Great Southern Copper identifies sulphide copper at San Lorenzo

(Alliance News) - Great Southern Copper PLC on Monday said it was able to confirm sulphide copper ...

Alliance News 12 September, 2022 | 10:29AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Great Southern Copper PLC on Monday said it was able to confirm sulphide copper at its San Lorenzo project in Peru.

Shares were down 18% at 3.50 pence each on Monday morning in London.

The project is located on the island of San Lorenzo in Callao, Peru.

The London-based copper company completed the first five holes of the diamond drilling programme. The holes were completed at the Chinchillon and Central prospects for a total of 1,668 metres. GSC was able to confirm the occurrence of sulphide copper hosted in sheeted vein systems.

Further, the drilling confirmed that the alteration system which hosts the copper at San Lorenzo is "very large."

The company submitted the first 167 samples to ALS laboratories in La Serena.

The drilling is now testing for monzonite-hosted sheeted fracture-vein swarm mineralisation.

"This is a significant milestone for GSC and the project and I congratulate the team on their work thus far .... The assay results from these holes will allow us to focus our future exploration efforts toward zones of higher fracture frequency and higher copper grades as well as defining targets for possible IP surveys," Chief Executive Officer Sam Garett said.

"The assay results from this programme will also deliver important information about the gold grades and how this relates to copper which we are unable to assess visually. The next phase of this scout drilling programme has started and is currently testing areas of monzonite-hosted mineralisation. We look forward to updating investors on progress in the coming months," he added.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Great Southern Copper PLC 2.25 GBX 0.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures