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Great Southern Copper PLC on Monday said its phase three drilling campaign revealed high-grade mineralisation at its Especularita Project’s Cerro Negro prospect. The Chile-focused copper, gold and silver explorer said the high-grade silver-base metal mineralisation was intersected in all holes, with silver grades of up to 105 grams per tonne. It said the results extend the strike of mineralisation up to 1.5 kilometres south of the Mostaza mine. New silver, lead and zinc lenses were discovered at depth, the firm continued, while near-surface silver-lead mineralisation confirmed the leached upper zone of the system. A new copper-silver zone was intersected in hanging wall volcanics, which Great Southern said defines a high-priority near-surface target. The company said that there is a strong correlation between mineralisation and IP chargeability anomalies, which confirms the effectiveness of geophysical targeting. It said significant exploration targets at the Monolith and southern Mostaza extension zones remain untested, and that planning is underway for phase 4 resource and exploration drilling. Great Southern holds the option to own 100% of the Cerro Negro prospect, including the Mostaza mine. ‘These important scout RC drill results have been highly successful in demonstrating that high-grade silver-base metal mineralisation extends at least 1.5 kilometres south of the Mostaza mine,’ commented Chief Executive Officer Sam Garrett. He added that the anomalies ‘[emphasise] the increasing scale potential of the Cerro Negro system.’ ‘Geological investigation and interpretation of the RC chips is on-going, however, the identification of multiple stacked and zoned lenses of silver-base metal continues to strengthen our geological model and reinforces similarities to the high-grade system discovered at Mostaza,’ Garrett added. Shares in Great Southern Copper declined 3.6% at 2.41 pence on Monday in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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