Special Report: This is the first time Camel Creek – the largest gold system in Great Northern Minerals’ (ASX:GNM) North Queensland portfolio – has been drilled since 2006.
Historic mining at Camel Creek saw ~60,000oz pulled out of about 30 small pits over a 4km stretch.
Great Northern Minerals believes there is a lot more gold where that came from and investors agree, sending the stock up ~15 per cent on Wednesday.
A gold exploration target of between 32,000 and 112,000oz per 100m of vertical extent had been previously estimated for Camel Creek.
This maiden 15 hole ~ 2,180m drilling campaign is designed to follow up some impressive older intersections from the floor of the open pits, including:
- 12m at 8.4 grams per tonne (g/t) gold from surface
- 22m at 2.94g/t gold from 8m, and
- 9m at 10.4g/t gold from 6m.
Holes will be drilled to depths of between 80m and 180m, with initial assay results expected toward the end of August.
The company has also released a new video, Spotlight on Camel Creek, with new footage of the project and a fly through of the historic drilling and the proposed program.
The video can be found on the GNM Investor Dashboard: http://www.greatnorthernminerals.com.au/index.php/investor_dash/
This story was developed in collaboration with Great Northern Minerals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.