Global Geoscience: Drilling Nevada & Peru


Transcription of Finance News Network Interview with Global Geoscience Limited (ASX:GSC) Managing Director, Bernard Rowe

Joining me today at the Resources and Energy Symposium in Broken Hill,  is Global Geoscience Limited (ASX:GSC) Managing Director, Bernard Rowe. Bernard welcome.

Bernard Rowe: Thank you very much.

Could you start by introducing Global Geoscience. When did the Company list and what’s your focus?

Bernard Rowe: Global Geoscience listed on the Australian Stock Exchange in December 2007. Our focus is copper, gold and silver with exploration projects in Peru in South America and Nevada, Arizona in the United States.

Let’s turn to your interests in Nevada. What are your key projects and when did you acquire them?

Bernard Rowe: We’ve got a portfolio of five projects in Nevada. The core projects are Lone Mountain and Excelsior, and we’ve acquired those both in the last 18 months. And we are actively working on those this year.

Looking closer at Lone Mountain, at what stage is the project?

Bernard Rowe: We are just about to start our initial drill program at Lone Mountain; it’ll be starting in early June. So really it’s quite a new project for us and we’ve got very high expectations. We’ve done quite a lot of work there on the ground in the last three months and now we’re moving into the drill stage, so exciting times for Lone Mountain.

And what will be Lone Mountain’s next key milestone?

Bernard Rowe: What we’re looking for at Lone Mountain is a Carlin-style gold deposit. Carlin itself is a large gold producing district located just 50 kilometres to the south of us, so that’s what we’re targeting – large gold deposits. And we hope to, with this next drill program, identify some targets that are going to require resource drill out definition over the longer term.

Bernard you’ve also got the Excelsior gold project. What’s happening there?

Bernard Rowe: At Excelsior we’ve already discovered a shallow oxide gold mineralisation over a two kilometre strike length. We’ve only completed at this stage, wide-spaced drilling, so we don’t have a resource there at this stage. But obviously, that’s what we want to move towards. So we will be back there in the next couple of months, drilling around and along strike in the same zone looking for similar mineralisation that we’ve already found, to boost the size potential for a deposit there.

Now you’ve just started drilling at your wholly owned Sara Sara copper/silver project in Peru. What are you targeting?

Bernard Rowe: Well Sara Sara is a porphyry copper project, however, when we were drilling there last year we discovered some high grade silver in the upper parts of the copper mineralisation. So we’re only talking about in the top 200 metres, we’ve hit high grade silver. The drill program that we started last week and we’re currently in progress now, is to follow up on that high grade silver. So we’re looking to expand on what we’ve already found in terms of near-surface silver mineralisation. And the copper, we’ll test that at a later date - it’s deeper.

And what are your future plans for Sara Sara?

Bernard Rowe: Well with this drilling, we’re obviously following the high grade silver and so we would like to be able to demonstrate with this program, that Sara Sara has the potential to host a silver deposit. And then we would move again, into resource definition drilling in the next stage, so that’s what we’re really hoping for.

You have even more projects in Peru. At what stage is development?

Bernard Rowe: Most of our other Peru projects are at a fairly early stage, I mean we are a greenfields exploration company. They’re at a stage where Sara Sara was probably 18 months ago and so we’re working on them, but you know, it’s a little bit too early to take a drill rig in there yet. But we are confident that one or two of them will come up and we’ll see some drilling done there, in the next year or two as well.

And Bernard, what is the Company’s strategy. Do you plan to continue exploring or to eventually move into production?

Bernard Rowe: Well we are an exploration company and that’s what we plan to stay. That’s where our expertise is and obviously we’re looking for deposits that will, in the future be mined. But we would probably look at bringing in partners and perhaps other people into the Company, to move into a production stage. That’s one of the reasons why we did a deal with Osisko Mining (TOR:CA:OSK) in Nevada. So hopefully if we find something there that’s of sufficient size, it’ll be Osisko who puts it into production rather than us, and we’ll continue to explore.

Finally Bernard. Where would you like to see Global Geoscience by year’s end?

Bernard Rowe: Well with the very active drill programs that we have planned for this year, where we would like to be by year end, is demonstrate that Sara Sara has the potential to host a high grade silver deposit, and start resource definition drilling on that. In Nevada where we’re drilling three to four projects, we would like to see again, those targets taken to the stage where they require a significant drill program that will lead to a resource definition drill program.

Bernard Rowe, thanks for introducing us to Global Geoscience.

Bernard Rowe: Thank you very much Lelde, it was a pleasure to talk to you.