Great Southern onto something or some things big in WA | Matt Keane (ASX: GSN)
The Hole Truth: Mining Investment PodcastShow Notes
Great Southern Mining (ASX: GSN) is drilling three gold projects in WA. All have no mineralization and sit on the doorsteps of majors with big hungry plants. They're also waiting excitedly for essays from a big project in Queensland, where joint venture partner Goldfields has drilled its first holes. Guest bio Matt Keane is Managing Director of Great Southern Mining Limited (ASX: GSN), a Perth-based gold explorer with a portfolio in the Laverton region of Western Australia and a joint venture with Gold Fields in Queensland. The company's Duketon Gold Project covers 549 square kilometres of the Duketon greenstone belt north of Laverton and includes the Golden Boulder and Amy Clarke prospects. It also holds the Mon Ami Gold Project, 12 kilometres south-east of Laverton, and the East Laverton Nickel-Gold Project. In Queensland, Gold Fields is earning a 75 per cent interest in the Edinburgh Park Project near the Mt Carlton mine by funding up to A$15 million of exploration. Keane has around 20 years of experience across mining, exploration and financial markets. His technical background includes exploration and mine geology, mine scheduling and design, resource and reserve estimation and production management, and he has worked on mergers and acquisitions at BHP, Paladin Energy and Lynas Rare Earths. He spent eight years as a metals and mining analyst at Argonaut Securities before becoming Chief Executive Officer of S2 Resources, which held exploration assets in Australia and Finland. He was appointed Managing Director of Great Southern Mining in September 2022. Produced by Resource Media The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. Resources LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/ Instagram: https://www.instagram.com/theholetruthpodcast/ Company website: https://www.greatsouthernmining.com.au/ Key Insights
A former analyst is running the three-part playbook he used to preach.
Keane spent years on the other side of the desk telling companies where they were going right and wrong, and he is applying that to Great Southern. Raise money, drill holes and tell the market about it are all happening at once. Around 15,000 metres have been drilled since June, the biggest campaign since the company's inception, and the results have been high grade across all three targets with mineralisation being extended. The company is still funded for the program, the rig is expected to keep turning into the Christmas period, and drilling will restart hard in the new year. In his view, the best returns in the sector come from the discovery curve.
Golden Boulder has a 3.5 kilometre trend that has barely been drilled to depth.
The prospect has gold along 3.5 kilometres of strike, yet most holes reach only about 100 metres and the deepest sit around 150 metres. The northern 1.1 kilometres has the densest drilling and consistent high-grade hits, and a little diamond drilling has given the team a clear view of the controls, with stacked mineralisation inside a shear. Phase two is about to start, with pads being cleared for work both along strike in the south and deeper down. Deep, for Great Southern, means the next 200 to 300 metres, which an aircore rig with a booster can reach at a much lower cost than diamond drilling.
The prospects sit on structures that Regis has followed to 700 to 800 metres.
Golden Boulder sits on the Rosemont Shear Zone, one of the more prolific gold-bearing structures in the Duketon belt, and Regis Resources has followed deposits on it down to between 700 and 800 metres below surface. The pattern of regular repeats down the structure to Great Southern's own groun
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