Southern Gold moved to a 51% interest in its flagship Challenger Area gold exploration project in South Australia after spending the required A$2 million to earn the majority holding with its joint venture partner, Dominion Mining Limited, owner of the nearby producing Challenger gold mine.
Southern Gold Limited has identified new gold-in-calcrete anomalies within 15 kilometres of the producing Challenger gold mine in the far west of South Australia. One of the anomalies is at least a kilometre in length and up to 400 metres wide and has been defined at the Nemesis Prospect, 12 kilometres north of the mine but within Southern Gold’s 100% owned tenement, EL 4161. It was identified after Southern Gold returned to the site of a promising 2006 sampling program with a more detailed 400 metre by 400 metre sampling grid that yielded a peak result of 43 parts per billion (ppb) gold within a 10ppb anomaly. The newly identified anomaly is favourably orientated in northeast alignment only 12 kilometres directly north of the Challenger mine.
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