In August 2019 Great Northern Minerals acquired the former producing gold mines of Camel Creek, and Golden Cup in Northern Queensland 215 km west of Townsville. These mines and associated leases make up the Golden Ant Project. Approximately 660km2 of tenements covering four known gold-antimony trends provide significant exposure the antimony identified as a Critical Raw Material.
Last operated in the mid 1990’s the combined mines produced in excess of 150,000 ounces of gold at an average grade of over 2 g/t Au. The Camel Creek and Golden Cup mines are adjacent to each. All of the mines ended in mineralisation when mining stopped in the 1990’s when the gold price was below US$400/oz compared with today’s gold price of greater than US$1,400/oz. The previous production from the Mines was confined to shallow pits that provided oxide ore for heap leach operations.
GNM’s key project in North Queensland – approximately 660km2 ground holding covering four known gold-antimony trends (structural corridors)
8 granted mining leases, 2 granted EPM and 3 EPM applications
High grade JORC Mineral Resource– Camel Creek: 2.4 Mt @ 2.6 g/t Au & 0.4% Sb (202koz Au & 9,000t Sb)– Golden Cup: 0.3Mt @ 3.4 g/t Au (30koz Au)– Material potential to increase Mineral Resource
Exciting Douglas Creek discovery (Ag-Au-Cu Intrusion Related Gold System)
Focus of GNM’s exploration effort– Recently completed 11 hole RC drill program at Golden Cup– Mapping, rock chip and soil sampling at Douglas Creek – currently drilling
MORE ABOUT EACH PROJECT
Exposure to Antimony, a Critical Raw Material
Critical Raw materials are metals and minerals essential to economic and national security and are vulnerable to supply chain disruptions. Great Northern Minerals has reported 9,000 tonnes of antimony at Camel Creek.
- Antimony is an emerging material thats been declared a critical mineral with production mainly coming out of China.
- Primarily used as a fire retardant but is also being developed for energy storage batteries.
- There is a global shortage of concentrate feedstock of antimony. It has been identified as a critical raw material by the US, UK, EU, Japan, Canada and Australia.
- Recent and ongoing geo-political shockwaves from the Russia-Ukraine conflict have driven antimony prices to US$14,000 per tonne. The price of antimony has more than doubled in the last 12 years from US$5000 in 2010.