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LONDON - Great Southern Copper (NYSE:SCCO) plc (LSE:GSCU), a company specializing in copper-gold exploration in Chile, has initiated scout diamond drilling at its Viuda Negra prospect within the Especularita project, targeting Au-Ag-Cu mineralization.
The initial drilling program involves 2 to 4 scout holes, reaching a total depth of up to 500 meters. The company has identified outcropping evidence of epithermal-porphyry type mineralization, with rock chip samples yielding up to 4.2g/t Au, 145g/t Ag, and 0.56% Cu. These findings suggest the presence of gold-rich porphyry deposits, a type not previously recognized in Chile’s coastal belt.
Sam Garrett, CEO of Great Southern Copper in Chile, expressed excitement about the drilling, which follows recent exploration efforts that revealed promising assay grades from rock chips and channel chip samples. The company holds options to own 100% of the Viuda and Viuda Negra prospects, which are strategically located in a metallogenic belt known for its accessibility and infrastructure.
The Viuda Negra prospect was identified through mapping of anomalous soil geochemistry results, revealing characteristic sheeted and stockworked quartz-magnetite veins. Channel chip sampling across these outcrops returned high-grade assays, and nearby epithermal-style ledges with multi-stage quartz veinlet stockworks were also discovered. These findings highlight the potential for significant Au-rich porphyry systems in the area.
The ongoing scout diamond drilling at Viuda Negra aims to test the outcropping ridges with anomalous gold and silver mineralization identified by surface mapping and sampling. The first drill hole, VNE25-DD001, has reached a depth of 70 meters and is examining quartz-magnetite vein alteration, while the second hole, VNE25-DD002, is planned to investigate epithermal style alteration with notable silver grades.
This announcement is based on a press release statement and contains inside information as defined under the UK version of the Market Abuse Regulation.
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