Great Northern Minerals says recent drilling has shown the potential to delineate a large gold resource at its Big Rush project south of Greenvale in North Queensland.
Assays have returned high-grade results including a 24m intersection at 3.9g/t gold – with an 8m section that graded at 10.57g/t gold from a depth of 140m, and 32m at 3.89g/t gold – with a 4m section grading at 18.97g/t gold from 76m.
“This drill program has opened up the potential at Big Rush for the delineation of a large gold resource,” Great Northern Minerals managing director Cameron McLean said.
“Anomalous gold mineralisation is now documented to occur over at least 1km of strike and so far appears to continue at depth well into the primary ore zones.”
Early this month the company raised $1.6 million through a share placement to accelerate its exploration push in North Queensland.
The company is focused on the Golden Ant group of projects that it acquired in August 2019, which includes the former Camel Creek and Golden Cup gold mines as well as Big Rush.
The recent drilling at Big Rush totalled 22 holes for 3634m, spread over about 900m of strike underneath previously mined shallow pits.The company has released initial 4m composite results from the first 16 holes.
In a geological review released in April, the company pointed out similarities between its NQ gold projects and the world-class Fosterville deposit in Victoria.
Deeper drilling in 2015 below the shallow modest resource at Fosterville unlocked its full potential by intersecting bonanza free gold zones.
Great Northern said similar depth potential was believed possible at Big Rush and Golden Cup.