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Great Northern Minerals Limited (ASX:GNM)

ALERT: Price-sensitive ASX Announcement for GNM
Current share price for GNM : $0.022 -0.012 (-35.29%)+
Announcement
Release
17 Sep 2026 8:17AM
Price at Release
$0.034
Full Release
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Summary
Great Northern Minerals Limited announced that geophysical work at its Douglas Creek Project in North Queensland has identified several compelling undrilled drill targets, materially improving the project’s exploration outlook. A recent dipole-dipole induced polarisation survey and 3D magnetic inversion defined at least three undrilled chargeability anomalies interpreted as sulphide-related targets, alongside a strongly magnetic reverse-polarised tonalite intrusive body about 1.5 km by 500 m that may extend to around 1 km depth and is spatially associated with widespread surface geochemistry including gold, copper, silver and bismuth. The company said previous drilling, averaging only about 50 m deep, was too shallow to properly test these anomalies, which may represent intrusive-related porphyry or skarn mineralisation. GNM highlighted geological and geophysical similarities between Douglas Creek and major North Queensland intrusion-related systems such as Mt Leyshon and Kidston, particularly the association of reverse magnetic features and IP chargeability with mineralisation within the Kennedy Igneous Province. Follow-up work has commenced, including extending soil sampling over the southern IP anomaly and stream sediment sampling over similar northern magnetic features, with drill target prioritisation, permitting and planned drill testing expected to progress after this work, with drilling targeted for mid-2027 following the wet season.
Key Points
  • GNM completed geophysics programs at Douglas Creek and identified several compelling undrilled anomalies.
  • A recent DDIP survey defined at least three undrilled chargeability anomalies indicative of sulphides and supported by surface geochemistry.
  • Magnetic inversion suggests a strongly magnetic reverse-polarised intrusive tonalite associated with widespread surface gold geochemistry over more than 1 km of undrilled strike.
  • The main reverse-polarised magnetic body is interpreted to be about 1.5 km by 500 m and to extend to around 1 km depth, with an eastern apophysis also identified.
  • The central DDIP anomaly lies east and below shallow historic drilling and appears spatially related to the eastern apophysis, in an area that has never been drilled.
  • The strongest southern DDIP anomalies occur along the Kangaroo Hills formation contact and had not previously been tested by surface geochemistry or drilling.
  • Northern DDIP anomalies occur along the western margin of the magnetic low and are supported by previously reported rock chip assays containing gold, copper, silver and bismuth.
  • GNM believes previous drilling averaging about 50 m depth was too shallow to test the newly identified targets.
  • The geophysical signature and intrusive age at Douglas Creek are considered analogous to intrusion-related gold-copper systems such as Mt Leyshon and Kidston.
  • Douglas Creek is located within the Kennedy Igneous Province, a favourable regional setting for Permian-Carboniferous intrusion-related mineral deposits.
  • Follow-up soil sampling has been mobilised over the southern IP anomaly and stream sediment sampling is being undertaken over similar northern reverse-polarised magnetic features.
  • GNM plans to prioritise drill targets after the follow-up programs, begin permitting once the drilling program is finalised, and aims to complete drill testing in mid-2027 after the wet season.
  • The announcement reports no new drilling or geochemistry, but includes technical details for the DDIP survey and magnetic reinterpretation under JORC Table 1.
  • The Douglas Creek Project comprises EPM 27522 and EPM 28598, held by Northern Exploration Pty Ltd, a wholly owned subsidiary of Great Northern Minerals Limited.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.