Boadicea Resources has completed its application for the Mt Carmel gold exploration tenement in the Drummond Basin, Queensland.
A geophysical review found Mt Carmel to be an additional target for epithermal style gold mineralisation.
This will grow Boadicea’s tenement holding in the Drummond Basin to 214 square kilometres.
“Following the recent analysis of the geophysical data for our Clarke Reward project, it became apparent that another exploration target opportunity existed in the region,” Boadicea managing director Jon Reynolds said.
“The addition of the Mt Carmel application to our tenement position in the prospective Drummond Basin provides an excellent opportunity to apply our expertise across two tenements hosting similar features.
“We look forward to advancing the Mt Carmel project alongside the Clarke Reward (project) with the aim of adding a significant gold resource to our portfolio.”
Mt Carmel is located 20 kilometres north of GBM Resources Mt Coolon gold mine and three kilometres from Boadicea’s Clarke Reward prospect.
Once Boadicea is granted a licence for the tenement, it will assess historical exploration data in the region with additional exploration activities to focus on tests for epithermal style gold mineralisation.
The Drummond basin has a gold endowment of over 7.5 million ounces and has recorded previous discoveries of epithermal and intrusion related gold systems.
Boadicea has also announced its plans for an airborne geophysical program at Clarke Reward, after identifying target zones in a geophysical review.
“The additional processing of the publicly available geophysical data has provided significant encouragement that the Clarke Reward project has potential for epithermal gold mineralisation similar to the nearby Mt Coolon mine and other significant deposits in the Drummond Basin,” Reynolds said last week.
“The board is well resourced to advance exploration work at Clarke Reward and grow the project’s mineralisation potential within the Boadicea portfolio of tenements.”