Great Northern launches into Camel Creek gold drilling
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Great Northern Minerals has kicked off drilling at the Camel Creek gold project in North Queensland on the back of a recent successful $3 million capital raise.
The raise completed last month enables Great Northern (ASX:GNM) to drill both Camel Creek and Big Rush – two projects with potential to host massive gold systems which are part of a mothballed collection of mines which produced more than 160,000 ounces in the 90s.
Great Northern has wasted no time getting moving on the latest drill program at Camel Creek, where two programs completed last year highlighted the potential of a significant gold system.
Intersections from those programs hit high grade gold in multiple locations, extending over around a kilometre of strike.
Known mineralisation in the area as defined by previously mined shallow open pits and previous drilling extends over at least 3km, and GNM’s new program will test mineralisation over 2km of strike to an average depth of 120m.
Reverse circulation drilling on nominal 40m centres is planned for the upcoming campaign, with hole depths ranging from 80-180m depth with a total of 5000m to be drilled.
The exploration campaign is designed to define a JORC 2012 resource estimate for the Camel Creek gold system.
The drilling is expected to take around a month to complete, with assay results due over the following month. An update to the Camel Creek resource would follow on from a 200% mineral resource increase at Big Rush announced in February.
GNM’s flagship North Queensland assets were acquired in 2019, and also incorporate the Golden Cup gold mine.
This article was developed in collaboration with Great Northern Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.