REG - Great Southrn.Copper - Scout RC Drilling at Viuda

Great Southern CopperAnnouncement

16/04/2025 07:00

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RNS Number : 2553F  Great Southern Copper PLC  16 April 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.

 

 

16 April 2025

 

Great Southern Copper plc

("GSC" or the "Company")

 

Scout RC Drilling at Viuda Confirms Potential for Mineralised Porphyry Style
Au-Ag-Cu System

 

Diamond drilling to commence at Viuda Negra targeting porphyry Au-Ag-Cu style
vein system with assays up to 4.2 g/t Au, 145 g/t Ag, and 0.56 % Cu in
outcrop.

 

 

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold
exploration in Chile, is pleased to report the results of scout reverse
circulation ("RC") drilling and ground exploration activities at its Viuda
Prospect, part of GSC's extensive Especularita Project, Chile.

 

Highlights:

 

·   Seven initial scout RC holes drilled for 1,020 m confirm a broad-scale
porphyry alteration system with zoned geochemistry and trace element trends
consistent with porphyry type deposits

·    Hole RC005 returned 12m at 1.5 g/t Au and 0.47% Cu from 132m,
including 2m at 4.4 g/t Au and 0.94 % Cu from 136m

·  Results indicate increasing widths and grades of metal Au-Cu-Ag and
trace-element Mo-Bi-Sb-Se geochemistry to the south coincident with
quartz-pyrite (±chalcopyrite) veining and breccia hosted in pervasive
alteration characteristic of porphyry Au (±Cu) deposits

·    Diamond drilling to commence targeting porphyry Au style sheeted
quartz veins discovered at new Viuda Negra prospect with grades up to 4.2 g/t
Au, 145 g/t Ag and 0.56 % Cu in outcrop

·    Phase II diamond drilling at Mostaza completed with 16 holes drilled
for total of 1,701.7m

·    Company holds options to own 100% of Viuda and Viuda Negra

·    Project located in coastal metallogenic belt with excellent access
and infrastructure

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "The
Phase II drilling programme at Mostaza is now complete. Whilst we begin the
detailed work of evaluating all the drill results to this stage the proposed
metallurgical test work and detailed exploration along trend will continue.

 

"Exploration across the broader Especularita portfolio has also been
continuing with a diamond drilling rig now mobilising to our new Viuda Negra
prospect to test exciting gold, copper and silver anomalies identified in
recent soil and rock chip sampling programmes. Viuda is located 20 kilometres
to the southwest of the high-grade copper-silver mineralisation at Mostaza and
represents a different style of target, namely large-scale, porphyry type
gold, silver and copper mineralisation.

 

"Evaluation of results from our recent scout RC drilling programme at Viuda
has successfully confirmed the type of alteration and associated zonation
patterns of metals and trace elements that is characteristic of porphyry type
deposits. Analysis of trace-element vector patterns suggests that widths and
grades of mineralisation is potentially increasing toward the south. In
addition, follow-up of multi-element soil anomalies has led to the discovery
of a new gold-silver prospect at Viuda Negra with outcrop samples grading up
to 4.2 g/t gold and 145 g/t silver.

 

"With gold prices currently at all-time highs, the gold-silver rich
Maricunga-style porphyry gold and copper vein alteration evident in outcrop at
Viuda represents a very exciting target for GSC."

 

Viuda prospect

The Viuda prospect, located approximately 20km to the southwest of the
Company's Cerro Negro prospect (Figure 1), is part of GSC's Especularita
Project comprising 18km(2) of concessions centred upon a prominent hill of
resistive silicified rock (Chingay Hill) and surrounded by a large (2km
diameter) bowl-shaped depression ("bajo") - a geological setting typical of
many porphyry deposits(1) (Figure 1) formed by supergene weathering and
oxidation of the dominantly albite-pyrite-clay altered volcanics and intrusive
rocks. The zoned, clay-rich alteration also produces a distinctive colour
anomaly in spectral imagery(2).

 

 

Figure 1. Location of the Viuda Project, Especularita (left) and Geological
map of Viuda and Viuda Negra prospects showing main features and location of
inset maps (right). The roughly circular zone of albite-pyrite-clay alteration
coincides well with satellite imagery and soil geochemistry.

