Announcement

New Tenements Granted in south-western South Korea

19 July 2018

New tenements granted over large gold and silver mineralised epithermal vein system in south-western South Korea

Highlights

  • Two new tenements granted 100% to Southern Gold at the recently identified large Beopseongpo Au-Ag epithermal target in south western South Korea.
  • Recent rock chip sampling of vein outcrop and float material, returning grades up to 21.8 g/t Au and 19 g/t Ag (float); 3.0g/t and 1 g/t Ag (outcrop).
  • The vein system has been traced for 3.8 km along strike and is of a high-level low-sulphidation style.
  • No known previous drilling into the vein system.
  • Tenure granted over Beopseongpo Project

    Southern Gold Limited is pleased to announce the Company has been granted formal tenure over the large-scale Beopseongpo gold-silver epithermal vein system in the central-southwest of South Korea.

    Detailed ground assessment work late in 2017 identified Beopseongpo as one of several very prospective epithermal gold-silver targets with no known drilling to date. The new tenements, Beopseongpo 29 and 30, are a significant addition to the Southern Gold portfolio with a 4km traceable strike length, 1m plus vein widths within a 30m wide alteration zone and the preservation of mineralised vein intervals suggesting that it is an extensive low-sulphidation epithermal Au-Ag system.

    Beopseongpo is one of multiple epithermal discoveries recently achieved through regional project generation exercises being conducted throughout South Korea.

    Southern Gold Managing Director, Mr Simon Mitchell: “Beopseongpo is another example of Southern Gold’s ability to explore for exciting new projects in South Korea that have both size and high-grade potential. I am very excited by the granting of tenure at Beopseongpo as this is a first class Au-Ag target and allows for more thorough surface mapping and sampling along strike and to conduct scout diamond drilling. The target here is probably about 150m below surface so would have been missed by the historic miners.

    “Beopseongpo has the potential to be a very large system. The work by a world expert consultant in epithermal systems indicates that this discovery on surface is relatively high in the epithermal system model and could represent an opportunity for a bonanza-grade system at depth given the textures that are analogous to the top zones of the Gladstone-Favona vein system.”

    To read the complete announcement please download the pdf below:

    New Tenements granted in south-western South Korea