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Boadicea set for exploration on Mt Carmel tenement in gold-rich Drummond Basin
Proactive Investors reports Boadicea Resources Ltd (ASX:BOA) is poised to begin exploration on the Mt Carmel tenement (EPM 27991) which was granted on May 12, 2022, and is within the gold-rich Drummond Basin of North Queensland.
Two high priority targets – Red Hill and Hill308 – have been identified for initial reconnaissance on the 214 square kilometre tenure that is 3 kilometres northeast of Boadicea’s Clarke Reward Project.
Boadicea intends to begin with exploration-based geological activities as soon as the current unseasonal weather conditions permit, having already completed the reprocessing of infill aeromagnetic data for both Mt Carmel and Clarke Reward.
Mt Carmel and Clarke Reward are within a gold-rich region that has produced 4.5 million ounces of gold with a total endowment of more than 7.5 million ounces. They are between the Wirrallie (1 million ounces), Mt Coolon (550,000 ounces) and Yandan (870,000 ounces) deposits.
The area has been identified as a target for Intrusive Related Gold (IRG) in breccia-hosted, quartz stockwork and skarn related environments.
Excellent opportunity
“The granting of the Mt Carmel licence adding to our Drummond Basin portfolio provides an excellent opportunity to apply our expertise across two tenements hosting similar features,” Boadicea Resources managing director Jon Reynolds said.
“This has already delivered significant results with the identification of two high priority targets within the Mt Carmel licence that will be tested through additional fieldwork to identify drill targets.”
Unseasonal rainfall and extensive flooding in northern Queensland have delayed field reconnaissance, which will investigate and validate the Mt Carmel and Clarke Reward prospects and generate drilling target for further exploration.
