REG - Great Southrn.Copper - Ground Magnetics Identifies New Targets at Viuda

Great Southern CopperAnnouncement

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RNS Number : 7906Z  Great Southern Copper PLC  09 April 2026

 

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.

 

 

09 April 2026

 

Great Southern Copper plc

("GSC" or the "Company")

 

Ground Magnetic Survey Identifies New Targets at Viuda

 

Results highlight magnetite destructive zones coincident with porphyry-type
gold-copper mineralisation and alteration

 

Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold-silver exploration in Chile, is pleased to announce that it has
received final results from a recently completed ground magnetic survey at its
Viuda porphyry gold-copper prospect ("Viuda") located within the Company's
Especularita Project.

 

Highlights:

·    Survey comprised 198 line-kilometres ("km") of ground magnetics
across the Viuda prospect

·    Ground-truthing confirms magnetic-low anomalies and lineaments
demonstrate strong correlation with mapped porphyry-style alteration,
structures and known gold-copper mineralisation

·    Multiple new targets identified consistent with porphyry-style
mineralisation

·    Large untested magnetic low anomaly identified beneath gravel cover
west of Viuda Negra

·    Detailed mapping and sampling in progress to support interpretation
and drill targeting

·    Planning and permitting for Phase II drilling at Viuda are in
progress

·    Company holds options to own 100% of the Viuda prospect

·      Viuda and Viuda Negra are part of the Especularita Project
located in Chile's coastal metallogenic belt with excellent access to
infrastructure

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "The
completion of the ground magnetic survey at Viuda represents an important step
in advancing our understanding of this emerging porphyry-related gold-copper
system. The results clearly define broad-scale geological features as well as
discrete magnetic-low features that coincide with mapped alteration and known
gold-copper mineralisation, reinforcing our interpretation that mineralisation
is potentially related to magnetic porphyry intrusives and associated
enveloping zones of magnetite-destructive alteration.

 

"Earlier reported exploration by GSC at Viuda identified Maricunga-style
porphyry gold mineralisation which has been confirmed in subsequent drilling
with broad zones of gold and copper intersected which is indicative of the
potential for a large-scale gold-copper porphyry system similar to those
occurring in the Maricunga Belt of northern Chile. Importantly, the magnetic
data provides a clear vector towards potential higher-grade centres within the
system. Integration of the geophysics with ongoing detailed mapping and
surface sampling will directly support refined drill targeting as we progress
toward a Phase II drilling programme anticipated in Q2 2026. We look forward
to updating shareholders as this work continues."

 

Ground Magnetic Survey:

 

Final processed results have been received for a 198 line-kilometre ground
magnetic survey covering approximately 6 square kilometres ("km(2)")of the
Viuda prospect (Figure 1), including Viuda Negra, where previous rock chip
sampling and scout drilling discovered a mineralised porphyry gold
system(1,2). High-resolution ground magnetic data were acquired by Southern
Rock Geophysics on a nominal 50 metre ("m") line spacing and processed to
generate Total Magnetic Intensity ("TMI"), Reduced-to-Pole ("RTP"), Analytical
Signal of the Vertical Integral ("ASVI") and Magnetisation Vector Inversion
("MVI") products. ExploreGeo of Australia provided additional specialist
processing and interpretation.

 

Figure 1: Location of Viuda prospect and the Especularita Project, Chile. The
project is located at low elevation within the coastal metallogenic belt and
along trend of significant mines and projects in development.

 

 

Survey Results and Interpretation:

 

Preliminary interpretation of the Viuda ground magnetic data by consulting
firm ExploreGeo of Australia has identified magnetic features, anomalies and
lineaments that demonstrate a strong spatial correlation with mapped
alteration, structures and known gold-copper mineralisation. The prospect is
dominated by a broad circular region of magnetic low, approximately 2km in
diameter, which correlates closely with the distinctive colour anomaly that
defines the Viuda prospect, and is associated with broad-scale
magnetite-destructive pyrite-sericite-clay alteration (Figure 2). Within the
broad low discrete magnetic highs, where buried, have the potential to
represent mineralising intrusives.

 

At Viuda Negra, gold-copper mineralisation mapped at surface and intersected
in drilling is spatially coincident with a northwest-trending magnetic low
interpreted to represent magnetite-destructive clay alteration. The magnetic
low extends approximately 500m to both the NW and SE of existing drilling,
indicating potential for mineralisation to extend beyond currently tested
areas. Field mapping and sampling of these areas are in progress. Immediately
east of Viuda Negra, a discrete magnetic high anomaly crops out as a magnetic
post-mineral intrusive.

 

In the area of scout RC drilling, gold-copper mineralisation is spatially
associated with the margin of a discrete magnetic high interpreted to
represent magnetite-albite-chlorite altered diorite intrusive (Figure 2). This
magnetic body remains untested by drilling.

