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Greenpower Energy Ltd.
Summary
| Project: | Big Rush | |
|---|---|---|
| Deposit: | Big Rush | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-7-2019: Greenpower Energy Ltd. announces a Resource Estimation report for its Big Rush deposit at the Big Rush project. Gold Exploration Target identified. Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to report on Due Dilige | |
| Resources: | Exploration Target Range: 1.8 - 3.6Mt @ 2.0 - 3.0g/t Au | |
| CP/QP: | [Overall Report]: Andrew Jones (Internal) | |
| ABSTRACT: | Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to report on Due Diligence activities relating to the Golden Ant Project. As announced on 14 May 2019, Greenpower has entered into an Option Agreement with Q-Generate Pty Ltd to acquire the former producing gold mines of Camel Creek, Golden Cup and Big Rush located in Northern Queensland. The mines were predominatly operated as heap leach operations, with minor trial CIL Plant production, in the mid1990’s and between them produced in excess of 150,000 ounces of gold at an average grade of 1.91 g/t Au (Table 1). As part of the Due Diligence process Greenpower has been compiling and assessing available information from the Big Rush Gold Mine, located on 3 granted Mining Leases, 200 km West of Townsville (Figure 2). Four shallow open pits were mined between 1995 – 1998 at Big Rush over a strike length of 1.7 km with the depth of mining largely restricted to the oxide zone (10 - 45m deep; Photo 1 & Figure 4). Historic production at Big Rush included heap leach gold production of 950,000 tonnes @ 1.90 g/t Au for 58,039 ounces (Photo 2) and trial CIL Plant gold production from sulphide ore of 33,000 toness @ 11 g/t Au for 10,000 ounces. In addition, the Company recently applied for a new Exploration Permit (EPM 27283) to cover possible strike extensions to the Big Rush mineralisation and other prospective areas. EPM 27283 covers an area of 301 km2 and adjoins the Big Rush Mining Leases on the south and western sides (Figure 4). | |
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