Assays from the latest two drill holes at Gold Anomaly’s flagship Crater Mountain project in Papua New Guinea have extended the zone of copper-gold mineralization at the Nevera prospect.
The company says the results provide data on the possible location of a deep hot porphyry intrusion as well as the location of the mixing zone boundary. One hole is interpreted as having grazed the northern edge of the inferred mixing zone resource, which currently contains an inferred 790,000 ounces of gold.
One hole was drilled from the north of the prospected area to a depth of 1128 metres, with its most notable assay results being 2 metres @ 3.89 grams/tonne gold from 594 metres and 2 metres @ 30.8 grams/tonne gold (essentially 1 ounce per tonne) from 898 metres.
The other hole was drilled to look for the extension of the mixing zone mineralization, with gold values in this hole lower than anticipated. Results include 2 metres @ 17.7 grams/tonne gold from 60 metres and 4 metres @ 0.65 grams/tonne gold from 96 metres.
Two new targets for drill testing have been identified - in the northwest quadrant of the area and at depth below the artisanal mining area where high grade high sulphidation quartz-pyrite-gold mineralization is extending.
Gold Anomaly’s director of exploration Peter Macnab says, “The recent examination by consultant Dr Greg Corbett from the past 12 months’ drilling at Crater Mountain has led to a greatly improved understanding of the geological framework and mineralization potential in the drilled portion of the Nevera prospect.
“The work has highlighted particularly the deep porphyry copper-gold potential underlying the untested northwest quadrant of the drilled area, as well as underlining the potential for high gold grades to persist to depth below the artisanal mine site,” he says.
Preparations have begun to recommence drilling by the end of the month, targeting both the porphyry copper-gold mineralization with an initial +1000 metre hole, and high grade gold in the roots of the artisanal mining system with two shorter holes.
Gold Anomaly says Dr Corbett has stressed the need to accelerate exploration over the remainder of the Nevera prospect and other identified prospects within the Crater Mountain tenements, and to move as quickly as possible to scout drilling in those areas.
Channel sampling and geological mapping has been undertaken on the Nimi prospect, and fieldwork is planned for the Awaunita and Masi prospects.