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Greenpower Energy Ltd.
Summary
| Project: | Camel Creek | |
|---|---|---|
| Deposit: | Camel Creek | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-7-2019: Greenpower Energy Ltd. announces a Resource Estimation report for its Camel Creek deposit at the Camel Creek project. Gold Exploration Target identified. Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to give an update | |
| Resources: | Exploration Target Range: 0.5 - 1.0Mt @ 2.0 - 3.5g/t Au | |
| CP/QP: | [Overall Report]: Andrew Jones (Internal) | |
| ABSTRACT: | Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to give an update on Due Diligence activities relating to the Golden Ant Project. As announced on the 14th 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 in Northern Queensland (Figure 2). The mines were last operated as heap leach operations in the mid-1990’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 Camel Creek Gold Mine located on 7 granted Mining Leases 140 km Northwest of Townsville (Photo 1; Figure 3). Gold was first discovered around Camel Creek in 1987 and mining operations by Golden Ant Mining began in 1989 and continued through until 1995. At Camel Creek, a total of 1,059,696 tonnes of ore was mined at a recovered grade of 1.68 g/t Au to produce 57,238 ounces of gold. A total of 28 shallow open pits, ranging in depth from 12 – 25 metres, were historically mined over a 2 km strike length. The gold was recovered by heap leaching of uncrushed oxide material. The last exploration undertaken at the Camel Creek Gold Mine was a program of 8 Reverse Circulation (RC) drill holes by the Golden Ant Mining – Wiluna Mines joint venture in 1995 targeting gold and antimony mineralisation beneath open pit 8/10. Greenpower has defined a near-surface gold Exploration Target at Camel Creek as shown in Table 2. The potential quantity and grade of the defined Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. | |
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