REG - Great Southrn.Copper - Magnetics Surveys Commence at Especularita

Great Southern CopperAnnouncement

06/06/2023 07:00

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RNS Number : 7231B  Great Southern Copper PLC  06 June 2023

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.

 

6 June 2023

 

Great Southern Copper plc

("GSC" or the "Company")

 

Magnetics Surveys Commence at Especularita

 

High-resolution drone survey to help identify copper-gold ("Cu-Au") drill
targets

 

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold
exploration in Chile, is pleased to announce that it has commenced
high-resolution aeromagnetic surveys at its Especularita project.

 

The Company plans to complete two magnetic surveys covering each of its
Teresita and Victoria prospects where recent exploration has identified
outcropping high-grade Cu-Au mineralisation with reported rock chip sampling
results(1,2) up to 6.7% Cu and 13.1 g/t Au. The surveys are designed to
identify and delineate potentially high-grade, vein and breccia type Cu-Au
deposits as described in previous announcements, and will also enhance the
Company's understanding of the district geology.

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "We are
very pleased to commence our first magnetic surveys at the Teresita and
Victoria prospects. Recent exploration work at the prospects suggests that the
alteration associated with the high-grade Cu-Au mineralisation is both
non-magnetic and magnetite-destructive whereas the surrounding wall rocks are
magnetic. Therefore, we expect that zones of potential mineralisation will be
visible in the magnetic data. This will be used to support our drill targeting
for the scout drilling programmes planned for later in the year."

 

Magnetic Survey:

GSC has contracted GFDas UAV & Geosciences of Santiago, Chile to collect
the magnetic survey data using two drone-mounted magnetometers. The surveys
will be flown at an above-ground height of 35m on 50m-spaced grid lines
covering an area of 29.1 km(2) at Victoria (651 line-km) and 22 km(2) at
Teresita (514 line-km).

 

The Company anticipates that the survey will be completed within 3-4 weeks.
Additional processing and interpretation of the data by ExploreGeo of Perth,
Australia, is estimated to be completed within a further 4-6 weeks subject to
availability of consultants.

 

ESG considerations:

The Company is employing the latest in battery-powered drone technology to
collect the magnetic data which has the collective benefits of reducing the
Company's on-ground footprint, reducing CO(2) emissions and noise pollution
compared with using conventional helicopter and plane-mounted systems as well
as significantly reducing the time and cost to complete the survey.

 

References:

1.    GSCU release to the LSE dated 22 November 2022.

2.    GSCU release to the LSE dated 03 April 2023.

 

Enquiries:

 

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

 SI Capital Limited
 Nick Emerson                              +44 (0)14 8341 3500

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

 

Notes for Editors:

 

About Great Southern Copper

 

Great Southern Copper is a mineral exploration company focused on copper-gold
deposits in Chile. The Company has the option to acquire rights to 100% of two
projects that are prospective for large scale copper-gold deposits in the
underexplored coastal belt of Chile, a globally significant mining
jurisdiction and the world's largest copper producer.

 

The two projects comprise the San Lorenzo Project, northeast of the coastal
town of La Serena in northern Chile, and the Especularita Project located
approximately 170km to the south of the San Lorenzo project. The two
early-stage Cu-Au exploration projects are within the same coastal
metallogenic belt as other major deposits including Teck's Andacollo copper
and gold mine. Significant historical small-scale and artisanal workings for
both copper and gold are readily evident in both exploration project areas.

 

Great Southern Copper is strategically positioned to support the global market
for copper, a key metal in the clean energy transition around the world. The
Company is actively engaged in a two-year exploration and evaluation work
programme targeting principally large tonnage, low to medium grade porphyry
style 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 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.

 

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