REG - Great Southrn.Copper - Exceptional Drilling Results Continue at Mostaza

Great Southern CopperAnnouncement

24/06/2025 07:10

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RNS Number : 1375O  Great Southern Copper PLC  24 June 2025

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.

 

24 June 2025

 

Great Southern Copper plc

("GSC" or the "Company")

 

 

Exceptional Cu-Ag Drill Results Continue from Phase II Drilling at Mostaza,
Cerro Negro

Including CNG25 DD015: 6.0m at 6.61% Cu and 542.4g/t Ag from 43m

 

Highest assay grades up to 10.4% Cu and 672g/t Ag

 

 

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold
exploration in Chile, is pleased report further exceptional high-grade assay
results from Phase II drilling at the Mostaza Mine, Cerro Negro prospect.

 

Highlights:

·    Assay results received for diamond holes CNG25 DD015 - DD018 and
DD021 with highest significant results including;

Ø CNG25 DD015:   9.9m of 5.47% Cu and 442.5g/t Ag from 41.15m, including

o  6.0m of 6.61% Cu and 542.4g/t Ag from 43m, including

o  2.0m of 8.18% Cu and 669.0g/t Ag from 44m

Ø CNG25 DD016:   7.5m of 4.48% Cu and 342.6g/t Ag from 89m, including

o  0.5m of 10.4% Cu and 503.0g/t Ag from 96m

·    Highest assay result received includes 10.4% Cu and 672g/t Ag

·    Five lines of induced polarisation (IP) and audio frequency
magneto-telluric (AMT) geophysics surveys completed testing the Mostaza trend
over 2.5km

·    Phase III exploration drilling at Mostaza is in advanced planning
stages and will be guided by recent pole-dipole IP and AMT geophysics surveys,
along with surface mapping and geochemistry data

·    GSC holds option to own 100% of the Cerro Negro prospect, including
the Mostaza mine

·    Prospect located at low elevation with excellent access to
infrastructure and mining services

 

Sam Garrett, CEO for Great Southern Copper in Chile, said: "These spectacular
jewellery box copper and silver grades are our best results to date and
continue to highlight the exciting potential of the Mostaza deposit at Cerro
Negro. Besides the very high grades, the deposit also benefits from being near
surface and is located at low altitude with excellent access to key
infrastructure and mining support services.

 

"Planning for the Phase III exploration drilling at Mostaza is well advanced
and will rely on results from recently completed pole-dipole IP and AMT
geophysics surveys as well as our surface mapping and geochemistry results.

 

"We are very excited to progress the opportunity to continue to grow and
develop this significant copper-silver deposit."

 

Phase II drilling results for CNG25 DD015 to 018, and DD021

 

Diamond drillholes CNG25 DD015 to DD018, and DD021 are part of GSC's Phase II
Mostaza drilling programme and were oriented to test the continuity of geology
and grade of the northwest ("NW") dipping "Manto" of copper-silver
mineralisation recently discovered below and west of the historical Mostaza
Mine (see Figure 1 and 2).

 

Figure 1: Cerro Negro Project, Mostaza Mine. Plan view showing the open pit
and extensions of mineralisation at depth and to the south. Drillholes in this
release are labelled.

 

 

Figure 2: Cerro Negro Project, Mostaza Mine. Long section looking east showing
the projection of mineralised bodies at depth. Note the recently discovered
"Manto" beneath the open pit. Arrows indicate that mineralisation remains
open. Holes in this release are labelled.

 

The Phase II holes were drilled using a "fan" pattern below the old mine
workings to effect an approximate grid-pattern of intercepts intersecting the
deposit with a nominal spacing of approximately 20-25 metres (m) along strike
(NE-SW) and 20-50m down dip of the plane of the manto (NW-SE).

 

All drillholes in this release intersected silicified intermediate-argillic
altered and variably mineralised rock at depths where the deposit was
expected, indicating that the manto comprises a tabular body striking NE-SW
and dipping at 50 degrees to the NW (see Figures 1, 2), although the exact
architecture of the deposit is still to be determined. This preliminary manto
interpretation, however, is in contrast to the original mine target which was
assumed to be a steeply-dipping mineralised structure. Drilling to date
defines the copper-silver manto measuring approximately 145m down-dip and 145m
along strike with mineralisation remaining open both along strike and at
depth.

