Great Northern Minerals (ASX:GNM) has reported a maiden inferred Mineral Resource Estimate (MRE) of 480,000oz gold and 11.5 million ounces (Moz) silver at its Iron Butte Gold-Silver Project in Nevada, US.
The resource comprises 37.85 million tonnes (Mt) @ 0.40 grams per tonne gold and 6.00g/t silver for 480,000oz gold and 6.67Moz silver. An additional silver resource of 19.25Mt @ 8.00g/t silver contains 4.80Moz silver.
ERM Australia Consultants completed the JORC Code (2012) compliant estimate for the epithermal system located in Lander County.
The project sits within the Battle Mountain‑Cortez Mining District, 55km south of Battle Mountain and 45km south of Nevada Gold Mines’ Phoenix Mine.
“Delivering the maiden JORC MRE at Iron Butte is a defining milestone for GNM and marks the completion of a major step for the Project,” Non-Executive Chairman Eddie King says.
Gold and silver mineralisation is hosted within rhyolitic volcanic rocks and a footwall shale unit. The resource extends 1,900m along strike, 800m in width and to 200m depth below surface. Mineralisation remains open along strike in all directions and at depth.
Previous drilling returned 1.5m @ 13.50g/t gold and 11.50g/t silver from 405.4m within 13.7m @ 1.50g/t gold and 3.00g/t silver from 397.8m, highlighting potential for Carlin‑style mineralisation beneath the current resource.
The company has commenced geophysical reinterpretation of the expanded project area to define priority drill targets. Planning and permitting activities are underway for a maiden drilling program targeting commencement in Q3 2026.
The program will focus on resource growth through drilling along strike and at depth, as well as testing additional regional targets. Great Northern holds $3.9 million cash and is fully funded for the next drilling campaign.
The resource is classified wholly as inferred based on 146 reverse circulation holes and two diamond holes totalling 23,032m completed between 1980 and 2022. The estimate uses a 0.25g/t gold cut‑off grade for gold‑silver mineralisation and 4 parts per million silver cut‑off for silver‑only zones.
Write to JC Villarba at Mining.com.au
Images: Great Northern Minerals
