Great Southern Mining Limited (ASX:GSN) Releases Q4 Activities Report
Operational Achievements
Great Southern Mining Limited (ASX:GSN) reported strong operational results for the quarter ended December 2024. The company’s 15-hole reverse circulation drilling campaign at the Duketon Gold Project yielded significant gold assays, including 4 meters at 5.64 g/t Au and 2 meters at 7.01 g/t Au. These results have extended the higher-grade mineralised zone at Golden Boulder by 85 meters, reaching a total strike length of 370 meters.
Exploration Developments
At the Boundary Prospect, three out of the first four drilled holes intercepted gold grades exceeding one gram per tonne. Additionally, at the Edinburgh Park Project in Queensland, joint venture partner G Ex Australia Pty Ltd identified a large induced polarisation anomaly indicative of a potential porphyry system. The company has finalised an Early Works Agreement with the Juru People, enabling exploration activities scheduled to begin in June Quarter 2025. Soil geochemical surveys at the Mon Ami Gold Project and near Golden Boulder and Amy Clarke have uncovered new gold anomalies, providing promising drill targets.
Financial Performance
In November 2024, GSN completed a A$2.4 million share placement with directors, with an additional A$152,000 subject to shareholder approval in March 2025. As of December 31, 2024, the company held A$2.55 million in cash and owned 1.7 million shares of Revolver Resources Holdings Limited (ASX:RRR), valued at approximately A$52,000.
Future Outlook
Drilling has resumed at the Duketon Gold Project, focusing on extending and infilling at the Golden Boulder prospect. Plans are underway to commence drilling at Edinburgh Park in June Quarter 2025, following the completion of baseline environmental and heritage surveys. GSN remains committed to expanding its gold resources across its projects in Western Australia and Queensland.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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