Announcement

High Grade Gold and Silver Confirmed in-situ at Weolyu

20 December 2017

High-grade gold and silver results from new work on historic South Korean mine

  • Significant new work by Australia’s Southern Gold on historic Weolyu silver mine southeast of Seoul delivers high grade gold results.
  • Excellent potential for gold to drive a future underground mine as the primary ore target, along with silver credits.
  • Diamond drilling and sampling of underground wall faces returned multiple intercepts of high-grade epithermal gold and silver.
  • Best results: 0.92m @ 13.6g/t Au and 447 g/t Ag from drilling and 0.7m @ 17.7 g/t Au and 469 g/t Ag from underground channel sample.
  • Significant lateral and depth extents remaining untested with high grade confirmed in Summit, Moonlight and Surprise vein systems.

Untapped gold upside in Weolyu South discovery

New high-grade gold and silver bearing veins have been discovered by Australian gold miner, Southern Gold Limited (“Southern Gold”) as a result of a significant work program over the southern portion of the historic Weolyu silver mine southeast of the capital Seoul, in central South Korea (Figures 1 and 2).

Historic workings on the mine’s northern section primarily focused on silver extraction, with some gold. However, new assays from Southern Gold’s latest work on the mine’s southern area point to the mine’s untapped high grade gold upside as a potential primary exploration and development target.

Southern Gold’s program at Weolyu South comprised 5 diamond drill holes for 1,256m and 101 channel samples of in-situ vein.

The drilling program successfully intersected high-grade gold and silver bearing banded low-sulphidation epithermal quartz veins at the Surprise, Moonlight and Summit vein systems.

To read the full announcement please download the pdf below:

High-grade gold and silver results from new work on historic South Korean mine