Gold Anomaly Limited (ASX:GOA) Intersects Highly Anomalous Gold, Silver and Base Metal Mineralisation at Crater Mountain Project, Papua New Guinea

Sydney, Oct 10, 2011 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) is pleased to provide an update on the Company's flagship Crater Mountain gold project in Papua New Guinea including results for drill hole NEV024.

The NEV024 hole was designed to test the mineralised zone below NEV018 and NEV019 which intersected 286 metres at 0.82 g/t Au and 215 metres at 1.46 g/t Au respectively. Further drill holes will explore for the possible deeper feeder zone that is thought responsible for the widespread mineralisation and alteration seen in previous drilling.

NEV024 reached a depth of 642 metres, approximately 150 metres below NEV018 (previously the deepest hole in the area), and intersected vein mineralisation associated with gold, silver and base metal mineralisation, which is a different style of mineralisation to that observed in NEV018 and NEV019 and suggests the potential existence of a copper bearing porphyry intrusive at depth.

NEV024 intersected a wide envelope of gold mineralisation at an average grade of 0.47 g/t over 160 metres from 272 metres, thought to be part of the main mixing zone mineralisation, 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. Key intercepts include:

The company commenced a 10,000-metre drilling program in July 2011 to further define the extent of mineralisation at Crater Mountain's Nevera prospect. Drill holes were designed to test below the main zone, which is approximately 600 metres long and 150 metres wide and open along strike (NEV024 and NEV027), and to test the strike extent to the main zone (NEV025 and 028).

A plan showing drilling at the Nevera prospect is shown in Figure 1 and a cross section in Figure 2 (see link at the bottom of the release). Hole parameters are included in Table 1 at the end of this release (see link at the bottom of the release).

Anomalous copper mineralisation was intersected in chalcopyrite bearing veins from a down hole depth of 290 metres. Several narrow zones of copper mineralisation were intersected with some of the highest copper intercepts recorded to date in the Nevera prospect.

More drilling results are anticipated in October 2011. Samples from hole NEV025 are en-route to the laboratory at Townsville, while samples from NEV026 are undergoing sample preparation in Lae. Holes NEV027 and NEV028 are currently at depths of 421 metres and 455 metres respectively. NEV027 has a planned depth of more than 1,000 metres and is intended to test for mineralisation at depth beneath holes NEV018, 019 and 024, while NEV028 and the proposed hole NEV029 are step out holes from NEV021 designed to test the strike extent of the main zone to the southwest.

Further regional exploration at Crater Mountain 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.

For the complete Gold Anomaly Limited announcement including tables and figures, please view:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-235913.pdf

Contact

Pat Smith PNG Exploration and Country Manager Ph: +675-532-1994 Greg Starr Executive Chairman Ph: +61-2-9241-4224 http://www.goldanomaly.com.au