Ann: High-Grade at depth at Mon Ami, page-8

Great Southern Mining sees plenty of blue sky as its intersects high-grade gold at depth at Mon Ami

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Great Southern Mining highlights underground potential at Mon Ami through high-grade gold results

The high-grade down-plunge extension to the Mon Ami deposit has highlighted the potential for further deposit extensions at a grade potentially suitable for future underground mining.

Great Southern Mining Ltd - Great Southern Mining RC drilling confirms Mon Ami high-grade gold continues at depth

The company will complete a mineral resource classification upgrade for Mon Ami in the second quarter of 2021.

Great Southern Mining Ltd (ASX:GSN) has intersected high-grade gold at depth during reverse circulation (RC) drilling at Mon Ami Gold Project in Western Australia, highlighting the underground potential.

The drilling program was designed to test for possible depth extensions analogous to the 176,000 ounces at 22.8 g/t gold Ida H deposit, 8 kilometres north of Mon Ami, and to define and extend near-surface, high-grade gold mineralisation to the south, for incorporation into a targeted resource classification upgrade.

A total of 14 RC holes were drilled for 1,601 metres with a standout deep intersection of 10 metres at 2.7 g/t gold from 241 metres including 5 metres at 5.2 g/t and a standout shallow intersection of 4 metres at 6.6 g/t from 8 metres including 2 metres at 11.6 g/t.

Highlights underground potential

The near-surface, high-grade gold mineralisation is expected to enhance open pit development.

Great Southern Mining chief executive officer Sean Gregory said: “We are very pleased with the results from the recent RC drill program at Mon Ami.

“This program was designed to resolve two key questions – whether there is scope to improve the economics and confidence of the mineralisation inside the proposed mining envelope and whether there is underground mining potential.

“Both questions have been resoundingly answered in the affirmative.”

Depth extensions

Two deeper RC holes were designed to test for depth extensions of the main lode at Mon Ami, with both holes intersecting gold mineralisation within a broad zone of chlorite-sericite alteration.

The high-grade gold mineralisation intersected in one hole was 210 metres below the surface, 60 metres deeper than the current inferred mineral resource of 1.1 million tonnes at 1.7 g/t for 59,000 ounces of gold, which is limited to 150 metres below surface.

The high-grade gold mineralisation at Mon Ami is now known to extend for at least 500 metres and is open along strike and at depth and the company is confident this demonstrates the potential for mineralisation to persist further down plunge along strike.

Near-surface extension

Twelve shallower holes were drilled into the southern portion of the deposit seeking to define and extend near-surface gold mineralisation, with best intersections including;

10 metres at 1.0 g/t from 18 metres and 8 metres at 1.1 from 47 metres;

10 metres at 1.4 g/t from 51 metres;

5 metres at 1.8 g/t from 55 metres;

4 metres at 1.4 g/t from 12 metres;

4 metres at 0.8 g/t from 33 metres;

4 metres at 2.5 g/t from 120 metres; and

4 metres at 6.6 g/t from 8 metres, including 2 metres at 11.6 g/t.

These results have aided in the domaining of mineralisation and a main lode of coherent mineralisation is now well defined.

Mineral resource update

The drill results reported on August 12, 2020, also included several near-surface high-grade intersections and included 11 metres at 7.9 g/t from 26 metres including 4 metres at 15.9 g/t and 4 metres at 12.4 g/t from 80 metres (4-metre composite sample).

These results, in conjunction with the recent shallow gold intersections, will be incorporated in an updated resource model for Mon Ami targeting an increase in JORC categorisation levels to support the mine development objectives at Mon Ami

Project development on track

The company is on track for targeted resource classification upgrade in quarter two of 2021 and mining approvals in the second half of the year.

Gregory said: “The recent results define a coherent main lode of mineralisation that is expected to enhance our upcoming resource categorisation upgrade and mining plans.

“The deeper high-grade drill intersections demonstrate the underground potential, which now justifies high-priority follow up drilling to delineate further.

“We continue to progress Mon Ami down the development pathway.

“This involves current resource and mining studies coupled with permitting processes targeted at obtaining mining approvals during H2 2021.”

Further assessment of the recent results is being undertaken for planning and design of a follow-up drill program