is strategically located in the pre-Andean
region of Salar de Atacama which is Chile's premier lithium-producing region
with well-established lithium mining operations and infrastructure.

 

Great Southern Copper is strategically positioned to support the global market
for copper and lithium - both critical battery metals in the clean energy
transition around the world. The Company is actively engaged in exploration
and evaluation work programmes targeting both large tonnage, low to medium
grade Cu-Au and Li deposits as well as high-grade Cu-Au deposits.

 

Further information on the Company is available on the Company's website:
https://gscplc.com (https://gscplc.com)

 

Competent Person Statement

 

The information in this announcement that relates to exploration results is
based on and fairly represents information reviewed or compiled by Mr Sam
Garrett, a Competent Person who is a Member of the Australian Institute of
Geoscientists and a Fellow of the Society of Economic Geologists. Mr Garrett
is the CEO and a shareholder of Great Southern Copper PLC. Mr Garrett has
sufficient experience that is relevant to the styles of mineralisation and
types of deposit under consideration and to the activity being undertaken to
qualify as a Competent Person as defined in the 2012 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves". Mr Garrett has provided his prior written consent to the
inclusion in this announcement of the matters based on information in the form
and context in which it appears.

 

This announcement includes information that relates to Exploration Results
prepared and first disclosed under the JORC Code (2012) and extracted from the
Company's previous LSE announcements as noted, and the Company's Prospectus
dated 20 December 2021. Copies of these announcements are available from the
LSE Announcements page of the Company's website: www.gscplc.com
(http://www.gscplc.com) .

 

The Company confirms that it is not aware of any new information or data that
materially affects the information included within the Prospectus dated 20
December 2021.

 

Forward Looking and Cautionary Statements

Some statements in this announcement regarding estimates or future events are
forward-looking statements. They include indications of, and guidance on,
future earnings, cash flow, costs and financial performance. Forward-looking
statements include, but are not limited to, statements preceded by words such
as "planned", "expected", "projected", "estimated", "may", "scheduled",
"intends", "anticipates", "believes", "potential", "predict", "foresee",
"proposed", "aim", "target", "opportunity", "could", "nominal", "conceptual"
and similar expressions. Forward-looking statements, opinions and estimates
included in this report are based on assumptions and contingencies which are
subject to change without notice, as are statements about market and industry
trends, which are based on interpretations of current market conditions.
Forward-looking statements are provided as a general guide only and should not
be relied on as a guarantee of future performance. Forward-looking statements
may be affected by a range of variables that could cause actual results to
differ from estimated or anticipated results and may cause the Company's
actual performance and financial results in future periods to materially
differ from any projections of future performance or results expressed or
implied by such forward-looking statements. So, there can be no assurance that
actual outcomes will not materially differ from these forward-looking
statements.

 

 

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