The gold-focused explorer has found favourable lithologies and potential mineralisation in all 10 diamond holes within 100m of the gold zone target at the project, part of the company’s Queensland Gold projects.
GNM, which is also investigating the potential of its key North Queensland Gold projects, aims to confirm extensions of historic high grades of gold in the region with plans to develop a new gold camp in region.
Following 484 metres of diamond drilling, including 508 metres of pre-collar holes, logging of geotechnical and geological aspects of anomalous sulphide accumulations have been recorded.
The company said the diamond drill rig would begin drilling from the base of the reverse circulation pre-collared holes down through the interpreted extension of the Bulgera high-grade gold zone.
“Over the next few days, all diamond core for analysis will be transported to Townsville,” the company said.
“The core will be cut and submitted to the laboratory for multielement analysis,”
“The laboratory has advised that due to unprecedented sample numbers and backlogs, results are likely to be available by the end of January 2022.”
GNM’s Australian Stock Exchange-listed share price was trading at .7c (10:18am UTC+ 8 hours)