REG - Great Southrn.Copper - Scout RC Drilling Commences at Victoria Target

Great Southern CopperAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260602:nRSB5465Ga&default-theme=true

RNS Number : 5465G  Great Southern Copper PLC  02 June 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.

 

 

02 June 2026

 

Great Southern Copper plc

("GSC" or the "Company")

 

Scout RC Drilling Commences at Victoria Porphyry Copper Target

 

Drilling to also test high-grade breccia-vein and disseminated copper
mineralisation

 

Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold-silver exploration in Chile, is pleased to announce that scout RC
drilling has commenced at the Victoria porphyry copper target at the
Especularita Project, while drilling recently completed at the nearby Artemisa
North target has confirmed evidence of a strong porphyry copper-style
alteration system.

 

Highlights:

 

Victoria

·    Scout reverse circulation ("RC") drilling commences at Victoria
porphyry copper prospect, located at the southern margin of the La Colorada
lithocap

·    Four holes planned to test high-grade vein and disseminated type
mineralisation identified in outcrop

·    Drilling to test beneath artisanal and small-scale workings

·    Rock chip geochemistry results grade up to 6.9% Cu, 1.85g/t Au and
84.8g/t Ag(1)

·    Large-footprint system open under shallow gravel-scree cover

·    No previous drilling of the target

·    GSC holds rights to own 100% of the Victoria target

·    Prospect located at low elevation with excellent access to
infrastructure and mining services and along trend of major copper deposits
including Los Pelambres, Altar and El Pachon.

 

Artemisa North

·    Scout RC drilling completed at Artemisa North prospect with five
holes drilled for 796 metres ("m")

·    All holes successfully intersected biotite-chlorite-magnetite
alteration with variable sulphide mineralisation

·    Style and intensity of alteration provide proof-of-concept
confirmation of a porphyry copper type setting at Artemisa North intersected
at shallower depths than expected and further increasing prospectivity of the
broader La Colorada lithocap

·    Samples for the first four holes at Artemisa North have been
despatched to ALS Laboratories in Santiago

·    GSC holds rights to own 100% of the Artemisa North target

 

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "Victoria
is the third of four targets to be tested with scout RC drilling in the
current porphyry exploration programme. This programme is focusing on targets
on the western and southern margins of the La Colorada lithocap that display
geological, geochemical and spectral features that are characteristic of
porphyry copper systems. Drilling will also test beneath high-grade
copper-gold-silver mineralisation identified in old workings, providing an
opportunity to assess both the broader porphyry potential and the higher-grade
mineralised structures observed at Victoria.

 

"The drilling programme is progressing well with both the Piedras Blancas and
Artemisa North programmes now successfully completed. Combined with the
encouraging geological observations from Piedras Blancas, these results
continue to strengthen our confidence in the broader prospectivity of the La
Colorada lithocap to host a significant porphyry copper system. We look
forward to receiving and reporting assay results in due course.

 

"Meanwhile, the AMT geophysics survey is in progress across the western half
of the lithocap and exploration mapping and sampling activities are continuing
at both the Cerro Negro and Viuda prospects as we prepare for the next phase
of drilling activity in those areas."

 

Victoria Porphyry and Breccia-Vein Target:

 

The Victoria prospect is located 2.5km southeast of the Artemisa North
drilling target along the southern margin of the La Colorada lithocap (Figure
1). The Especularita project is situated at low altitude within the
Cretaceous-age coastal metallogenic belt, within a northwest-southeast
trending structural lineament that links the project with notable large-scale
porphyry Cu-Au mines and projects, including Los Pelambres, Altar and El
Pachon (Figure 1).

 

Figure 1: GSC's Especularita project is located at low altitude within the
coastal metallogenic belt of northern Chile and within 50km radius of over
50Mt of contained copper metal defined in mines and advanced projects.

 

Whilst much of the Victoria prospect area is covered by shallow gravel and
scree deposits, mapping and sampling demonstrate that the target area
encompasses a complex geologic intersection where the La Colorada lithocap is
in structural contact with the Quilitapia batholith and the overlying
andesitic volcanics separated by the regionally-extensive southeast-trending
Victoria Fault (Figure 2).

 

To the south of the Victoria Fault high-grade copper-gold-silver
mineralisation, grading up to 6.9% Cu, 1.84g/t Au, and 84.8g/t Ag(1) is
associated with a set of north-south trending breccia-veins that are
interpreted to extend out into the batholith and volcanics from the adjacent
and overlying lithocap alteration. Float samples of the Victoria vein-breccias
have previously reported gold grades up to 4.29g/t Au(2), indicative of a
gold-rich system in contrast to the Mostaza style high-grade copper-silver
mineralisation. Copper occurs typically as coarse, blebby disseminations of
chalcopyrite and lesser bornite within the quartz breccia matrix (Figure 3).

 

In addition to the breccia-veins, high-grade copper at Victoria also occurs in
quartz veinlets within steeply-dipping, structurally-controlled stockwork
zones. High-grade disseminated copper is typically observed where these
stockwork-mineralised structures interact with the hornfelsed andesitic
volcanics. In this setting, the copper is recognised as black copper pitch or
"wad" as fine disseminations or remobilised onto fracture planes (Figure 4).

 

The scout RC drilling programme at Victoria is planned to test both of these
copper mineralisation styles.

 

 Figure 2: Geology and rock chip copper geochemistry map of the Victoria
prospect illustrating location of proposed scout RC drill holes.

 

 

Figure 3: Outcrop of quartz-sulphide matrix vein breccia (l), coarse
disseminated chalcopyrite hosted in quartz matrix breccia.