 

West of the outcropping Viuda Negra mineralisation, a large northwest-trending
magnetic low, measuring approximately 1.8 km by 0.5 km, with a magnetic
signature comparable to the known mineralisation and alteration at Viuda Negra
is buried by shallow gravel deposits (Figure 2). Multiple intersections of NW
and NE trending structures are also interpreted within this area, which
represents a high-priority concealed porphyry target that remains untested by
drilling. 3D inversion modelling of the magnetics also highlights the strong
relationship of known gold-copper mineralisation with magnetic low regions and
mapped magnetite-destructive pyrite-sericite-clay alteration (Figure 3) and
further emphasises the target potential of the gravel-covered low anomalies
for porphyry gold-copper type mineralisation.

 

Interpretation of the magnetic data is ongoing and is being integrated with
detailed geological mapping and surface sampling, currently in progress. This
combined dataset will be used to refine the geological model and prioritise
targets ahead of the next phase of drilling.

 

 

Figure 2: Analytical Signal of the Vertical Integral (ASVI) image for Viuda
survey showing outline of magnetite-destructive pyrite-sericite-clay
alteration (black dash polygon) with GSC drill collar locations. Large central
magnetic low anomaly covered by gravel is highlighted (l). Same scale Landsat8
image (clay-ser-hem) for Viuda prospect (r).

 

 

Figure 3: Cross Section of the Magnetisation Vector Inversion (MVI) model
across the Viuda and Viuda Negra prospects (looking to the northwest) showing
drillholes and zones of interpreted magnetite-destructive alteration.

 

Porphyry Gold-Copper Mineralisation at Viuda:

 

Scout diamond drilling at Viuda Negra in 2025 targeted outcropping Maricunga
style banded quartz veining with coincident gold-copper anomalism in rock chip
samples. The holes intersected broad zones of vein alteration with anomalous
gold-copper mineralisation consistent with known porphyry gold type deposits
including significant intervals(2);

 

o  DD004: 121.5m @ 0.11 g/t Au & 0.05% Cu from 6.5m, including

§ 6.7m @ 0.39 g/t Au & 0.12% Cu from 43.1m Maximum assay of 0.55 g/t Au

o  DD002: 73m @ 0.14 g/t Au & 0.1% Cu from 11m including

§ 14.2m @ 0.21 g/t Au & 0.11% Cu from 11m

 

The discrete higher-grade interval in DD004 is associated with a porphyritic
microdiorite intrusive phase which is over-printed by abundant banded and
A-type quartz veinlets and intense, magnetite-rich potassic alteration (Figure
4). This is interpreted as an early-mineral porphyry phase and suggests that
higher-grade centres may be present elsewhere within the system.

 

The scout drilling confirms that gold and copper mineralisation is associated
with stockwork and sheeted dark-banded and A-type quartz veinlets within
widespread intermediate-argillic and magnetite-albite-chlorite altered diorite
porphyry intrusives. The mineralisation and alteration observed at Viuda are
typical of Maricunga-style gold porphyry systems (Figure 5), such as Kinross
Gold's Lobo-Marte deposit (6.7Moz Au at 1.3 g/t(3)), Maricunga (4.3 Moz at 0.7
g/t(4)) and Rio2's Fenix deposit (1.77 Moz Au at 0.48 g/t Au(5)).

 

 

 

Figure 4: Viuda Negra Prospect. Drillhole  VNE25-DD004 - 57-60m. Stockwork
and sheeted dark banded quartz veinlets. Assay 0.17 g/t Au.

Figure 5: Viuda Negra drilling section and results (r) compared with the
Caspiche porphyry Au-Cu deposit.

 

 References:

1.    RNS 2553F (16 April 2025): Scout RC Drilling at Viuda

2.    RNS  4145X (1 September 2025): Results of Scout Drilling at Viuda
Negra

3.    Kinross Gold 2024 Annual Mineral Resource and Resource Statement

4.    Kinross Gold 2015 Annual Mineral Resource and Resource Statement

5.    NI 43-101 Technical Report on the Feasibility Study for the Fenix
Gold Project

 

 

 

Engage with the GSC management team directly by asking questions, watching
video summaries and seeing what other shareholders have to say. Navigate to
our Interactive Investor hub here: https://gscplc.com/ (https://gscplc.com/)

 

 

Enquiries:

 

 Great Southern Copper plc             https://gscplc.com/link/rvvabr (https://gscplc.com/link/rvvabr)
 Sam Garrett, Chief Executive Officer  +44 (0) 20 7138 3204

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

 BlytheRay
 Megan Ray / James Mulligan            +44 (0) 20 7138 3204

                                       GSC@blytheray.com

 

Subscribe to our news alert service: https://gscplc.com/auth/signup
(https://gscplc.com/auth/signup)

 

 

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-silver deposits in Chile. The Company has the
option to acquire mining rights to 100% of Especularita project in the
under-explored coastal belt of Chile that is prospective for large scale
copper-gold-silver deposits. Chile is a globally significant mining
jurisdiction being the world's largest producer and exporter of copper.

 

The Especularita Project is 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 the exploration
project area. 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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