Crater Mt - 790,000 Ounce Inferred Gold Resource at Nevera Prospect
Sydney, Jan 27, 2012 AEST (ABN Newswire) - Gold Anomaly Ltd (
ASX:GOA) is pleased to announce the latest results from drilling at the Nevera prospect, where a 790,000 ounce inferred gold resource has been defined. Nevera is the most advanced of four prospects comprising the Crater Mountain gold project in Papua New Guinea.
Mineralisation encountered 400m west of existing resource at Crater Mountain, PNG
NEV029 intersects anomalous gold throughout the hole
- area of known gold mineralisation now increased to a strike length in excess of 800m
- anomalous copper intersected associated with gold throughout the hole
NEV029 was drilled at the south-western extent of Nevera, approximately 400m southwest of the existing resource boundary and 200m southwest of NEV028. The hole intersected anomalous gold mineralisation throughout its entire length, with multiple zones of +0.25 g/t Au intersected, the best intercept being 4m @ 0.71 g/t Au from 150m. A complete set of intercepts is included in Table 1. (see Link)
NEV029 intersected wide zones of gold grading above 0.25 g/t Au and copper mineralisation compared to NEV028. This indicates that either:
- a different mineralising system has been encountered, or;
- the mineralisation at Nevera continues past NEV028, and that NEV028 was drilled in an area that was either faulted away or disrupted by a diatreme.
Besides the anomalous gold mineralisation, NEV029 intersected anomalous copper mineralisation, with individual 2m samples assaying at over 0.20%, which is associated with the gold. Base metals such as lead and zinc, which were prevalent in many of the other holes at Nevera, are markedly lower in NEV029. There were nine, 2 metre copper intersections grading above 0.15% Cu. The copper mineralisation also occurs throughout the hole, but does seem to become more persistent with depth. Previous exploration to the west of NEV029 has demonstrated copper anomalism.
The company plans to further explore to the west of NEV029 at a later date to test the copper potential. Copper results are summarised in Table 2.
Gold Anomaly's PNG Exploration and Country Manager Pat Smith said, "The increasing extent of the anomalous gold mineralisation at Nevera is encouraging, and bodes well for defining a larger resource with further drilling.
"By intersecting anomalous gold mineralisation in NEV029, the area of known gold mineralisation has now increased to a strike length in excess of 800m and remains open in both directions."
Drilling Update
Two holes are currently being drilled at Nevera.
NEV030, the second 1000m+ deep drill hole, has now reached a depth of 958m. The hole is testing the porphyry intrusion identified by NEV027, some 200 metres below the extent of NEV027. These deep holes are intended to determine the nature and size of the porphyry, and provide information as to whether it is indeed the 'feeder zone' responsible for the gold mineralisation defined within the shallower mixing zone.
NEV032 is an infill hole between NEV025 and NEV021, and has now reached a depth of 308m.
Assays and sample preparation in Lae has been completed for NEV031 which was designed to test the Northwest extent of the mixing zone. This hole intersected a feldspar porphyry overlying altered Chim Formation sediments, with both the porphyry and the sediments cut be quartz - pyrite veining.
Samples from NEV031 have reached SGS in Townsville and results are expected by mid-February.
For the full announcement including tables please visit:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-239130.pdf
Contact
Gold Anomaly Limited
T: +61-2-9241-4224
F: +61-2-9252-2335
WWW: www.goldanomaly.com.au
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