Great Northern Minerals Identifies Two New Drill Targets at Iron Butte

Two New Targets Expand Iron Butte’s Mineralised Footprint

Great Northern Minerals Limited (ASX:GNM) has uncovered two substantial new drill targets at its Iron Butte Gold-Silver Project in Nevada, potentially extending the known mineralised system beyond the central zone that previously delivered notable intercepts such as 21.3m at 1.5 g/t Au and 52.8 g/t Ag from 28.9m. These targets, named Iron Butte North and Iron Butte East, are defined by coincident gold- and silver-in-soil anomalies over areas of 400m by 250m and 200m by 200m respectively, where no prior drilling has occurred.

Iron Butte North, immediately along strike to the north-northeast of the central mineralisation, features soil assays up to 880 ppb gold and 3.9 ppm silver, with rock chip samples returning up to 8.3 g/t gold and over 100 g/t silver. Similarly, Iron Butte East, about 1km east-northeast of the main zone, shows elevated soil gold and silver values reaching 70 ppb and 1.0 ppm respectively, supported by rock assays up to 1.7 g/t gold and 160 g/t silver.

Geological and Geochemical Parallels Strengthen Targets

Both new targets exhibit the same geological setting, alteration styles, and geochemical signatures as the central Iron Butte zone. Iron Butte North is characterised by strong silicification and clay alteration typical of low sulphidation epithermal systems, while Iron Butte East’s anomalies are hosted in volcanic rocks near their contact with sediments, mirroring the central zone’s geology. This continuity suggests the mineralisation at these targets is part of the same near-surface oxide system already confirmed at Iron Butte.

A recent field visit by GNM in April 2026 reinforced these findings, with eight rock samples collected exhibiting classic epithermal textures such as bladed and colloform banded silica. All samples returned elevated gold and silver, including assays of 1.66 g/t Au and 65.9 g/t Ag, confirming the deposit’s epithermal nature and extensive surface mineralisation. This bodes well for mining economics, as the deposit’s low strip ratio could reduce operational costs.

Integration into Drilling Strategy and Resource Estimation

The identification of these two new drill targets comes as GNM advances towards defining a maiden Inferred JORC-compliant Mineral Resource at Iron Butte. The company is currently reprocessing geophysical data to refine drill targeting and expects these new zones to rank highly in upcoming drilling campaigns. The verification of historical drill collar locations during the field visit also supports the accuracy of future resource modelling.

This expansion of the project’s footprint complements GNM’s broader US exploration activities, including recent developments at the Catalyst Ridge Project, where the company has been mapping epithermal vein systems and planning drilling to test dual commodity potential. The Iron Butte targets add another layer of depth to GNM’s Nevada portfolio, highlighting the company’s growing presence in prolific gold corridors near the Battle Mountain-Eureka Trend.