Mount Morgan Project, Queensland
100% owned by GBM
The Mount Morgan Project is adjacent to the world-class Mount Morgan Gold Mine which has produced over 8 million ounces of gold and 400,000 tonnes of copper. This area is one of the largest known porphyry copper systems in Eastern Australia.
The tenement package which is located approximately 50kms west of Rockhampton in North Queensland, incorporates 11 granted leases covering a total area of approximately 615km². The Mount Morgan Project holds highly prospective tenements including the Smelter Return and Limonite Hill prospects, other buried targets within the Bajool, Sandy Creek and Oakey Creek prospects, the Mount Gordon porphyry system and the Mt Usher Gold Prospect.
At the Mt Usher Gold Prospect, historical research confirms that over 150,000 ounces of gold was produced from a vertical interval of approximately 150 metres from the Mount Usher Gold Mine (hardrock) and the related alluvial field (GBM ASX release 12 September 2017). Results from a campaign of mapping, soil and rock-chip sampling was completed in 2017 and as such GBM believes there is considerable potential for the discovery of significant high-grade, narrow vein mineralisation and that another bulk-tonnage quartz-sulphide deposit analogous to Mt Morgan may exist beneath the field.
The Mount Morgan Project remains one of the Company’s key exploration areas with several advanced targets approaching drill ready in an area adjacent to the world class Mount Morgan Gold Mine.
Mount Morgan Project tenement and prospect/target location map.