Join our daily newsletter At The Bell to receive exclusive market insights
- Great Northern Minerals (GNM) has received pleasing assay results from the first two drill holes at the Golden Cup Gold Project in Northern Queensland
- A total of eight drill holes for 639 metres have been completed at Golden Cup, with the remaining six expected within the next 10 days
- The gold explorer has also announced RC drilling has been completed at the Big Rush Project and samples currently being analysed
- Following these results, Great Northern Minerals is up 20 per cent and shares are trading for 1.2 cents each
Great Northern Minerals (GNM) has received assay results from the first two drill holes at the Golden Cup Gold Project in Northern Queensland.
Early last month, the company announced it will conduct a reverse circulation (RC) drilling program at its Big Rush, Golden Cup and Camel Creek mines within the north of Queensland.
A total of eight drill holes for 639 metres have been completed at Golden Cup, with the remaining six expected within the next 10 days.
Hole GCRC074 returned an intersection of 7 metres at 7.49 g/t of gold from 38 – 45 metres downhole. Hole GCRC078 returned an intersection of 9 metres at 4.72 g/t of gold from 35 – 44 metres downhole.
The mineralised intercepts correspond to logged intervals of quartz veining and elevated amount of visual arsenopyrite and pyrite. The assays received correspond in tenor to nearby drill holes completed by previous owners of Golden Cup.
The gold explorer has also announced RC drilling has been completed at the Big Rush Project. A total eight holes for 1042 metres were drilled and a total of 794 samples submitted for gold and multi-element analysis.
Following these results, Great Northern Minerals is up 20 per cent and shares are trading for 1.2 cents each at 2:49 pm AEDT.
