The Golden Cup Mine was a small but high-grade heap leach operation, located 15 kilometres from the Camel Creek Mine and produced 201,081t @ 2.83 g/t Au at a strip ratio of less than 2. Golden Cup was mined as 9 small open pits. The resource potential at depth and along strike of this high-grade mine represents a strong exploration/development target.
Assay results from a recently completed RC drilling program confirm intersected high grade gold mineralisation in multiple holes and that the deposit remains open at depth. The consistent gold intercepts follow natural extension of historical pits.
Key points:
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9 pits mined over 1,700m of strike length for 0.2Mt tonnes mined at an average grade of 2.8 g/t Au, with production finishing in 1993
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Current JORC Resource of 0.3Mt @ 3.4 g/t Au – open at depth
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High grade gold mineralisation intersected in recent Golden Cup drilling program– GCRC093 intercepted 7.0m @ 4.6 g/t Au from 61m down-hole inc. 2.0m @ 14.3 g/t Au from 61m down-hole;– GCRC094 intercepted 6.0m @ 7.4 g/t Au from 67m down-hole inc. 3.0m @ 11.3 g/t Au from 68m down-hole; and– GCRC084 intercepted 10.0m @ 2.1 g/t Au from 45m down-hole inc. 2.0m @ 5.4 g/t Au 48m down-hole
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GNM is reviewing the drill results and is planning a follow up drilling program to take place in 2023
