REG - Great Southrn.Copper - Step-Out Hole Confirms Expansion of Mostaza

Great Southern CopperAnnouncement

10/03/2026 07:00

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RNS Number : 9342V  Great Southern Copper PLC  10 March 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.

 

 

10 March 2026

 

Great Southern Copper plc

("GSC" or the "Company")

 

Step-Out Hole 400m South Confirms Expansion of Mostaza Cu-Ag Discovery

with Grades up to 6.55% Cu and 320g/t Ag

 

Mineralisation remains open to the South and at depth

 

Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold-silver exploration in Chile, is pleased to announce the partial
assay results of Hole CNG25-DD042 (DD042) recently received for its Phase III
drilling programme at the Cerro Negro prospect, part of the Especularita
Project.

 

Highlights:

·    Hole CNG25-DD042 tested the interpreted southern extension of Lens 2
some 300m along trend from the Mostaza mine

·   The hole intersected multiple zones or lenses of base and precious
metals mineralisation including significant intercepts

o  21.8m @ 1.04% Cu and 52.26 g/t Ag From 73.0m, including

§ 6.0m @ 2.56% Cu and 128.16 g/t Ag From 79.0m, and

§ 1.6m @ 6.55% Cu and 319.75 g/t Ag From 82.0m

·    An upper Pb-Zn-Ag rich silica breccia zone includes grades up to
22.4g/t Ag, 1.9% Pb and 0.34% Zn similar to the mineralisation identified in
the hanging-wall to Lens 2

·    DD-042 results extends the Mostaza system to over 400m of strike
 length with mineralisation open to the south

·    Pb and Zn rich intervals add further evidence of a complex multiphase
stacked system

·    Results pending for final diamond holes and all RC drill holes

·    Planning for fully funded Phase IV resource and exploration drilling
is in progress

·    GSC holds option to 100% of the Cerro Negro project including the
Mostaza mine

·    Project located at low elevation with excellent access to
mining-related infrastructure

 

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "These
latest results for step-out hole DD042 continue to demonstrate the strong
growth potential of the Mostaza copper-silver discovery. Intersecting
mineralisation at this distance from the historic workings provides further
evidence that the Mostaza Fault Zone hosts a much broader mineralised
footprint than originally recognised and emphasises the significant
exploration upside still to be tested along this emerging trend.

 

"Importantly, the presence of significant Pb and Zn mineralisation in DD042
within an upper silica-sulphide breccia zone underlain by high-grade
chalcocite-clay mineralisation is consistent with the deposit architecture
recognised below the Mostaza mine, reinforcing the exciting proposition that
this represents a potential extension of the Mostaza Lens 2 trend towards the
south.

 

"Exploration work to date has already traced mineralisation and alteration
signatures for over two kilometres of the Mostaza Fault Zone, and this latest
step-out hole is another important confirmation that the system remains open
and continues to grow.

 

"Planning for our fully funded Phase IV drilling campaign is underway and will
focus on in-fill drilling of Lens 2 between the Mostaza mine and the
mineralisation intersected in holes DD07 and DD042, as well as additional
step-out drilling aimed to extend the Lens 2 mineralisation trend further
south along the Mostaza Fault Zone.  In addition, we look forward to
continuing to test the broader potential of the Cerro Negro system."

 

Hole CNG25-DD042 and the Lens 2 Extension:

 

Diamond drillhole DD042 was collared about 300m south and along trend of the
Mostaza Lens 2 mineralisation (see Figure 1) and drilled towards the Southwest
to test for extensions of a new mineralised trend discovered by holes
CNG25-DD007, DD026 and DD027, that is interpreted to be the potential southern
extension of Lens 2 - hence the "Lens 2 extension".

 

Some of the previous holes intercepted high-grade mineralisation over
significant widths, such as hole CNG25-DD007 which intersected 33m @ 1.96% Cu
and 60.6 g/t Ag from 87m² (see Figure 1).

 

In contrast, hole DD026 intersected multiple narrow (<1m) intervals or
lenses with grades up to 1.98% Cu and 94.1g/t Ag(1), suggesting the
mineralisation might be pinching out or is overprinted by complex shearing and
faulting.

