Intercepts included 4m at 6.3gpt from 154m, including 1m at 19.2gpt gold and 3m at 1123gpt gold from 155m; 5m at 7.53gpt from 79m, including 1m at 29.3gpt gold and 1m at 1118gpt cobalt; and 7m at 3.22gpt gold and 3m at 522gpt cobalt from 78m.
The results appear to support government drilling from the 1980s that suggested the gold grades increase at depth.
There is also a one million pound associated cobalt resource (JORC 2004) at depth as defined by Queensland Mining Corporation in 2011 in the area.
The mine ceased production due to low gold prices in 1989 with average grades of 4.2gpt, and if Ausmex’s latest results are upheld there appears to be plenty of life left for the taking.
Operating for almost 50 years, Mt Freda remains an anomaly, one of only three ...