 

Results of scout RC Drilling

Broad-spaced, reconnaissance scout RC drilling at Viuda was designed to
improve geological understanding of the project and provide metal and
trace-element geochemistry with the aim to see beneath the leached,
supergene-altered surface and vector future exploration efforts toward
potential centres of porphyry type mineralisation(3). A total of seven holes
were completed, initially surrounding the central Chingay Hill area, for a
total of 1,020m (Figure 2).

Drillholes VIU25-RC001, 002, 003 and 006 were drilled as a fence across the
northern side of the Chingay Hill where north-south trending corridors of
mineralisation were previously mapped (Figure 3). The drillholes intercepted
strongly pyrite-albite-clay altered volcanic and intrusive rocks with up to
10% disseminated pyrite with broad zones (>5-50m) of anomalous silver
(>0.1 g/t Ag) including localised zones of quartz-sulphide veinlets grading
up to 8m at 0.19% Cu (VIU25-RC003).

 

Drillholes VIU25-RC004, 005 and 007 were drilled to the South of Chingay Hill
testing the southern extension of the mapped corridors (Figure 3). VIU25-RC004
intercepted anomalous silver (>0.1 g/t Ag) plus pathfinder trace elements
Mo, Bi, As, Sb and Se across the entire drillhole, with quartz-sulphide
veinlets and breccias associated with intermediate and advanced argillic
alteration grading up to 2m at 0.33% Cu.

 

VIU25-RC005 was drilled 200m south of RC004 and intercepted zones of
quartz-sulphide veinlets associated with magnetite-albite-chlorite and
pyrite-albite-clay alteration grading up to 12m at 1.5 g/t Au and 0.47% Cu
including individual samples up to 4.39 g/t Au and 0.94% Cu. Silver, together
with pathfinder elements Mo, Bi, Sb and Se were also anomalous along the
entire drillhole and at higher grades than other drillholes.

 

Preliminary analysis of results indicate that alteration intensity and
mineralised intervals and grades for Cu-Ag-Mo-Sb-Bi-Se are increasing to the
south, suggesting that the potential for higher grades may continue in this
direction. Further work, including detailed mapping, geophysics and additional
scout drilling is being planned.

 

 Figure 2. Viuda Project, Drill Location Map showing the location of scout RC
drillholes and interpreted corridors of quartz-sulphide veinlets and breccia
in red.  Geochem vector trends indicate the system is improving toward the
south.

 

Figure 3. Viuda Project: Geological sections for Viuda scout holes showing
interpreted zones of quartz-sulphide veining with relevant assay result
intercepts of anomalous Cu-Au plus Ag and trace elements indicative of
porphyry type mineralisation.

 

Viuda Negra Prospect:

Follow-up mapping of the soil geochemistry results from a project-wide survey
has discovered outcropping sheeted and stockworked banded-quartz veins at
Viuda Negra, located 1km to the northeast of Changay Hill, that are typical of
Au-rich porphyry systems. Subsequent channel chip sampling across the outcrops
has returned assays up to 1m at 4.2 g/t Au and 0.12% Cu (Figure 4). Nearby
several epithermal-style ledges were also discovered with intense multi-stage
quartz veinlet stockworks associated with advanced argillic alteration. Rock
chip sampling of several of the ledges returned values up to 145 g/t Ag and
0.56% Cu (see Figure 5).

 

Scout diamond drilling is planned, and a drill rig has been mobilised, to test
the outcropping ridges of anomalous gold and silver mineralisation at Viuda
Negra. Up to 4 drill holes are proposed for a total of up to 400 - 500m.

Figure 4: Geology and recent rock chip geochemistry results for Viuda Negra
prospect, Viuda.

 

Figure 5: Viuda Negra: Left -sheeted quartz veins at Cruachan Hill with rock
chip assay results up to 4.2 g/t Au and 0.12% Cu. Right - Advanced argillic
altered HS style "Ledge" at Scarlett Ridge with up to 29.9 g/t Ag. Similar
rocks also yield up to 145 g/t Ag.

 

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.

3. RNS 4525N (25 Nov 2024): Drilling commences at Viuda prospect,
Especularita.

 

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 copper
producer.

 

The two, early-stage Cu-Au projects comprise the 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.

 

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.

 

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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