GSN Reports 5m at 14.57 g/t Au at Golden Boulder, Secures A$4M Upfront from Licence Sale

Strong Gold Assay Results at Duketon

Great Southern Mining Limited (ASX – GSN) has delivered encouraging assay results from its recent reverse circulation drilling program at the Golden Boulder prospect within its 100% owned Duketon Gold Project in Western Australia. The program, comprising 3,678 metres across 38 holes, revealed multiple high-grade gold intercepts, including standout hits such as 5 metres at 14.57 grams per tonne gold from 41 metres depth, featuring a remarkable 1 metre at 70.94 grams per tonne.

These results confirm the presence of significant shallow gold mineralisation along a structural trend that hosts several multi-million-ounce deposits nearby. Gold anomalism extends over a strike length exceeding 1.5 kilometres, with an additional two kilometres of prospective strike now cleared for drilling following heritage approvals.

Strategic Licence Sale to Regis Resources

In a notable corporate development, Great Southern Mining sold Mining Licence M38/1299, which hosts the Southern Star gold prospect, to Regis Resources Limited (ASX – RRL). The transaction includes an upfront cash payment of A$4 million and potential contingent payments up to A$5 million, linked to gold price thresholds and future resource declarations. Southern Star is strategically located just 3.5 kilometres from Regis’ Ben Hur mine, enhancing the appeal of this asset.

Importantly, GSN retains 98% of its Duketon tenure and has established a strategic data sharing alliance with Regis to accelerate exploration success across the Duketon Greenstone Belt. This collaboration leverages Regis’ extensive processing infrastructure and proven track record in the region.

Queensland Drilling Program Underway

Post quarter-end, Great Southern Mining commenced diamond drilling at its Edinburgh Park Project in Queensland, where joint venture partner Gold Fields Ltd can earn a 75% interest by funding up to A$15 million in exploration. Drilling targets large-scale intrusive-related gold and copper systems, with initial holes focusing on the Leichhardt Creek area, identified by recent geophysical surveys as hosting promising chargeability anomalies indicative of sulphide mineralisation.

Following Leichhardt Creek, drilling will progress to the Mt Dillon prospect, where geophysical data suggest a preserved intrusive system beneath a silicified lithocap, a setting analogous to several world-class copper-gold deposits globally.

Ongoing Exploration and Corporate Position

Great Southern Mining continues to advance other projects, including the Mon Ami Gold Project and the East Laverton Nickel-Gold Project in Western Australia, with heritage surveys and field mapping supporting future drilling plans. The company ended the quarter with A$1.14 million in cash, bolstered by the receipt of the upfront payment from the Southern Star licence sale. No new shares were issued during the period, while performance rights were granted to employees under the company’s long-term incentive plan.