 

Hole CNG25-DD042 was designed to test to the south of this structurally
complex zone to demonstrate continuity (see Figure 1). The results are shown
below. Near the top of the hole, it intercepted silica-sulphide assemblage
mineralisation with pyrite-chalcopyrite-galena-sphalerite (see Figure 2)
associated with silica-rich hydrothermal breccia on the margins of a coarse
feldspar porphyry. At depth the hole intersected two intervals of
crackle-veinlet and disseminated chalcocite-clay assemblage mineralisation
(see Figure 2) and an aphanitic dyke as seen in Lens 2.

 

        From (m)      To (m)      Interval (m)  Cu%   Ag g/t  Pb%   Zn%
        3.00   4.60         1.60                0.08  19.10   1.39  0.02

        16.13  25.60        9.50                0.67  36.24
 Incl.  19.0   25.0         6.0                 0.81  46.32

        56.75  65.0         8.3                 0.01  1.05    0.13  0.2
 Incl.  58.0   61.0         3.0                 0.02  1.31    0.15  0.32

        69.13  70.3         1.2                 1.02  57.3

        73.0   110.8        21.8                1.04  52.26
 Incl.  74.0   76.1         2.1                 1.23  69.29
 and    79.0   85.0         6.0                 2.56  128.16
 Incl.  82.0   83.6         1.6                 6.55  319.75
 and    103.7  106.0        2.3                 1.15  52.26
 and    110.0  110.8        0.8                 1.68  89.0

 

The deposit geometry observed in DD042 comprising an upper Pb-Zn rich
silica-sulphide breccia and lower Cu-Ag rich chalcocite-clay lens is
consistent with that observed and recently reported for holes in Lens 2(1) and
suggests the mineralisation intersected here could potentially represent the
southern extension of the Lens 2 mineralisation discovered beneath the Mostaza
mine. Consequently, in-fill drilling designed to potentially connect the Lens
2 mineralisation between these two centres will be a focus of the Phase IV
programme.

 

The results of hole DD042 suggest that the mineralisation may be coalescing
and/or thickening to the south. This "pinch and swell" geometry, with
alternating thick "lodes" separated by narrow "pinch-outs" is not uncommon for
structurally-controlled ore deposits. Importantly, the mineralisation remains
open and untested to the south under shallow cover. This area will also be
targeted with step-out drilling in the Phase IV campaign.

 

The reported trend of significant Cu-Ag mineralisation intersected in drilling
now measures over 400m in strike length, from the northern edge of the Mostaza
mine to the intercept in hole DD042 (see Figure 1). This lies within the
broader 2.5km trend of surface alteration and mineralisation (Mostaza Fault
Zone) extending from Lens 1 to the south and defined by mapping, rock chip
geochemistry and IP geophysics surveys(3).

 

Figure 1: Location of step-out hole DD042 highlighting interpretation of the
potential strike extent of the Lens 2 mineralisation trend. In-fill and
extensional drilling plan for Phase IV also indicated.

 

Figure 2: Photographs of DD042 HQ drillcore illustrating the upper
near-surface silica-sulphide breccia zone (a - c) with anomalous Pb-Zn-Ag
mineralisation, and the lower chalcocite-clay zone (d - f) illustrating
crackle vein and disseminated high-grade copper-silver mineralisation.

 

Note regarding Laboratory turn-around times

 

Chile is experiencing a rapid increase in exploration activity, coinciding
with the summer exploration season in the high Andes (November to April) and
further compounded by rising metal prices. Consequently, sample preparation
times are significantly longer than in the past, with turnaround times of over
two months now typical for assay results.

 

The Company has implemented strategies designed to improve the turn-around
times and reduce costs including prioritising the sampling of clear mineral
zones identified in the core and despatching these to the lab in advance of
the remainder of the holes' samples.

 

The Company does not intend necessarily to release assay results for
individual or partial drillholes in a piece-meal fashion in the future,
however, the results reported here for partially-sampled DD042 are considered
highly significant due to their potential impact on the interpretation of the
Mostaza deposit and the on-going planning of the Phase IV drilling programme.

 

 

  References:

1.    RNS 1749L (11 Dec 2025): Drilling extends mineralisation at Mostaza

2.    RNS 8896D (7 April 2025): Further Exceptional Assay Results from
Mostaza

3.    RNS 9585U (12 Aug 2025): Final IP Geophysical Results Define Multiple
New Drill targets at Cerro Negro

 

 

Enquiries:

 

 Great Southern Copper plc             c/o BlytheRay
 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-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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