GOLD Mountain Limited intends to undertake a diamond drilling program at the Wabag area of its flagship Crown Ridge project in Enga Province of the Highlands Region. The drilling is expected to begin in the current quarter and will test multiple gold targets with the aim of completing a maiden JORC resource estimate.
There will be three angled holes totalling around 500 metres in length drilled in high-grade gold targets in quartz veins adjacent to the rim of the postulated volcanic crater.
Nine vertical drill holes totalling around 500 metres in length will be drilled in extensions of free gold mineralisation beneath the area of bulk sampling pits.
The company says deeper drilling targets may be added to the program if early results warrant it. It anticipates mobilisation of the drill rigs and crews to site in August.
Gold Mountain director of exploration Doug Smith said, “The planned drilling program will be the next in a series of coordinated investigations to test the potential for a major gold deposit at Crown Ridge.
“Previous exploration results since commencement of the company’s operations at Crown Ridge in 2014, indicate a significant gold target hosted by high-grade quartz veins near the rim of the postulated volcanic crater and this will be one of the targets for the upcoming drilling program. Diamond drilling will also test the area of the bulk sampling pits for depth extensions of the near surface mineralisation.
“At this stage, we are looking at shallow diamond drill holes for the conglomerate mineralisation. However, deeper holes will be considered if the early results show continuation of the prospective rocks below the planned drill hole depths.
“Results from these holes will provide information on the geological continuity of the coarse gold mineralisation, to enable the estimation of a maiden mineral resource at Crown Ridge.”
Earlier this year, the company extended an agreement to secure the prospective 328sqkm tenement which adjoins the Crown Ridge project. The exclusivity period was to originally end on May 19 but this was extended to July 15.
The Crown Ridge, Wabag tenements occur in the New Guinea Thrust Belt, arguably the richest geological gold zone in PNG.