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Greenpower Energy Ltd.
Summary
| Project: | Golden Ant | |
|---|---|---|
| Deposit: | Golden Cup | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-6-2019: Greenpower Energy Ltd. announces a Resource Estimation report for its Golden Cup deposit at the Golden Ant project. Gold Exploration Target identified. Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to report on Due Di | |
| Resources: | Exploration Target: 0.45-0.75Kt @ 3.5-5.5g/t Au at Golden Cup | |
| 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, located approximately 210km north west of Townsville, Qld. 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 1). 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 1.91g/t Au (Table 2). All of the mines were in mineralisation when mining stopped in the 1990’s when the gold price was below US$400 per ounce compared with today’s gold price of greater than US$1,300 per ounce. As part of the Due Diligence process Greenpower has been compiling and assessing information from the Golden Cup Gold Mine. The Golden Cup Mine was a small but highgrade heap leach operation that is located 15 kilometres from the Camel Creek Mine and produced over 18,000 ounces of gold (Table 2). Golden Cup was mined as 9 small open pits located on Mining Lease 4536 (Photo 1 & Figure 2). Golden Cup was operational from 1988 - 1993 and during this period 201,081 tonnes of ore was mined for a recovered grade of 2.83g/t. | |
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