Early drilling by Queensland Mining Corporation has revealed that Mount Freda in north-west Queensland, Australia, could have over 100,000oz of gold, resulting in more investment opportunities.

Managing director Howard Renshaw told ABC News that drilling revealed additional quantities of gold ore at the site.

“If we are able to recommence gold production at this particular mine – which can be supported by some of our other gold mines within the area – to my knowledge it will be the only properly fully operational gold mine in the Cloncurry district,” Renshaw said.