GSN Drills 2.3km Gold Anomaly at Duketon, Secures $2.4 Million Placement

Duketon Gold Project Advances with High-Grade Extensions

Great Southern Mining Limited (ASX: GSN) has delivered a robust quarterly update for the period ending 31 December 2024, highlighting significant progress at its flagship Duketon Gold Project in Western Australia. The company reported assay results from a targeted 15-hole reverse circulation drilling campaign, which successfully extended the higher-grade mineralised zone at the Golden Boulder prospect by 85 metres to a total strike length of 370 metres. Notably, gold anomalism now spans over 2.3 kilometres, with a further 1.4 kilometres of prospective strike remaining untested to the south.

Key drill intercepts included 4 metres at 5.64 g/t Au from 63 metres, including 2 metres at 9.89 g/t Au, and 2 metres at 7.01 g/t Au from 18 metres, including 1 metre at 12.45 g/t Au. These shallow, high-grade results reinforce the prospectivity of the Golden Boulder area, which sits on a major north-south structural trend hosting multiple gold deposits.

Encouraging Early Results at Boundary Prospect

Exploration at the Boundary Prospect, also within the Duketon Project, yielded promising early success. Three of the four holes drilled intercepted gold grades exceeding one gram per tonne, with highlights including 2 metres at 1.33 g/t Au and 1 metre at 2.24 g/t Au. The discovery of broad anomalous zones associated with quartz veining and sheared ultramafic rocks suggests the area holds considerable potential for further resource definition.

New Anomalies and Soil Geochemistry Boost Targets

Soil geochemical surveys conducted at both the Mon Ami Gold Project and within the Duketon tenure have identified new gold anomalies. At Mon Ami, northwest trending anomalies up to 100 ppb Au present exciting drill targets to expand the existing JORC resource of 1.56 million tonnes at 1.11 g/t Au. Similarly, at Duketon, new anomalies proximal to the Amy Clarke and Golden Boulder prospects have been delineated, reinforcing the district-scale potential of GSN’s landholdings.

Edinburgh Park Project: Large-Scale Porphyry Target Emerges

In Queensland, GSN’s Edinburgh Park Project, under a joint venture with Gold Fields Ltd, has revealed a significant induced polarisation (IP) anomaly interpreted as a porphyry system. This anomaly, over 2 kilometres wide, is associated with gold, silver, copper, and molybdenum geochemical anomalies and extensive quartz-pyrite stockwork veining. An Early Works Agreement with the Juru People has been finalised, facilitating planned drilling in the June quarter of 2025. This project represents a province-scale opportunity for large-scale intrusive-related gold-copper mineralisation.

Financial Position and Capital Raising

Great Southern Mining strengthened its financial position during the quarter by completing a $2.4 million share placement at $0.017 per share, with directors seeking to participate further subject to shareholder approval. The company ended the quarter with $2.55 million in cash, supporting ongoing and planned exploration activities. Operational cash outflows were consistent with exploration expenditure, reflecting the company’s focus on advancing its projects.

Looking ahead, drilling has recommenced at Duketon, initially focusing on infill and extensional holes at Golden Boulder, with plans to test newly defined targets across the project area. Meanwhile, ongoing geophysical surveys and mapping at Edinburgh Park continue to refine drill targets ahead of the mid-2025 campaign.