 

Hole DD015 was drilled to intersect the manto at approximately 25m down-dip
from hole DD013 which intersected 13.9m @ 1.74% Cu and 153.4 g/t Ag from
26.1m, including 5m @ 3.04% Cu and 322.4 g/t Ag from 37m(1). Hole DD015
intercepted the same style of mineralisation with abundant disseminated and
crackle-hosted chalcocite-dominant mineralisation in strongly altered and
locally brecciated "lens" rock (see Figure 3, 4). Assay results returned 9.9m
@ 5.47 % Cu and 442.5 g/t Ag from 41.15m, including 3.0 m @ 7.59 % Cu and
612.7 g/t Ag from 43m. The highest grade intersected was 1m @ 8.29% Cu and 672
g/t Ag from 45m down the hole. Despite the shallow depth below the current
surface (approx. 50m), recent petrographic studies confirm the high-grade
mineralisation is hypogene (ie, not supergene enrichment).

 

Hole DD016 targeted the manto approximately 30m down-dip from DD015 (Figure 3,
5) and intersected a broad interval of mineralisation including 10.7m @ 3.28 %
Cu and 248.9 g/t Ag from 85.8m. This includes two intervals separated by a
barren dyke near the top (hanging wall) of the manto. The upper interval
includes 1.2m @ 1.2 % Cu and 76.3 g/t Ag from 85.8m. The lower interval is
higher-grade and returns 6.7m @ 4.9 % Cu and 381.2 g/t Ag from 89.8m. The
maximum assays were of 0.5m @ 10.4 % Cu and 503 g/t Ag from 96m.

 

Preliminary sections (Figures 4-6) suggest that this hole and hole DD015 cut
the mineralisation orthogonally indicating a true thickness of the deposit of
approximately 10m in these locations.

 

Hole DD017 intersected a broad interval of 13.1m @ 1.18 % Cu and 48.7 g/t Ag
from 71m cut by metric intervals of barren dyke near the hanging wall of the
manto. The upper interval of manto included 0.6m @ 1.11 % Cu and 100g/t Ag
from 71m. The lower interval is higher grade and intersected 8.1m @ 1.76 % Cu
and 68.1 g/t Ag from 76m (Figure 3, 6). This interval also includes anomalous
zinc up to 2.67% Zn and lead up to 1.34% Pb.

 

Hole DD018 (see Figures 3, 6) is the deepest hole drilled to date. Like holes
DD016 and 017, the hole intersects an upper and lower interval of manto
separated by a barren dyke. The entire thickness of manto returns 16.6m @ 0.46
% Cu and 42.3 g/t Ag from 118.9m, including an upper interval of 3.6m @ 0.75 %
Cu and 65.4 g/t Ag from 118.9, and a higher-grade lower interval of 5.8m @
0.81 % Cu and 78.1 g/t Ag from 129.7m, including 2.5m @ 1.07 % Cu and 101.6
g/t Ag from 133m.

 

Hole DD021 intersected almost 16m of altered proto-lens cut by dykes. However,
only a few metres of mineralised lens were observed from 99.9m with maximum
values of 0.84 % Cu and 41.4 g/t Ag (Figure 4). It is unclear if this is a
local zone of weaker mineralisation.

 

Broad zones of low grade Ag (>0.1 g/t Ag) are strongly anomalous in the
hanging-wall and coincides with weaker zones of alteration - referred to as
"proto-lens". Significantly, low-grade silver (>0.1 g/t Ag) also forms a
halo enveloping the copper-silver manto. Therefore, the silver-enriched
proto-lenses may be significant as "markers" for further stacked copper-silver
lenses potentially discoverable along trend or down dip.

 

Figure 3: Cerro Negro Project, Mostaza Mine. Photograph of core from hole
CNG25 DD015 on the left DD016 in the middle, and DD017 and DD018 on the right,
with grades of Cu % and Ag g/t. The black mineral is mostly chalcocite with
stromeyerite inclusions and lesser tennantite, digenite and bornite.

 

 

                        Figure 4: Cerro Negro Project, Mostaza
Mine. Schematic cross section DD013-DD021, showing the location of reported
Phase I and Phase II drill holes. The blue box shows the intercepts in this
release.

 

Figure 5: Cerro Negro Project, Mostaza Mine. Schematic cross section
DD001-DD016 showing the location of reported Phase I and Phase II drill holes.
The blue box shows the intercepts in this release.

 

Figure 6: Cerro Negro Project, Mostaza Mine. Schematic cross section
DD013-DD018 showing the location of reported Phase I and Phase II drill holes.
The blue box shows the intercepts in this release.

 

 

 

 Hole_ID           From    (m)     To         (m)          Interval (m)  Cu         (%)          Ag        (g/t)

 CNG25 DD001       27              47                      20            3.31                    269.9
              inc  31              38                      7             5.72                    489.6
              inc  35              38                      3             6.62                    562.7

 CNG25 DD002       38.9            43.1                    4.2           1.73                    126.5

 CNG25 DD003       36.6            55.2                    18.6          1.85                    146.6
              inc  39              52                      13            2.48                    198.1
              inc  48              51                      3             3.31                    254.7
              inc  50              51                      1             4.64                    406

 CNG25 DD004       no significant intercepts

 CNG25 DD005       35              56                      21            2.9                     246.7
              inc  37              52                      15            3.79                    328.4
              inc  40              52                      12            4.24                    369.5
              inc  45              52                      7             5.08                    449.6
              inc  45              47                      2             6.05                    547.5

 CNG25 DD006       132.54          132.91                  0.46          0.08                    24.9

 CNG25 DD007       87              120                     33            1.96                    60.6
              inc  88              91.85                   3.85          5.21                    318
              and  115             120                     5             5.59                    99.2
              inc  116.4           118.9                   2.5           9.67                    175.4

 CNG25 DD008       0               31                      31                                    7.1
              inc  0               1.2                     1.2           0.512                   31.3
              and  8               22                      14                                    9.6

 CNG25 DD009       Oxide zone - no significant intercept

 CNG25 DD010       6               25                      19                                    30.52
              inc  10.2            19                      8.8                                   58.02
              and  18              23                      5             0.31                    23.7

 CNG25 DD011       Oxide zone - no significant intercept

 CNG25 DD012       7               24                      17                                    8.7
              inc  16              24                      8                                     13.1
                   24              27                      3             3.43                    164.7

 CNG25 DD013       26.1            40                      13.9          1.74                    153.4
              inc  26.1            34                      7.9           2.35                    227.6
              inc  29              32                      3             3.54                    405.3

 CNG25 DD014       Oxide zone - infill sampling results pending

 CNG25 DD015       30.2            31.7                    1.5           0.39                    19.94
                   41.15           51.05                   9.9           5.47                    442.5
              inc  43              49                      6             6.61                    542.4
              and  44              46                      2             8.18                    669

 CNG25 DD016       85.8            87                      1.2           1.21                    76.3
                   89              96.5                    7.5           4.48                    342.6
              inc  89.8            96.5                    6.7           4.96                    381.2
              and  96              96.5                    0.5           10.4                    503

 CNG25 DD017       71              84.1                    13.1          1.18                    48.7
              inc  76              84.1                    8.1           1.76                    68.1
              and  76              80                      4             2.61                    97.6

 CNG25 DD018       82              84                      2             0.48                    33.9
                   118.3           122.5                   4.2           0.68                    58.8
              inc  118.9           122.5                   3.6           0.75                    65.4
                   128.7           136.1                   7.4           0.66                    63
              inc  129.7           135.5                   5.8           0.81                    78.1
              and  133             134.9                   1.9           1.12                    108.4

 CNG25 DD019       Assays pending

 CNG25 DD020       Assays pending

 CNG25 DD021       1               2.2                     1.2           0.5                     27.3
                   93.3            94                      0.7           0.34                    17.8
                   99.9            101.65                  1.75          0.59                    28.5
              inc  99.9            101                     1.1           0.84                    41.4
                   103.85          105.18                  1.33          0.21                    8.5

 

Table 1: Summary of significant intercepts for Phase I and Phase II GSC drill
holes.

