Drilling by Gold Anomaly has intersected highly anomalous gold, silver and base metal mineralization at its flagship Crater Mountain Project. The latest hole was designed to test the mineralized zone below two other holes which intersected 286 metres at 0.82 grams/tonne gold and 215 metres at 1.46 grams/tonne.
Further drill holes will explore for the possible deeper feeder zone that is thought responsible for the widespread mineralization and alteration seen in previous drilling.
The latest hole reached a depth of 642 metres, about 150 metres below the two other holes and intersected vein mineralization associated with gold, silver and base metal mineralization, which is a different style of mineralization to that observed in the other holes and suggests the potential existence of a copper bearing porphyry intrusive at depth.
It intersected a wide envelope of gold mineralization at an average grade of 0.47 grams/tonne over 160 metres from 272 metres, thought to be part of the main mixing zone mineralization, and a series of gold-bearing base metal veins which include the highest base metal concentrations reported so far at Nevera prospect. These veins are thought to be signs of a deeper feeder zone associated with a major intrusive.
The company began a 10,000-metre drilling program in July 2011 to further define the extent of mineralization at Crater Mountain’s Nevera prospect. Drill holes were designed to test below the main zone, which is about 600 metres long and 150 metres wide and open along strike, and to test the strike extent to the main zone.
Anomalous copper mineralization was intersected in chalcopyrite bearing veins from a down hole depth of 290 metres. Several narrow zones of copper mineralization were intersected with some of the highest copper intercepts recorded to date in the Nevera prospect.
More drilling results are anticipated this month while further regional exploration will begin in late October at the Nimi prospect and Awanita prospect, and a regional reconnaissance program has been completed at the Bogia prospect in Madang Province with initial results expected in late October.