It is also close to Regis’ neighbouring gold deposits at Rosemont where it is sitting on more than 2 million gold ounces and its Ben Hur deposit with 390,000 ounces of gold.
Adding to the prospectivity of Great Southern’s grounds, the massive Gold Fields-owned Granny Smith gold mine sits just 40km to the south and the Ashanti gold-owned Sunrise Dam gold operations are just a little further south again.
These two operations alone have been responsible for more than 10 million ounces of gold production and potentially provide a strategic opportunity for Great Southern.
Should the company make a discovery, it may be able to initially toll treat its ore at one of the massive mines to generate some early revenue.
Separate to its ambitions to develop a gold mine in Western Australia, Great Southern recently jumped into bed with joint venture partner, Gold Fields Ltd to explore for big porphyry gold-copper systems at its massive Edinburgh Park Project in Queensland.
A recent induced polarisation (IP) survey conducted by the mega miner unearthed a huge, 2km-wide geophysical anomaly, which it believes has the potential to host a large-scale intrusive related gold-copper and/or an epithermal gold deposit.
Geochemical sampling over the interpreted anomaly stretches across 4kms by 1km and has kicked up high concentrations of gold, silver, copper and particularly molybdenum, a typical marker of a porphyry deposit.
Evidence of outcropping rocks rich in sulphides above the anomaly from previous field mapping has only added to the excitement given sulphides can be a strong indicator of nearby mineralisation.
With a drill rig now on site at Duketon and Gold Fields pushing on with helicopter-borne IP, aeromagnetic surveys and on-ground mapping at Edinburgh Park, Great Southern is not likely to be short of potentially interesting news flow in the coming months.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