 

About the Mostaza Cu-Ag deposit, Cerro Negro Project

 

High-grade Cu-Ag mineralisation at Cerro Negro is hosted by structurally
controlled elongate lodes of variable width (<4-20m) that strike between
north and north-east. Historical mining at the Mostaza mine exploited steeply
dipping to subvertical lodes such as "Lens 2". In addition to the steeply
dipping "lenses", geological interpretation of recent drill results has
identified a previously unrecognised and untested tabular lode, or "manto",
below the Mostaza pit and dipping about 50 ° to the west.

 

Copper-silver mineralisation in the lenses and manto comprises abundant
disseminations, veinlets, crackle networks and breccia matrix fillings of
hypogene chalcocite and lesser tennantite, digenite, bornite, chalcopyrite,
pyrite and local galena and sphalerite. The chalcocite contains inclusions of
stromeyerite, a Ag-Cu sulphide.

 

Host rocks to mineralisation comprise multiple generations of intensely
altered breccia, tuffisite and felsic intrusive. In the mine, the mineralised
lodes are bound to the east and west by faults that are typically invaded by
narrow (1-2m) andesite to rhyolite dykes. Outside of the bounding dykes and
faults, the enclosing wall rocks consist of an east-dipping bedded sequence of
fresh volcanic lava flows and brecciated dacite that might be part of a large
dome-diatreme complex outcropping to the east.

 

In addition to the mineralisation seen in the Mostaza mine, several Cu-Ag rich
bodies have been mapped at surface.  Historically these were interpreted as
discrete "lenses" but collectively they have the potential to form an
anastomosing network of mineralised bodies continuous over a strike length of
up to 2km or more.

 

Core preparation, sampling and assaying

 

The Cerro Negro diamond drill core is collected from site by GSC staff and
transported to the Company's nearby sampling facilities where it is then
processed for geological, geotechnical, petrophysical and geochemical data.
Sampling intervals are selected principally on geologic boundaries and may
vary in length up to 2m. The core is cut into two halves using an electric
diamond brick saw with half-core samples each allocated a unique identifier
code and bagged-tagged separately. Samples for each complete hole are
transported by GSC personnel to ALS laboratories in Santiago, Chile for sample
preparation (drying, weighing, crushing and grinding). A final 200g aliquot of
each sample is forwarded by ALS to their laboratories in Lima, Peru where it
is assayed for Au (by 30g fire assay with ICP-AES finish method) plus a suite
of 48 base metals and trace elements including Cu and Mo (by four acid digest
ICP-MS method).

 

Sampling and assaying QAQC protocols employed by the company for this drilling
project include routine insertion of standard reference materials including
standards and blanks. Results for each SRM is assessed to monitor the accuracy
and precision of the assay data from ALS for the core samples.

 

Cautionary note:

The Company cautions that all references to "resources", "mineral resources",
or "mineral resource estimates" in this RNS are historical and were prepared
and reported prior to the implementation of the JORC code and therefore are
non-JORC compliant. The Company advises that the resource categories used in
the historical estimates, for example "measured, indicated, demonstrated and
inferred", may not have the same meaning or degree of confidence as current
JORC categories. Historical records indicate that the quoted non-JORC
resources were calculated using the polygonal method based on underground
sampling, 1024m of drilling in 25 holes, and geological cross-sections and
level plans. GSC is presenting this information for historical context only
and is not treating it as a current mineral resource estimate.

The Company has not been able to independently verify the results of
historical drilling or mine channel samples. References to mineralised grade
intervals in drill holes are considered apparent thicknesses as there is not
sufficient geological information to calculate true thickness of mineralised
intercepts at this time.

 

References:

1.            RNS 5588M (12 June 2025): Cerro Negro drilling
confirms outstanding grades

 

 

Enquiries:

 

 Great Southern Copper plc
 Sam Garrett, Chief Executive Officer  +44 (0) 20 7138 3204

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

 BlytheRay
 Tim Blythe / Megan Ray                +44 (0) 20 7138 3204

                                       GSC@blytheray.com

 

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 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. Chile is a
globally significant mining jurisdiction being the world's largest producer
and exporter of copper.

 

The two, early-stage Cu-Au projects comprise Especularita and San Lorenzo
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 coastal belt offers deposit type optionality for copper including porphyry
and IOCG style deposits as well as newly recognised intrusive-related copper
and gold deposits.

 

Great Southern Copper is strategically positioned to support the global market
for copper - a critical battery metal 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 as well as
high-grade Cu-Ag-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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