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- Great Northern Minerals (GNM) defines three new zones of mineralisation at the Douglas Creek discovery in North Queensland
- The company undertook sampling and mapping at the discovery which is part of its Golden Ant project
- Each zone returned high-grade sample results including up to 8.6 g/t gold, 277.8 g/t silver, and 10.9 per cent copper
- All zones remain open to the southeast and southwest and GNM plans to conduct follow-up work to better understand the extent of the mineralisation
- Company shares are up 11.1 per cent and trading at 0.5 cents at 12:53 pm AEST
Great Northern Minerals (GNM) has received results from exploration at its Douglas Creek discovery within its Golden Ant project in North Queensland.
The company completed geochemical sampling and mapping to better understand the intrusion-related gold system (IRGS) discovery.
The program mapped and sampled a 125-hectare area which identified soil anomalies and multiple mineralised zones.
Positively for the company, this work identified three zones of extensive, high-grade IRGS mineralisation at the Douglas Creek discovery.
Zone 1 is a breccia zone extending for over 350 metres of strike and is 20 to 30 metres wide.
Grades from Zone 1 include 8.6 grams per tonne (g/t) gold, 194.1 g/t silver, one per cent bismuth, 10.9 per cent copper and 0.2 per cent lead.
Zone 2 contains outcropping gossanous, quartz veined brecciation altered sandstone and rhyolitic rocks over an area of 275 metres by 100 metres.
Sampling at Zone 2 returned up to six g/t gold, 277.8 g/t silver, 0.4 per cent bismuth, 0.3 per cent copper and 1.5 per cent lead.
Zone 3 comprises “scattered float” and sub-crop over northeast-southwest trending zone that is 450 metres long and 20 metres wide.
The third zone returned grades of up to 2.7 g/t gold, 77.2 g/t silver, 0.5 per cent bismuth, 0.8 per cent copper and 0.1 per cent lead.
All three zones are open to the southeast and to the southwest and the company plans to conduct follow-up activities to better understand the extent of the mineralisation.
This work is expected to begin in the next few weeks and is likely to be followed by drilling.
“Douglas Creek represents a brand new discovery for the company with no historic drilling or workings,” CEO and Managing Director, Cameron McLean said.
Company shares were up 11.1 per cent and trading at 0.5 cents at 12:53 pm AEST.
