Gold Anomaly has received a high grade gold intercept from the latest round of drilling at its flagship Crater Mountain Gold Project. The hole intersected 46 metres @ 5.90 grams/tonne gold from 44 metres, including 2 metres @ 98.20 grams/tonne gold from 74 metres.
The hole targeted the zone beneath the artisanal mine workings on the west side of the Nevera prospect ridge, about 200 metres northwest of the Main Zone where the bulk of historical and current drilling has been focussed.
Gold Anomaly’s executive chairman Greg Starr says, “We are obviously very excited by the results, which represent our highest grade results from our maiden drill program. The discovery of this new high grade gold zone further enhances the prospects of Crater Mountain ultimately becoming the next major gold discovery in PNG.
“Whilst most of the excitement to date has arisen from drill results that point to the presence of a large bulk tonnage deposit at the Main Zone, the project will certainly benefit from the existence of supplementing a main deposit with a near-surface, high grade gold deposit, akin to the development at Barrick’s Porgera mine.
“We are awaiting results from the final hole of our maiden drilling campaign, which also targeted the artisanal mining zone.”
Gold values in the 46 metre interval include the bonanza intersection of 2 metres @ 98.20 grams/tonne (3.16 ounces/tonne) from 74 metres as well as 2 metres @ 3.79 grams/tonne from 76 metres and 4 metres @ 7.62 grams/tonne from 44 metres.
The results fit in well with the observed mining methodology previously employed by the artisanal miners who win gold by following two sets of steep mineralized fractures (orientated roughly N-S and E-W),and obtaining their main production from steeply plunging bonanza-grade shoots at the intersections of the fracture sets.
The second zone of strong gold values from 118 to 124 metres comprises three 2 metres samples of 3.97 grams/tonnes, 4.23 grams/tonne and 1.27 grams/tonne. Additional benching is being planned to further explore this zone.
The latest result enhances the prospects of the viability of a small-scale, open cut operation at the high grade gold zone, to complement the potential development of a larger operation at the Main Zone.