- Great Northern Minerals (GNM) wraps up its reverse circulation drilling program at the Camel Creek Gold Project in North Queensland
- The final results from the program confirm deeper and higher-grade mineralisation at the Hinge Zone target
- Specifically, a drillhole to the south of the target intersected 72 metres at 1.26 grams per tonne of gold, including a number of higher-grade zones
- Plans are advancing for an additional reverse-circulation and diamond tail program at the project to test and extend the highlighted zones
- Shares last traded 11.76 per cent lower at 1.5 cents at 1.5 cents at 10:55 am AEST
Great Northern Minerals (GNM) has wrapped up its reverse circulation drilling program at the Camel Creek Gold Project in North Queensland, with some of the company's best results so far.
The latest results are the second and final batch from the recently completed program which comprised a total of 49 holes for 5996 metres of drilling.
Last month, GNM's share price jumped after the company announced the four metre composite results from the first 24 holes at Camel Creek with high-grades of up to 10.87 grams per tonne of gold.
Initial results indicated high grades in drillholes that tested the Hinge Zone.
New results from a drillhole south of this area has returned a large intersection of 72 metres at 1.26 grams per tonne of gold, which is said to include a number of higher-grade zones and is open to the south and at depth.
GNM is particularly encouraged by these results which confirm deeper and higher-grade mineralisation at the Hinge Zone target which remains open at depth and along strike.
Other drillholes to the north on nominal 40 metre centres, were designed to target beneath the previously mined areas and GNM said the results in these areas are consistent and have defined substantial gold mineralisation extending over 350 metres of strike and 100 metres vertical depth.
Further, the company notes the majority of the anomalous intersections are associated with a strong mylonite zone trending north east and up to 20 metres in width and extending along strike over the entire area tested.
Managing Director Cameron McLean said the finalisation of the program has returned some of the best and most significant assay results seen at Camel Creek.
While the final batch of four-metre composite assays have been returned, the company is expecting the results from all the one metre samples within a few weeks.
The four-metre samples have provided an indicative distribution of the grades, and the one-metre assays will be analysed for multi-element assays and gold.
Plans are moving ahead for an additional reverse-circulation and diamond tail program at the project which is scheduled to start by the end of July.
Commenting on the plans, Mr McLean said, "we look forward to the next program, designed to test and extend the high grade and strike extensive gold mineralised zones highlighted".
The company aims to follow the additional program with an initial resource estimate later in the year.
Shares last traded 11.76 per cent lower at 1.5 cents at 10:55 am AEST.