Gold Fields and Great Southern Mining Prepare for Drilling at Queensland Gold Project
Gold Fields and Great Southern Mining are preparing to resume diamond drilling at their joint venture Edinburgh Park gold project in north Queensland, with operations scheduled to begin in May following the wet season. Under the agreement, Gold Fields can earn up to a 75% interest by investing $15 million in exploration. The upcoming program will focus on the Mt Dillon target, identified as the project's most advanced prospect due to a significant induced polarisation anomaly beneath a silicified lithocap. This geological feature suggests the presence of an intrusive-related gold system. Although previous drilling at nearby targets like Molongle and Megan Veins did not define economic mineralisation, it confirmed extensive hydrothermal alteration, reinforcing the potential for large-scale deposits. The 1,565 square kilometre project is located in a region known for major gold deposits such as Ravenswood. Great Southern Mining, recently bolstered by a $4.6 million capital raise, is fully funded to pursue this exploration alongside its other assets. The initial phase involves five drill holes aimed at testing the core of the geophysical anomaly to determine if the alteration system extends into a mineralised intrusive at depth.
Wire timeline
Gold Fields and Great Southern Mining Prepare for Drilling at Queensland Gold Project
Gold Fields and Great Southern Mining are preparing to resume diamond drilling at their joint venture Edinburgh Park gold project in north Queensland, with operations scheduled to begin in May following the wet season. Under the agreement, Gold Fields can earn up to a 75% interest by investing $15 million in exploration. The upcoming program will focus on the Mt Dillon target, identified as the project's most advanced prospect due to a significant induced polarisation anomaly beneath a silicified lithocap. This geological feature suggests the presence of an intrusive-related gold system. Although previous drilling at nearby targets like Molongle and Megan Veins did not define economic mineralisation, it confirmed extensive hydrothermal alteration, reinforcing the potential for large-scale deposits. The 1,565 square kilometre project is located in a region known for major gold deposits such as Ravenswood. Great Southern Mining, recently bolstered by a $4.6 million capital raise, is fully funded to pursue this exploration alongside its other assets. The initial phase involves five drill holes aimed at testing the core of the geophysical anomaly to determine if the alteration system extends into a mineralised intrusive at depth.
Sydney Morning Herald - Latest News