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Southern Gold has released quarterly activities report to 31 March 2020

Southern Gold project Locations in South Korea including JV Projects (BMV)

Southern Gold Limited (“Southern Gold”, the “Company”), has released its Quarterly Activities Report and Appendix 5B for the quarter ending 31 March 2020, and is pleased to present highlights for the (“Quarter”, “Reporting Period”)

Highlights: 

BPDD0013 Footwall vein intercept assays pending
Photo 1:BPDD0013 Footwall vein intercept assays pending
  • Significant levels of field activity in South Korea with the continuation of diamond drilling programs and project generation reconnaissance rock sampling  
  • A$4 million capital raise in 2 tranches: with $2.17 million completed and the second tranche of $1.83 million subject to shareholder approval in early May  
  • Southern Gold now has significant funding to complete drilling on multiple targets and exploit its ‘first mover advantage’ in South Korea  
  • The South Korean based team has demonstrated it can manage drilling programs during the COVID19 pandemic with South Korea emerging as a leader in effective crisis management  
  • 758.42m of Diamond drilling completed at the Beopseongpo Project at the ‘Golden Palm’, ‘Hand of Faith’ and ‘Spider’ prospects  
  • Scout drilling at ‘Golden Palm’ returned a peak intersection of 0.76m @ 2.41g/t Au from 63.82m in hole BPDD010, with deeper drill target defined  
  • Very encouraging low-sulphidation epithermal multi-phase veining intersected at ‘Hand of Faith’ in deeper drilling with assays pending (Photo 1)  
  • Regulatory approvals well advanced to drill at depth at the Weolyu Project  
  • Drill programs finalised to test beneath the Shin Hill historical underground mine at the Deokon Project as well as the Aphae Project in June quarter  
  • Additional rock sampling at the Dokcheon Project, returning samples up to 1.5g/t gold in highlevel textures, warranting a scout drill program
  • At Geum-Mar discovery area reconnaissance outcrop and float assays included a peak of 3.05g/t gold from a group of nine highly anomalous samples
  • At Daeam Valley discovery area thirteen samples returning values >1g/t gold (peak 3.49g/t Au) over a strike-length of 1km, open in both directions
  • Well regarded economic geologist, Douglas Kirwin, also joined the board during the quarter as part of the equity raising process
  • AIM listed investment specialist, Metal Tiger PLC, strongly supported the equity raising and their nominee, Terry Grammer, will join the board on approval of the second tranche
Beopseongpo Project showing the locations of the Golden Palm, Hand of Faith and Spider Prospects where drilling has recently been completed (black stars)
Beopseongpo Project showing the locations of the Golden Palm, Hand of Faith and Spider Prospects where drilling has recently been completed (black stars)

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