TIDMGSCU
RNS Number : 4471H
Great Southern Copper PLC
06 April 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
(WITHDRAWAL) ACT 2018, AS AMENDED, ("MAR") AND IS DISCLOSED IN
ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.
ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS CONSIDERED
TO BE IN THE PUBLIC DOMAIN.
6 April 2022
Great Southern Copper plc
("GSC" or the "Company")
2022 Exploration Campaign Commences at Especularita Project,
Chile
Great Southern Copper plc (LSE: GSCU), the company focused on
copper-gold exploration in Chile, is pleased to announce that it
has commenced systematic on-ground exploration at its Especularita
copper-gold ("Cu-Au") project located in the coastal metallogenic
belt of northern Chile.
The Especularita project comprises 19,076 hectares of
exploration and mining concessions, both granted and in the process
of being granted, and the Company holds option rights to acquire a
100% interest in the project.
The Company's exploration programmes at Especularita, targeting
porphyry-epithermal style Cu-Au mineralisation, will comprise
regional to prospect-scale mapping, sampling (rock, soil, stream)
and geophysics work, designed to identify prospects for targeted
drilling campaigns.
Previous reconnaissance exploration by GSC has identified
porphyry to epithermal style Cu-Au mineralisation associated with
an extensive advanced argillic litho-cap, centrally located at the
intersection of major structures and the contact of a large
granodiorite intrusion with overlying volcanic rocks. Such
litho-cap alteration is characteristic of the tops of porphyry
copper systems, including for example Teck's 50,000 t/y Carmen de
Andacollo copper mine, located along trend from Especularita.
Small-scale artisanal workings and mines, targeting high-grade
Cu-Au mineralised structures, are prominent around the base of the
litho-cap alteration zone. Historical processing plants and
tailings dumps provide further evidence in the district of a once
active mining culture, which has not benefited from significant
modern-style exploration.
San Lorenzo
At the Company's San Lorenzo project, exploration continues on
the Phase III trenching programme in conjunction with detailed
mapping and sampling of monzonite intrusions. This work is
progressing toward defining potential targets for drilling proposed
to start in May-June of this year, subject to rig availability and
permitting approvals.
Sam Garrett, Chief Executive Officer of Great Southern Copper,
said: "We are pleased to begin our exploration campaign at the
Especularita project, where previous geological mapping and
sampling work has identified multiple large-scale targets and
supports evidence of a complete porphyry-epithermal system
prospective for copper-gold."
Charles Bond, Chairman of Great Southern Copper, said: "The
Board recently visited Especularita and San Lorenzo and is
impressed by the quality of the projects and the opportunity they
provide to the Company. It is exciting to be actively exploring our
two large scale exploration projects in Chile, the largest copper
producing country in the world, and we look forward to updating our
shareholders as we progress both projects toward drilling
stage."
In addition to this release, a PDF version with supplementary
information and images can be found on the Company's website:
https://gscplc.com
Enquiries:
Great Southern Copper plc
Sam Garrett, Chief Executive Officer +44 20 7618 9100
--------------------
SI Capital Limited
--------------------
Nick Emerson +44 (0)14 8341 3500
--------------------
Luther Pendragon
--------------------
Harry Chathli, Alexis Gore, Tan Siddique +44 20 7618 9100
--------------------
Notes for Editors:
About Great Southern Copper
Great Southern Copper is a mineral exploration company focused
on copper-gold deposits in Chile. The Company has the option to
acquire rights to 100% of two projects that are prospective for
large porphyry style copper-gold deposits in the underexplored
coastal belt of Chile, a globally significant mining jurisdiction
and the world's largest copper producer.
The two projects comprise the San Lorenzo Project, northeast of
the coastal town of La Serena in northern Chile, and the
Especularita Project located approximately 170km to the south of
the San Lorenzo project. The two early-stage Cu-Au projects are
within the same metallogenic belt as major coastal producing
operations including Teck's Andacollo copper and gold mine.
Significant historical small-scale and artisanal workings for both
copper and gold are readily evident in both exploration project
areas.
Great Southern Copper is strategically positioned to support the
global market for copper, a key metal in the clean energy
transition around the world. The Company is planning an exploration
and evaluation two-year work programme for the copper-gold
projects, targeting principally large tonnage, low to medium grade
porphyry style Cu-Au deposits.
Further information on the Company is available on the Company's
website: https://gscplc.com
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