Great Southern Copper plc (LSE: GSCU), the UK-listed copper-gold-silver exploration company focused on Chile, has announced the start of Phase I diamond drilling at its Artemisa prospect within the Especularita project. The programme follows a scout reverse circulation drilling campaign that intersected 106 metres at 0.33% copper and 42 parts per million molybdenum from surface at hole ART26-RC009. The company also released results from its broader scout RC programme across four target areas on the margins of the La Colorada lithocap, which the announcement states has vectored future exploration toward potentially larger porphyry copper systems beneath the lithocap. First drilling beneath the La Colorada lithocap itself is planned within the next three to six months.

Key Points

  • Great Southern Copper plc (LSE: GSCU) — UK-listed copper-gold-silver explorer operating in Chile
  • Phase I diamond drilling has commenced at the Artemisa Cu-Mo prospect within the Especularita project
  • Scout RC hole ART26-RC009 previously intersected 106m at 0.33% Cu and 42ppm Mo from surface, including 54m at 0.54% Cu and 66ppm Mo
  • Investors may watch for diamond drill results at Artemisa and the planned first-pass lithocap drilling programme, expected within three to six months

Phase I Diamond Drilling Targets Cu-Mo Mineralisation Discovered at Artemisa RC009

The Phase I programme consists of two scout diamond holes totalling 500 metres, designed to provide geological control to the results of RC hole ART26-RC009. The first diamond hole, ART26-DH018, is drilling behind RC009 at a steeper angle to establish the lithologies, alteration, mineralisation, and their spatial and temporal relationships — information the announcement states is not available from reverse circulation drilling alone. A second hole is planned to test vein alteration and mineralisation in an orthogonal direction to the veining and fracturing intersected in holes RC009 and DH018. Subject to these results, a follow-up RC campaign of 2,000 metres is planned.

Scout RC Programme Across Four Targets Vectors Exploration Toward La Colorada Lithocap

The completed 17-hole, 2,474-metre scout RC programme tested four target areas — Piedras Blancas, Artemisa North, Victoria, and Artemisa South — on the western and southwestern flanks of the La Colorada advanced argillic lithocap. The announcement states that porphyry copper-style potassic alteration intersected at Piedras Blancas provides a strong eastward exploration vector toward the lithocap, while gold-base metal veins at Victoria and Artemisa South provide a northward vector. GSC holds rights to acquire 100% of the Especularita project, which is situated at low elevation with access to established infrastructure along trend with major copper deposits including Los Pelambres, Altar, and El Pachon.

La Colorada Lithocap Covers More Than 75 Square Kilometres in Chile's Coastal Metallogenic Belt

The Especularita project is centred on the La Colorada lithocap, a high-sulphidation advanced argillic alteration system covering more than 75 square kilometres. The announcement states the project sits within the Cretaceous-age coastal metallogenic belt of northern Chile and within a 50-kilometre radius of over 50 million tonnes of contained copper metal defined in mines and advanced projects. GSC's working hypothesis, supported by the Artemisa discovery, is that the lithocap alteration developed above a porphyry copper mineral system, with erosion potentially exposing the upper zones of such systems at surface.

Detailed Lithocap Mapping Underway to Guide First Drilling Programme Planned in Three to Six Months

The announcement states that detailed geological mapping and data compilation of the southwestern quadrant of the La Colorada lithocap is now underway. Combined with gridded soil geochemistry and ASD mineral spectroscopy analysis, the work is intended to produce alteration temperature and pH maps to identify drill targets above concealed porphyry copper systems. CEO Sam Garrett's statement in the announcement describes the overall scout RC survey results as "highly successful" in providing exploration vector information for the southwestern lithocap area. The company describes first-pass drilling beneath the lithocap as planned for within the next three to six months, subject to completion of the mapping and compilation work.