(Alliance News) - Great Southern Copper PLC on Tuesday said testing confirmed the presence of desired minerals at its neighbouring Teresita and Abundante projects.
The Chilean-focused mineral exploration company recently conducted reconnaissance work in search of copper and gold deposits at the location. A total of fifteen holes were drilled covering 1,018 metres and the programme revealed evidence of mineralisation within each hole after samples were tested.
Chief Executive Officer Sam Garret said: "The mineralised vein system at Teresita is very large - comprising multiple veins over 5 kilometres in cumulative strike length - and these exciting early reconnaissance drill results give us strong impetus to aggressively advance our exploration of this system."
Follow-up exploration will include further geochemistry work and focus on vein targets in greater detail as the company prepares for a large scale drilling programme.
Great Southern shares were up 5.7% to 2.28 pence each in London on Tuesday afternoon.
By Elijah Dale, Alliance News reporter
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Great Sth Copp (GSCU)