ASX-listed gold explorer, Great Southern Mining, has received $109,000 as part of a total $136,000 grant under the WA Government’s 2020 Exploration Incentive Scheme, or “EIS”. The money was approved for the company’s drilling work at its Cox’s Find gold project about 80 kilometres north of Laverton in WA this year.
The Perth-based company expects the balance of the EIS payment in early calendar 2021.
The (EIS) grants are a meaningful contribution that encourages exploration companies such as Great Southern to think big and go after substantial discoveries. Significant benefits flow to the broader mining and services industry, and WA economy, from the ongoing operation of the EIS.
According to Great Southern, the co-funded RC and diamond drilling campaign advanced its understanding of the structural controls on mineralisation at Cox’s Find.
The program returned the bonanza-grade diamond drill intersection of 5.65m going 80 grams per tonne gold from 160.05m including 1.1m at a spectacular 404 g/t or 13 ounces to the tonne from 164.6m.
Other notable drill intercepts from Cox’s Find this year were 16m grading 3.7 g/t from 138m including 9m at 5 g/t from 142m, 2m at 14 g/t from 146m, 3.6m at 8.03 g/t from 168m and 5m at 5.51 g/t from 59m.
The EIS grant will provide a handy supplement to Great Southern’s successful recently closed $3 million capital raise as it gears up for a resumption of drilling activities at both Cox’s Find and its Mon Ami gold project, 12km south-east of Laverton, this month.
Better high-grade assays from RC drilling undertaken at Mon Ami this year were 11m at 7.9 g/t gold from 26m including 4m at 15.9 g/t, and 4m at 12.4 g/t from 80m.
Mon Ami hosts an inferred resource of 1.1 million tonnes at 1.7 grams per tonne for 59,000 ounces of contained gold.
The Mon Ami project area sits within the Laverton greenstone belt in a world-class gold province that boasts an endowment of multimillion-ounce orebodies including AngloGold Ashanti’s long-life Sunrise Dam operation – that has produced more than 8.5 million ounces of gold – and Gold Fields’ Granny Smith and Wallaby mines.
Great Southern has also been given the nod for up to $150,000 of direct drilling expenditure matched dollar for dollar with the company as part of next year’s Exploration Incentive Scheme.
Is your ASX listed company doing something interesting? Contact: firstname.lastname@example.org