Greenpower enters option to acquire formergold production assets...

Greenpower enters option to acquire formergold production assets in Qld Highlights•
The Golden Ant Project includes the historic Camel Creek, Golden Cup & Big Rush Gold Mines.• Combined previous open pit gold production of in excess of 100,000 ounces at >2g/t Au.• Previous gold production via heap leaching.• Good exploration potential with no recent drilling completed.• Located on 11 granted Mining Leases covering an area of 9.3km2.• Third party toll treatment facilities at Charters Towers and Mt Garnet within trucking distance.Greenpower Energy Limited (ASX: GPP, Greenpower, the Company) is pleased to advise the market ithas entered into an option agreement with Q-Generate Pty Ltd to acquire the former producing goldmines of Camel Creek, Golden Cup and Big Rush in Northern Queensland (Figure 1). The mines werelast operated in the mid-1990’s and between them produced in excess of 100,0000 ounces of gold atan average grade of over 2g/t Au (Table 1). The Camel Creek and Golden Cup mines are adjacent toGPP’s Lincoln Springs Copper-Cobalt Project whilst Big Rush lies 100km to the south west. All of themines were in mineralisation when mining stopped in the 1990’s when the gold price was below $400US an ounce compared with today’s gold price of greater than $1,200 US an ounce.The Golden Ant Project consists of 11 granted Mining Leases (Table 2) and GPP has recently appliedfor further ground surrounding the Big Rush area (EPM 27283). The new EPM at Big Rush covers anarea of 301km2 which compliments the significant land position of 780km2 the Company already holdsat the Lincoln Springs Project which is adjacent to the Camel Creek and Golden Cup Mines.