A Golden Cup runneth over for Great Northern Minerals, which struck high grade gold mineralization directly below historic pits at the Queensland gold prospect of that very name.

Results of up to 14.3g/t gold have excited the market, the fruits of Great Northern’s (ASX:GNM) labour in the form of a 1022m RC drilling program at the 30,000oz Golden Cup project.

The deposit, part of GNM’s Golden Ant project in North Queensland, was mined over a 1500m strike length for 0.2Mt at a grade of 2.8g/t.

But that production finished back in 1993 at an average pit depth of just 15m, targeting cheap oxide mineralisation.

Mineralisation in the 11 RC holes was consistently mineralised from 35m deep, with the high-grade gold still open at depth.

Best results included:

  • 7m at 4.6g/t from 61m including 2m at 14.3g/t from 61m (GCRC093)
  • 6m at 7.4g/t from 67m including 3m at 11.3g/t from 68m (GCRC094); and,
  • 10m at 2.1g/t from 45m including 2m at 5.4g/t from 48m (GCRC084).

“The Golden Cup assay results confirm that GNM’s recent drilling program intersected high grade gold mineralisation in multiple holes and that the deposit remains open at depth,” GNM CEO and managing director Cameron McLean said.

“The consistent gold intercepts follow natural extension of historical pits.

“With this phase of drilling at Golden Cup complete, we turn our attention to drilling our exciting Douglas Creek target.”

Great Northern Minerals asx gnm
Long section of drilling at Golden Cup. Pic: GNM

The results from the Golden Cup program will be used to review GNM’s potential to increase the Golden Cup mineral resources and plan a follow up program for 2023.

They confirmed the steep south plunging gold shoots indicated in previous drilling and mining history, which are consistent with a similar orientation to high grade shorts and Camel Creek and provide a ready made target for future drilling.

The nearby Camel Creek was mined over a 4km strike length across 28 open pits, with over 1Mt of ore extracted and processed via heap leach methods.

 

 

 

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.

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