 

Figure 4: Green and black oxide copper mineralisation on fractures in
hornfelsed andesitic volcanics from artisanal mine spoil.

 

Artemisa North Porphyry Target:

 

Drilling at the Artemisa North target has been completed with five scout RC
holes drilled for a total of 796m. Samples for the first four holes, ART26 005
- 008 have been despatched to ALS Laboraties in Santiago.

 

Holes ART26 RC005, 006, 007 and 009 were drilled across a north-south trend of
historical artisanal mine workings with abundant copper oxides and local
specular hematite and quartz matrix breccias exposed at surface. All holes
intersected dioritic rocks with pervasive chlorite-biotite-magnetite
alteration with variable disseminated pyrite up to several percent and traces
of chalcopyrite and quartz veins (Figure 5).

 

Hole ART26 RC008 was drilled to test a large zone of outcropping sericite
alteration with quartz-limonite (after sulphide) veinlets and anomalous Mo in
rock chip samples. The hole intersected strong chlorite-biotite-magnetite
alteration in dioritic rocks, with widespread disseminated pyrite averaging
several percent and locally over 20 percent. Traces of chalcopyrite and
sphalerite and possible stockwork quartz veining are seen to increase
generally down the hole (Figure 5).

 

These geological results are consistent with the potassic zone of porphyry
copper systems, possibly developed in a precursor intrusive complex, and are
potentially continuous with the potassic alteration intersected in the Piedras
Blancas drilling to the north(3), and further reaffirm our interpretation that
we are testing the fringes of a large porphyry copper system which we believe
underlies the extensive La Colorada lithocap to the east.

 

 

Scout RC Drill Programme and Sampling:

 

Scout RC drilling recently commenced at Victoria with a view to test the
prospect for evidence of porphyry copper-gold and high-grade breccia-vein
mineralisation and to provide vectors towards targets beneath the undrilled
Colorada lithocap. A preliminary test comprising up to 1000m of drilling in at
least four scout RC holes is now underway to assess the alteration and
mineralisation.

 

The RC drilling method employed at Especularita collects samples on two-metre
intervals. Representative samples for each sample of the cuttings are
collected in large, individually numbered plastic bags, which are then weighed
and transferred to a riffle splitter where they are separated (or split), and
homogenised, three times into two duplicate samples of approximately 5kg each.
GSC personnel then ticket and label one of the ±5kg samples using preprinted
ticket books.

 

Finally, standard reference materials ("SRM's" or "Standards"), blanks, and
duplicate samples are inserted into the sample sequence for the purpose of
quality assurance / quality control ("QAQC"). The second ±5kg sample is used
for geological description and stored for reference. An additional reference
selection of cuttings for each two-metre sample is also retained in labelled
boxes as a record of the geology of the drill hole.

 

At the completion of each hole, the representative 5kg samples are transported
as a batch from the field and delivered by Company employees to ALS
Laboratories in Santago or La Serena where they are prepared for analysis
(weighed, dried, crushed and pulverised). A subsequent 200g split of each
sample pulp is then forwarded to the ALS geochemical laboratory in Lima, Peru,
where samples are assayed for gold (30g fire assay with ICP-AES finish, ALS
code AU-ICP21) and 48 major, base and trace elements by ICP-MS following a
four-acid digest (ALS code ME-MS61).

 

RC drilling was selected for this initial proof-of-concept stage as it is
faster and cheaper than diamond drilling and allows for the rapid testing of
more targets for the same cost.

 

 

 

 

 

Figure 5: Chip samples from Artemisa North drill holes (top row); Drillhole
ART26 RC007, representative drill cuttings demonstrating
chlorite-biotite-magnetite altered diorite with disseminated and veinlet
pyrite±chalcopyrite at from left-to-right 56-58m,  120-122m, 134-136m,
(bottom row); Drillhole ART26 RC008, representative drill cuttings
demonstrating chlorite-biotite-magnetite altered diorite cut by veinlets of
quartz-pyrite±chalcopyrite, and hairline veinlets of pyrite±chalcopyrite
from left to right at 80-82m,  144-146m, 186-188m

 

 

Next Steps at Especularita:

 

Following the completion of the Victoria scout RC drilling programme, the rig
will proceed to the Artemisa South prospect to complete similar drill tests
targeting porphyry-related copper mineralisation.

 

Final results are awaited for the Mostaza metallurgical test work conducted on
Phase I and II high-grade core samples. Planning and permitting for Phase IV
drilling at Cerro Negro, including Mostaza, are in progress.

 

The AMT geophysics survey across the La Colorada lithocap is in progress.
Planning for extensions to the Cerro Negro IP survey is also underway and
anticipated to commence during June 2026.

 

Detailed prospect-scale mapping and sampling are continuing at both the Viuda
and Cerro Negro prospects. New results from this ongoing work, together with
results of the planned geophysics surveys, will direct targeting for the next
phase of drilling at both Cerro Negro and Viuda.

 

 

References:

1.    RNS 0445B (03 April 2023): Rock Chip Assay Grades up to 6.9% Cu and
1.85g/t Au in Outcrop from Victoria Prospect

2.    RNS 2868U (27 March 2023): Float Sampling at Victoria Prospect
Completed with Grades up to 2.1% Cu and 4.29g/t Au

3.    RNS 1366E (13 May 2026): Drilling commences at Artemisa North
porphyry target

 

 

 

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/y5XY3P (https://gscplc.com/link/y5XY3P)
 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

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLDZGGVRMRGVZM



            Copyright 2019 Regulatory News Service, all rights reserved