Without a doubt there is renewed vigour and activity around one of Australia’s oldest gold mining provinces – Charters Towers in North Queensland.

Together with other mining and exploration peers, Boadicea Resources has also taken a keen interest in this region applying for the South West Ravenswood licence.

Meanwhile, GBM Resources has also taken a keen interest in this area and is well on the way to adding Minjar Gold’s Twin Hills project to its growing suite of Drummond Basin gold tenements.

In the latest edition of Industry Queensland, it reports GBM Resources has entered a new non-binding agreement for the acquisition of Twin Hills, hot on the heels of its purchase of the nearby Yandan gold project from Aeris Resources. 

 
GBM Resources Twin Hills project map

GBM managing director and chief executive officer Peter Rohner described it as another significant step in GBM’s ‘processing halo’ strategy.

The company aims to build a gold portfolio of more than one million ounces within the Mount Coolon region – providing an entry to develop into a mid-tier Australian gold company.

GBM had previously been in talks to buy Twin Hills for $1.5 million in 2019, however, Minjar Gold pulled out.

The Twin Hills deposits are estimated to contain 6.9 million tonnes at an average grade of 2.8 g/t gold for 633,000 ounces of contained gold.

The project is centred on the 309 and Lone Sister gold deposits, located 7km apart, and was mined by BMA Gold (which went into administration in 2007).

GBM considers the potential depth extensions and strike repetition of both the 309 and Lone Sister deposits have not been adequately tested.

The interest is certainly hotting up again in the Charters Towers region and all eyes continue to focus on what more the region can produce. Boadicea continues to keep a keen eye out for good tenements in highly prospective areas.