Quarterly Activities Report - 30 June 2018

31 July 2018

Quarterly Activities Report

30 June 2018


Western Australia

 Southern Gold and Northern Star remain in discussions as to how the Cannon Gold Mine fits within Northern Star’s ongoing project schedule under the ‘right-to-mine’ agreement. An update will be provided in the near term.

 Transfind South RC drilling in May returned very high-grade gold intercepts including 1m @ 133.7 g/t Au, 2m @ 24.95 g/t Au, and 1m @ 11.3 g/t Au and identifying the project as a new priority target.

 Cowarna April RC drilling results at the Pryde and Logan targets, returned assay results confirming the presence of gold mineralised zones. Best intersections at the Logan target COWRC003 8m @ 1.05g/t Au, and at the Pryde target COWRC010 2m @ 1.51g/t Au.

 Monument South drilling returned no anomalous gold despite alteration and sulphide being present.

South Korea

 Development Partner, Bluebird Merchant Ventures, collected 500+ channel and grab samples at the Kochang Gold Project. Best samples returned were; 0.24m @ 65.8g/t Gold & 170 g/t Silver and 0.18m @ 69.2 g/t Gold & 80 g/t Silver from the 245 Level.

 BMV has also continued to dewater the flagship Gubong Gold Project expanding this to two sites.

 First pass scout diamond drilling program completed at Hampyeong Gold Project in May/June with 3 holes completed for 276m drilled. Best result was in HPDD003 that returned 0.95m @ 5.33g/t gold & 4.9g/t silver from 32.6m and 0.7m @ 2.47 g/t gold & 5.0 g/t silver from 119m.


 Southern Gold is close to finalizing a review of its corporate strategy, including the continued operations in two jurisdiction given the level of funding requirements for both.

 The Managing Director has been marketing into offshore jurisdictions and seeking investors from alternative funding sources, such as South Korean ‘High Net Worth / Sophisticated’ investors.

 Southern Gold also commenced a process whereby several potential corporate investors were invited to conduct due diligence on the South Korean assets with a view to financing exploration costs going forward.

To read the complete report please download the pfd below:

Quarterly Activities Report_App.5B 30 June 2018