Great Northern Minerals Limited (ASX: GNM) has announced a highly positive update on the Central Lode at the Big Rush Gold Mine in Queensland.
The company reported a maiden Central Lode resource of 558,322 tonnes at 2.62 g/t Au for 47,006 ounces. The Central Lode resource is open at depth and along strike.
The company noted that potential milling options exist within trucking distance. GNM said that its resources now total 77,000 ounces.
Big Rush gold mine
The Big Rush Gold Mine in Northern Queensland consists of four previously mined open pits which produced 950,000 tonnes @ 1.90 g/t Au for 58,039 ounces via heap leaching and produced 33,000 tonnes of sulphide ore @ 11 g/t Au for 10,000 ounces by trial CIL Processing.
Big Rush project is part of the Golden Ant group of projects that GNM had acquired in August 2019. Other project include the former Camel Creek and Golden Cup gold mines.
Big Rush is located on 3 granted Mining Leases MLs 10168, 10175, and 10192 which are held by Alphadale Pty Ltd. There were 4 pits mined over 1.7 km of strike length with the depth of mineralisation again being limited to the oxide zone.
Some of the historical high-grade drill intersections beneath the Central Open Pit include 32m @ 14.0 g/t Au from 69m (Hole BR136); 21.4m @ 2.26 g/t Au from 76m (Hole BRPD140); and 19m @ 3.51 g/t Au from 74m (Hole BR151).
The Central Lode resource at Big Rush is open along strike to both the Northeast and Southwest and also at depth. Minimal historic drilling has occurred below a vertical depth of 75 metres or outside of the mineralisation model as seen in the long section view through the Central Lode.
Maiden MRE for Central Lode
The company has now announced a maiden JORC-compliant mineral resource estimate for the Central Lode at the Big Rush Gold Mine in Northern Queensland.
GNM reported that a gold mineral resource of 558,322 tonnes at 2.62 g/t Au for 47,006 ounces of contained gold has been estimated above a 0.75 g/t Au cut-off grade and below excavations of the historic Central Pit.
The table below sets out the resource estimate at a variety of cut-off grades. It may be noted that the resource estimate consists of material in both the indicated and inferred categories.
The company reported that the Central Lode mineral resource is composed of four parallel mineralised domains which are located largely beneath the previously mined Central Pit gold mine. Approximately 55% of the resource is in the indicated category with the balance in the inferred category.
GNM said that when historic gold production is combined with the current resource estimate this takes the total endowment at Big Rush to 115,000 ounces of gold which compares favourably with GNM’s previous exploration target.
Drilling at Big Rush
Great Northern Minerals reported that it had recently completed an 8 hole Reverse Circulation (RC) drilling program at Big Rush to validate historic mineralised intercepts and to obtain further geological and QAQC data.
The company said that a significant drilling program is planned to be undertaken at the Big Rush project this year with the aim of rapidly increasing the maiden resource at the Central Lode and also undertaking further testing at the Northern Pit, Southern Pit, and Sergei Pit areas.
The company announced that further work will include drill testing for extensions to the known mineralization, mostly down dip and along strike; additional metallurgical test work to determine the most appropriate process route for gold recovery; and the completion of an initial Scoping Study on the economics of re-establishing a gold producing operation at Big Rush.
Great Northern Minerals Managing Director, Cameron McLean said: “The Board and Management of Great Northern Minerals are delighted to announce this 47,000 ounce maiden gold resource estimate at the Big Rush Project.
The estimation of the Central Lode resource follows from the exciting high grade RC drilling assays from Big Rush which were reported in December 2019 and January 2020.
In the last two month period we have released maiden resource estimates at both Golden Cup and Big Rush indicating the potential of the Company’s projects. It is hard not to be excited by the prospects of 2020 and what it holds for the Company”.