Great Southern Mining Advances Multi-Project Drilling with $4.6M Capital Raise
Great Southern Mining (ASX:GSN) is pushing forward with aggressive drilling campaigns across its Western Australian and Queensland gold projects, supported by a recent $4.6 million equity placement. Early results hint at promising extensions of known mineralisation, setting the stage for further resource growth.
- 20,000m reverse circulation drilling underway in WA
- Diamond drilling extends Golden Boulder mineralisation down dip
- Upcoming maiden RC drilling at Amy Clarke and Mt Dillon
- $4.6 million equity placement completed with director participation
- Cash position steady at A$4.75 million at June quarter-end
Aggressive Drilling Campaign Targets Multiple Gold Projects
Great Southern Mining (ASX:GSN) has launched a major reverse circulation (RC) drilling program spanning up to 20,000 metres across its Western Australian gold assets, with initial results expected soon. The first phase saw 16 holes completed at the Mon Ami Gold Project near Laverton, aiming to extend the existing JORC Mineral Resource of 55,500 ounces at 1.11 g/t Au. This project benefits from proximity to established processing facilities, enhancing its potential for monetisation.
Following Mon Ami, drilling is set to commence imminently at the Golden Boulder discovery within the Duketon Gold Project, where previous campaigns have delineated gold mineralisation over a 3.5-kilometre strike. Golden Boulder sits on a prolific structural trend hosting multiple significant gold deposits, including Regis Resources’ Rosemont mine.
Diamond Drilling Reveals Depth Extensions at Golden Boulder
April’s maiden diamond drilling at Golden Boulder extended mineralisation approximately 40 metres down dip on the Main Line trend, with notable intercepts such as 2.25 metres at 2.04 g/t Au including a higher-grade 0.72-metre section at 4.07 g/t Au. Structural data from these holes indicate steeper dipping lodes than previously thought, which bodes well for deeper mineralisation potential between major fault zones.
A second diamond hole, co-funded by the Western Australian Government's Exploration Incentive Scheme, provided valuable geological insights despite lacking significant gold intercepts. These findings will inform targeting strategies for upcoming drilling phases.
New Drilling Phases at Amy Clarke and Queensland’s Mt Dillon
After Golden Boulder, Great Southern plans a maiden RC drilling program at Amy Clarke, testing extensions along a 4.7-kilometre strike where shallow aircore drilling has already identified promising gold zones. Amy Clarke’s location near Regis Resources’ Garden Well processing facility adds strategic value.
In Queensland, the Edinburgh Park Project, under a joint venture with Gold Fields Ltd, will see maiden diamond drilling at the Mt Dillon target. This site features a significant induced polarization anomaly beneath a preserved lithocap, characteristic of large intrusive-related gold systems globally. Gold Fields can earn a 75% interest through sole funding up to A$15 million in exploration.
Financial Position Supports Exploration Momentum
Great Southern Mining strengthened its balance sheet with a $4.6 million equity placement completed by May 2026, including a $0.4 million contribution from directors and management. At the end of the June quarter, the company held A$4.75 million in cash and a modest holding in Revolver Resources shares valued at around A$29,000.
Exploration expenditure remains the primary cash outflow, with nearly A$1 million spent during the quarter on drilling and evaluation activities. The company estimates it has close to four quarters of funding available at current spending levels, providing runway for ongoing programs.
While assay results from recent drilling at Mon Ami and other targets are pending, the combination of structural insights, mineralisation extensions, and a strong cash position sets a solid foundation for Great Southern’s next phase of resource growth and project development.
Bottom Line?
Great Southern Mining’s well-funded drilling push across multiple gold projects is poised to deliver critical data that could underpin future resource upgrades and strategic options.
Questions in the middle?
- Will assay results from Mon Ami and Golden Boulder confirm significant resource extensions?
- How will structural reinterpretations at Golden Boulder influence targeting and resource modelling?
- What exploration outcomes are expected from the Mt Dillon drilling under the Gold Fields joint venture?
