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Great Northern follow-up returns golden

27 July 2022
ASX: GNM
Jack Baker

Great Northern Minerals have defined three new zones holding extensive and high-grade gold mineralisation after follow-up at the Douglas Creek discovery, part of its expanding Golden Ant project in northern Queensland.

Gold was intersected up to 8.6 grams per tonne with enviable results also featuring a 277.8g/t silver strike and a copper hit of 10.9 per cent.

The May discovery of high-grade outcropping mineralisation while targeting a historical gold anomaly spurred the follow-up program — resulting in extensive soil anomalies.

The company said the project represented a brand discovery with zero workings or historical drilling.

“Douglas Creek continues to deliver and to grow, with our geology team delivering a further series of outstanding results from the follow-up from the discovery of mineralisation in May,” chief executive and managing director Cameron McLean said.

The company’s geology team has already moved on the results with detailed soil sampling, and other rock chips, drill design, and approval activities are underway.

Notable results:

  • Zone 1: Gossanous breccia with a strike length >350m, averaging 20 to 30m wide – Sampling returns grades of up to 8.6 g/t Au, 194.1 g/t Ag, 1.0% Bi, 10.9% Cu & 0.2% Pb
  • Zone 2: Mineralisation outcropping over an area of approx. 275m by 100m – Sampling returns grades of up to 6.0 g/t Au, 277.8 g/t Ag, 0.4% Bi, 0.3% Cu & 1.5% Pb
  • Zone 3: Mineralised float and subcrop over an area of 450m by 20m – Sampling returns grades of up to 2.7 g/t Au, 77.2 g/t Ag, 0.5% Bi, 0.8% Cu & 0.1% Pb

GNM’s Australian Stock Exchange-listed share price has risen 25 per cent today, selling at 0.5c (10.41 am UTC+ 8 hours).

COMPANY OVERVIEW

Great Northern Minerals has secured three gold mines containing some very high-grade mineralisation. The mines have previously produced more than 150,000 oz at an average grade of 1.91g/t Au. The company is optimistic of meeting the exploration targets of nearly 600,000 ounces that have been defined at each of Golden Cup, Camel Creek and Big Rush of between 198,000 and 590,000 ounces of gold to be present within the top 100 vertical metres alone.

COMPANY INFORMATION

ASX: GNM

Website

https://www.greatnorthernminerals.com.au/
https://www2.asx.com.au/markets/company/gnm

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