Announcement

High Grade Rock Chips at Lake Consols

29 June 2017

Lake Consols Rock Chip Results up to 168g/t Au on poorly explored system

  • Prospect scale mapping and rock chip sampling in the Lake Consols area has located several highly promising gold targets prioritised for drill testing
  • Highlights include up to 168g/t Au in quartz vein and 51.6g/t Au in sheared dolerite from surface samples at the Dibbler Zone

Very High Grade Surface Rock Results at Lake Consols

Southern Gold is farming into the Glandore Gold Project, currently held by Aruma Resources and can earn up to 90% of the project after expenditure of $1.2m (see ASX Release 4 April 2016). The Glandore Gold Project is approximately 45km east of Kalgoorlie, WA. Southern Gold has completed expenditure of $300,000 during the first year and earnt the right to 50% of the project.

An ongoing program of mapping and rockchip sampling has been undertaken across the broader Glandore Project area. To date, 128 rockchip samples have been collected. Fifteen rock chip samples were collected from the historic Lake Consols region (Figure 1) sampling mainly quartz vein and sheared dolerite and basalt from mullock at a series of old workings (Photos 1 and 2). The Lake Consols workings produced 3.28 kg of Au from 152 tonnes mined in the 1930’s for an average grade of 21.578 g/t (MINDEX records).

The majority of rock chip samples were collected from a section of workings which has only one recent drill hole (GP65 – 1996) which may not have adequately tested the main mineralisation. Quartz vein samples ranged from 16.77 g/t Au to 168 g/t Au. The sheared dolerites/basalts ranged from 0.46 g/t Au to 51.63 g/t Au (see inset, Figure 2).

Graphitic sediments could be a key factor in controlling the localisation of high grade mineralisation as the highest grades are closest to the dolerite/schist contact. The sampling defines an approximately 100m strike of very strongly anomalous sheared and altered basalt. The proximity of this zone to the contact with a package of graphitic sediments has been over looked by previous explorers.

Further extension of the sheared and altered basalt to the north west at the main Lake Consols workings has had some previous drilling with one strongly mineralised interval intersected in historical drilling (GP61b which hit 5m @ 35g/t Au).

Between the three zones (named Dibbler, Knurd and Librarian) of historic workings, which occur in areas of outcropping basement, there has been no exploration at all, giving Southern Gold a target over 700m of prospective strike along this mineralised trend.

To read the complete article please download the pdf below:

20170629 High Grade Rock Chips at Lake Consols.pdf