Join our daily newsletter At The Bell to receive exclusive market insights
- Great Northern Minerals (GNM) receives one-metre assay results from reverse circulation drilling completed at the Camel Creek project in North Queensland
- The results follow on from four-metre composite results, outlining a number of gold zones and deeper, higher-grade mineralisation at the target Hinge Zone
- A follow-up program is planned to test further strike extensions and down dip continuity, which will be followed by an initial resource estimate later in the year
- Planning for the program is said to be well-advanced and scheduled to start next month, subject to finalisation and scheduling with the drilling contractor
- Shares are trading 7.7 per cent higher at 1.4 cents each at 10:33am AEST
Great Northern Minerals (GNM) has received one-metre assay results from reverse circulation drilling completed at the Camel Creek project in North Queensland.
According to the company’s Managing Director, Cameron McLean, the latest results are the best and most significant assay results ever seen at Camel Creek, on the back of the four-metre composite results reported earlier this month.
The one metre results are said to confirm and enhance the four-metre composite results, with a number of gold zones outlined, and results indicating deeper and higher grade mineralisation at the target Hinge Zone.
Specifically, drillhole CCRC50 which tested the Hinge Zone target, was drilled to 227 metres, intersecting 58 metres at 5.86 grams of gold per tonne (g/t) from 155 metres, 18 metres at 14.09 g/t from 189 metres and lastly, one-metre at 153.89 grams of gold per tonne at 191 metres.
Of the 49 holes drilled, the company said five designed to test un-tested areas of the Hinge Zone target have outlined a zone of new gold mineralisation over 250 metres of strike and extending to at least 180 metres below surface and is open at depth and along strike.
Drillholes that targeted underneath previously mined areas are said to have returned consistent results with substantial gold mineralisation extending over 350 metres of strike and 100 metres vertical depth.
GNM said plans for an additional drill program to test further strike extensions and down-dip continuity, are well advanced with work scheduled to start by the end of next month, subject to finalisation and scheduling with the drilling contractor.
Further, the company said the additional program will be followed by an initial resource estimate later in the year.
Shares were trading 7.7 per cent higher at 1.4 cents each at 10:33am AEST.
