South Korean Portfolio Continues to Build with Addition of Historic Aphae Gold Mine
New tenure granted 100% to Southern Gold at the historic Aphae Gold Mine, south western South Korea
Mullock samples up to 6.8g/t Au returned from Southern Gold sampling adjacent to historical open cut gold-silver mine
Geologically mapped hydrothermally altered quartz veining and brecciation within a 100m wide mineralised corridor, open along strike and at depth
Historic mine production of 115kg gold with alluvial field adjacent to the open cut and historic KORES diamond drill hole confirming mineralisation continues at significant depth
“Walk-up” drill target to be tested in the next few months
Tenure granted over historic Aphae Gold Mine
Australian gold producer, Southern Gold Limited (ASX: SAU) is pleased to announce the Company has been granted formal tenure over a small gold-silver mine called Aphae in the southwest of South Korea (Figure 1). Detailed ground assessment work in 2017 identified Aphae as one of several very prospective epithermal gold-silver targets where there was the potential for a mineralised system much greater in size than what was historically recognized.
Sampling by Southern Gold of mullock adjacent to the historic mine at Aphae returned several samples over 1g/t Au and up to 6.08g/t gold and 93g/t silver (Table 1 and Photos 1 and 2). A mineralised corridor has been defined and constitutes an early drill target.
The Project Generation exercise, mentioned in previous ASX releases and in which this Aphae project is one example, is ongoing with several other high-quality targets under application. The Southern Gold technical team is confident of identifying several highly prospective, easy to advance, drill-ready projects throughout a district of known gold-silver production, that collectively constitute a significant epithermal gold-silver exploration play with the potential for economic discovery.
Southern Gold Managing Director, Mr Simon Mitchell: “Like our Hampyeong ASX release last month, the grant of the Aphae project outlined in this release continues to demonstrate our capability of securing tenure in South Korea and reinforces the message that we are progressively building an exciting epithermal gold play. Also, like Hampyeong, this is another “walk up” drill target, however the difference here is some historic drilling that confirms mineralisation at depth.
As I have stated before, Hampyeong and now Aphae are just the beginning of a major exploration effort in a uniquely prospective geological terrane with drilling to commence at Hampyeong in the next few weeks.”
To read the full announcement please down load the pdf below: