Great Southern Copper (GSCU ) has released assay results from four reverse circulation drill holes at the Especularita copper project in Chile.
At Artemisa North, scout RC hole RC009 tested beneath artisanal workings and intersected 106 metres of oxide copper grading 0.33% copper and 42 parts per million molybdenum.
The disseminated and vein-hosted chalcopyrite-bornite-molybdenite mineralisation is hosted in potassic alteration and is strongly indicative of porphyry copper type mineralisation. The mineralisation is open in all directions with the hole terminated in chalcopyrite-mineralised granodiorite.
At Victoria, hole RC011 also intersected broad potassic alteration including multiple narrow mineralised zones with grades up to 0.85% copper and 0.53 grams per tonne gold.
These results confirm significant potential for large-scale porphyry copper-style mineralisation at Especularita and specifically beneath and surrounding the La Colorada lithocap.
Assay results are pending for the remaining 13 RC holes drilled.
"This outstanding result for hole RC009 has greatly exceeded our expectations for the reconnaissance drilling programme and sets the scene for a very exciting exploration campaign to follow-up this porphyry copper discovery,” said Sam Garrett, chief executive of Great Southern Copper.
"Hole RC009 targeted artisanal workings located beneath an outer remnant of the La Colorada lithocap. The hole has intersected a broad zone of porphyry copper style mineralisation with anomalous molybdenum that appears to be open in all directions. This result validates the company's aggressive 'drill-early' exploration strategy and confirms our working model that the La Colorada lithocap has the potential to conceal large-scale porphyry copper deposits.”
View from Vox
Great Southern has now produced three significant discoveries at Especularita in the last two years, including high-grade copper-silver at Mostaza, and Maricunga-type porphyry gold at Viuda. The mineralisation in all three cases starts at surface and is located near to the coast with excellent access to mining infrastructure and services. The company’s portfolio is beginning to show real strength in depth.