Great Southern Mining: Ok so this could be serious – a screaming IP anomaly in copper-gold elephant country
Great Southern Mining Managing Director Matt Keane on 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Great Southern Mining Managing Director Matt Keane talk to Matt Birney on the Bulls N’ Bears Report about why farm-in partner Gold Fields Ltd is spending millions on this ground – a move that looks like it just paid off.
TO LISTEN TO THE GREAT SOUTHERN MINING AUDIO INTERVIEW - CLICK BELOW
Great Southern has swag of ground surrounding Regis Resources multi million-ounce gold mine near Laverton. It also has a lot of ground around the Mt Carlton Gold mine in Queensland where it believes a major copper-gold porphyry system may be lurking at depth – and that belief took a step forward last week when farm-in partner and mega-miner Gold Fields Ltd jagged an exciting conductive anomaly with a geophysical survey at the project – the only question now is – what’s making it conduct electricity down there?
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by mineral explorer Great Southern Mining.
Matt Birney - ASX code: GSN
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Great Southern Mining, Matt Keane.
Matt Birney - Hi Matt.
Matt Keane - Hi how are you?
Matt Birney - I'm good okay so Great Southern has swag of ground surrounding Regis Resources multi million-ounce gold mine near Laverton. It also has a lot of ground around the Mt Carlton Gold mine in Queensland where it believes a major copper-gold porphyry system may be lurking at depth – and that belief took a step forward last week when farm-in partner and mega-miner Gold Fields Ltd jagged an exciting conductive anomaly with a geophysical survey at the project – the only question now is – what’s making it conduct electricity down there?
Matt Birney - Okay Matt we'll get to that shortly but firstly how exactly is Gold Fields Ltd involved in your Edinburgh Park project in Queensland? What's the deal with them?
Matt Keane - So we have an earn in agreement whereby Gold Fields can spend 15 million in 6 years to earn up to 75 per cent of the project, with a minimum spend of 22 million in the first two years.
Matt Birney - Okay so Gold Fields just nailed an IP anomaly at Edinburgh Park, how big is this thing and for the uninitiated, why do you think it could potentially represent a major copper-gold system at depth?
Matt Keane - Yeah it looks to be initially around about 2 and a half kilometres long on early analysis. The significance of this is we think it could be a large porphyry system. Porphyries are one of those styles of deposit which host monster copper-gold molybdenum deposits, that's what we're targeting here. Potentially it could be something like Mt Leyson which sits just 100 km off to the West.
Matt Birney - About 3 million ounces out there I think. Now just tell me are there any other geological indicators at surface to suggest there might be copper-gold at depth?
Matt Keane - Yeah certainly and that's what we like. It's got structures which we pick up in other geophysics we can see those, they line up nicely as does the soil geochemistry and in the soil geochemistry we have got rock chips above that which are going up to 10 half gram per tonne in gold which is a great indicator.
Matt Birney - And that's that surface above this anomaly is it?
Matt Keane - Yeah that's correct.
Matt Birney - Obviously it's always good to see sulphides when you're chasing mineralized systems, is there any evidence of sulphides out there or is it too early to tell at this stage?
Matt Keane - No we do see sulphides so we've got a beautiful outcrop of what they call stockwork and that has sulphides in veining. That outcrops over an area of roughly 4 km by 1 km wide, some of that's reserved, some it's weathered but we definitely know there's sulphides there.
Matt Birney - What are the other examples in that region generally of big porphyries or are they none?
Matt Keane - Yeah look this is a well endowed region so you've got Ravenswood nearby which is 10 million ounces, you got Charters Towers there's a camp there which is 17 million ounces of gold. This is a very well endowed area where you do find these large scale deposits.
Matt Birney - When do you think you'll get a drill bit into this thing? It looks like it's screaming to be drilled.
Matt Keane - Oh as soon as possible, we'd love to start now but likely it'll be after the wet season in the northern Queensland region so sometime in the first half of next year I'd say.
Matt Birney - Matt Keane from Great Southern Mining.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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