Great Southern Mining is cashed up to continue exploration at Edinburgh Park in North Queensland and its Western Australian gold projects after an oversubscribed share placement raising $3.12 million.
Chief executive officer Sean Gregory said the funding would allow the company to accelerate planned drilling activities in the Laverton region of WA where 2020 drilling programs at Cox’s Find and Mon Ami had delivered some excellent outcomes.
“We are also now well-funded to continue the extensive geochemical program underway at our largescale Edinburgh Park project in northern Queensland,” he said.
“This program has been designed to generate drill-ready targets for planned testing in the June 2021 quarter.
“The greenfield discovery potential of Edinburgh Park is considerable and we look forward to having the opportunity to rapidly progress that.”
In July this year Great Southern Mining announced the discovery of a significant geochemical soil anomaly at the Leichhardt Creek prospect within its Edinburgh Park gold project.
The company mapped a vast geochemical alteration system consistent with an Intrusive Related Gold System (IRGS) exhibiting strong associated metal content.
Chief operating officer Mark Major described the results as a significant step toward potentially discovering a Tier-1 deposit at the project, which is located near the Mount Carlton gold mine.