Great Northern’s Camel Creek resource is a “material” step forward
Great Northern has pencilled in a maiden resource of 202,000oz of gold and 9,000t of antimony for the Camel Creek deposit within its Golden Ant project in Queensland.
Not only does the new resource increase the contained gold within Golden Ant by 111% to 386,000oz, its high antimony content also represents the opportunity to produce a high-value antimony concentrate.
There is also significant potential to increase this resource with further drilling, given that 65% is contained within the Hinge Zone that remains open at depth and along strike.
Recent drilling at the Hinge Zone had returned results such as 7m at 2.4 grams per tonne (g/t) gold and 0.5% antimony from a depth of 222m down-hole with Great Northern Minerals (ASX:GNM) noting that it represents an “exceptional” underground target.
Managing director Cameron McLean said the initial Camel Creek resource of 2.4 million tonnes grading 2.6g/t gold and 0.4% antimony represented a material step forward for the Golden Ant project and will underpin its scoping study.
“Exploration activities will continue at our Golden Ant Project as we seek to further increase the mineral resource and, as part of the scoping study, seek to better understand the potential for higher grade mineral resources at depth at Camel Creek and Golden Cup.”
Camel Creek is located within three existing mining leases withing the Golden Ant project in far north Queensland.
It has been the subject of substantial previous exploration, shallow resource definition drilling and mining operations.
Most historical drilling was carried out in the shallow oxide portion of the deposit for grade control and have not been used I the resource estimate.
Great Northern’s fully funded drill programs approved for 2022 will seek to grow the resource base at Camel Creek and the broader Golden Ant project area.
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.