Great Northern Minerals Limited (ASX: GNM) has unveiled an initial Camel Creek Mineral Resource Estimate (MRE) of 2.4Mt @ 2.6 g/t Au & 0.4% Sb (202 koz Au & 9,000 tonnes Sb), part of the company’s Golden Ant Project in North Queensland.
CEO and Managing Director, Cameron McLean, said the Camel Creek MRE increases the contained gold in the Golden Ant Project MRE by 111% to 386 koz Au plus 9,000 tonnes Sb.
“We are pleased to announce the initial Camel Creek Mineral Resource Estimate of 2.4Mt @ 2.6 g/t Au & 0.4% Sb (202 koz Au and 9,000 tonnes Sb),” Mr McLean said.
“Camel Creek also contains significant antimony, raising the potential to produce an antimony concentrate at Camel Creek. This is a material step forward for GNM, increasing the contained gold at our Golden Ant Project by 111% to 386 koz Au and will underpin the Golden Ant Project Scoping Study.
“Exploration activities will continue at our Golden Ant Project as we seek to further increase the Mineral Resource and, as part of the Scoping Study, seek to better understand the potential for higher grade Mineral Resources at depth at Camel Creek and Golden Cup.”
The Camel Creek deposit lies wholly within Mining Leases MLs 10168, 10175 and 10192 which are held by Golden Ant Mining Pty Ltd. Great Northern Minerals Limited acquired 100% of issued capital of Golden Ant Mining Pty Ltd in August 2020 and now holds a 100% interest in Mining Leases. The Mining Leases are all granted.
Potential to Increase the Camel Creek MRE
To date, the majority of the Camel Creek Mineral Resource Estimate is located within the Hinge Zone (comprising 61% of the total resource by volume and 65% by tonnage, at 0.5 Au g/t cut-off).
The Hinge Zone is open at depth and strike and GNM intends to carry out a systematic drilling program in 2022 to target these potential extensions and also to support the potential for a high grade UG mining operation.
The successful completion of the Camel Creek MRE supports the Golden Ant Scoping Study, designed to assess mining, metallurgical, environmental parameters of the project and to investigate and determine the optimum path forward to understand the potential economics of both the Camel Creek mineralised zones and also the potential integration of the entire Golden Ant project.
Potential to Increase the Golden Ant MRE
To date, GNM has completed Mineral Resource Estimates for its Camel Creek, Golden Cup and Big Rush deposits delivering a total Mineral Resource of 6.1Mt @ 2.0 g/t Au (386 koz Au).
GNM believes that there is significant potential to increase this resource. All deposits (Camel Creek, Golden Cup and Big Rush) are open at depth and strike and GNM intends to undertake targeted exploration at these deposits, targeting potential high-grade mineralisation at depth.
The Golden Cup deposit is only defined to 70 metres vertical depth and further deeper drilling at depth is likely to define additional mineralisation in this area. GNM is currently planning a drilling program to test the Golden Cup depth extensions and this program is scheduled to commence in Q2 2022.
GNM controls the Amanda Bell Goldfield (which contains the Camel Creek and Golden Cup deposits). Historical mining operations were undertaken at multiple satellite deposits within the Goldfield (Red Gold, Mt Dora, Dora Creek, Beatrice, Blue Gold, AP Gold, Spartan and Dead Horse) which GNM control but have not yet been able to access (subject to grant of tenements).
There are a large number of undrilled targets and open-ended significant intersections underneath a number of the previously mined open pits.
Gold bearing oxide ore has been mined from open pits at these deposits and it is believed that there is the potential to define significant sulphide mineralisation (gold plus antimony) at a number of these deposits. EPM 26637 is expected to be granted imminently and this will allow GNM to commence work (exploration, resource estimation) on known historical mines, with priority being the Red Gold deposit.
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