Big Rush resource gets 200% bigger with Great Northern upgrade
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Great Northern Minerals has revealed a 200% increase in mineral resources at its Big Rush gold project in northern Queensland.
Great Northern Minerals (ASX:GNM) has updated the Big Rush resource to 3.53 million tonnes at 1.36 grams per tonne gold for 154,000 contained ounces.
At a cutoff above 1g/t, the project has a mineral resource of 2.13Mt at 1.75g/t – a factor the company said highlighted the ability to reduce potential mined tonnes and increase the grade during any mining potentially conducted.
Around 75% of the mineral resource sits in the indicated category, with the balance inferred. Additional non-classified mineralised areas exist outside the resource area, highlighting the potential for further mineral resource growth.
Today’s announcement comes off the back of a large reverse circulation and diamond drilling program completed by GNM between September and November, when 22 RC holes were drilled for around 3634m, and four diamond holes were carried out for 1039.8m.
The RC holes were spread along ~900m of strike underneath the southern, central and northern previously mined shallow open pits at Big Rush. Diamond holes were spread over 200m of strike underneath the previously mined central open pit.
Big Rush’s previous mineral resource was based solely on that central pit area, and came in at 558,322 tonnes at 2.62g/t gold for 47,600oz.
Further drilling is planned for the project in 2021 with a focus on drill testing beneath the northern pit, where a number of significant intersections remain to be tested at depth.
Big Rush was one of three gold mines acquired by Great Northern in August 2019, alongside Camel Creek and Golden Cup.
Attention will now turn to Camel Creek, where a maiden resource estimate is expected later in 2021.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.