REG - Great Southrn.Copper - Phase II Drilling Commences at the Mostaza Deposit

Great Southern CopperAnnouncement

11/03/2025 10:30

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RNS Number : 2017A  Great Southern Copper PLC  11 March 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.

 

11 March 2025

 

Great Southern Copper plc

("GSC" or the "Company")

 

 

Phase II Resource Drilling Commences at the Mostaza Cu-Ag Deposit, Cerro Negro

 

Two diamond rigs mobilised to expand resource and test exploration targets

 

 

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and
silver exploration in Chile, is pleased to announce that Phase II drilling has
commenced at its Mostaza Cu-Ag prospect, Cerro Negro.

 

Highlights:

·    Phase II drilling commenced at Mostaza utilising two diamond drill
rigs

·    Drilling to target depth and strike extensions to high-grade Cu-Ag
mineralisation following results of CNG25-DD001(1)

o  20m @ 3.31% Cu and 270g/t Ag from 27m, including

o    7m @ 5.72% Cu and 490g/t Ag from 31m

·    Exploration drilling along trend south of the Mostaza pit also
planned

·    Initial plans are to drill approximately 1,000-1,500m with additional
drilling subject to results

·    Results for Phase II drilling to assist commencement of metallurgy
and geotechnical studies

·    Core samples for Phase I drill holes CNG25002 - 009 are at ALS
Laboratories with assay results pending

 

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said:
"Following the exciting results delivered by the first hole of our Phase I
drill programme, our team in Chile is champing at the bit to get started with
the Phase II drilling at Mostaza.

 

"This programme represents a significant escalation of activity at Cerro Negro
and aims to take maximum advantage of the Phase I drilling permit process
which allowed for drilling to April of this year. Preparations to extend the
drilling time-frame are also in progress.

 

"Besides continuing to deliver important information regarding the geology of
the Mostaza deposit, the results for this drilling will also contribute to the
commencement of metallurgical and geotechnical studies."

 

GSC Commences Phase II Drilling at Mostaza Cu-Ag mine, Cerro Negro

 

Two diamond drill rigs, from Chilean company R. Muñoz based in nearby La
Serena, arrived on site on Monday 10 March and have commenced drilling
operations including environmental and safety inspections and inductions.

 

One rig is positioned within the Mostaza mine pit area to test for depth and
strike extensions to the known mineralisation intersected by Phase I
drillholes CNG25DD001 - DD005, including CNG25DD001 which intersected 20m @
3.31% Cu and 269.89 g/t Ag from 27m depth(1).

 

The purpose of this drilling is to expand the historical resource area on a
semi-regular grid pattern that will, if results warrant, allow progression to
a new JORC resource estimate.

 

The second rig is positioned approximately 500m along strike to the south
where it will test new exploration targets below and around Lens 4, where
limited historical drilling reportedly failed to reach the intended target
mineralisation.

 

Results for the Phase II drilling will also be used to commence metallurgical
and geotechnical studies.

 

References:

1.    RNS 5182Y_LSE_Cerro Negro assays return 20m @3.3% Cu & 270g/t Ag

 

 

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

 

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.

 

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 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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