Gold Anomaly Limited (ASX:GOA) Intersected Extensive New Gold Mineralised Zone at Crater Mountain

Sydney, Feb 13, 2012 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) is pleased to announce the results for its latest drill hole NEV031.

NEV031 was drilled to test the northeast extension of the mixing zone mineralisation where an inferred resource of 24Mt @ 1.0 g/t (790,000 ozs) Au has been delineated. NEV031 lies 200m northeast of NEV019. A drill hole location map is included as Figure 1 (see link at the bottom of the link).

The hole intersected a number of zones of greater than 1.0 g/t Au, with the best results including 24m @ 1.30g/t Au, 10m @ 1.23g/t Au, 10m @ 1.10g/t Au, 5m @1.38g/t Au, 4m @1.57g/t and 4m @ 1.43 g/t Au. These results were within broader envelopes of significant mineralisation which include 228m @ 0.57 g/t Au & 0.07% Cu and 32m @ 0.73 g/t Au & 0.08 % Cu. A complete list of results is included in Table 1 (see link at the bottom of the link).

Exploration Director Mr Peter Macnab commented:

"NEV031 is the most north-easterly hole drilled to date, intersecting intrusive rocks and basement shales adjacent to volcanics of the Nevera Igneous Complex. It has returned a different mineralisation signature to earlier drill holes, with assay results underlining the potential value of copper along with gold in the ultimate economic definition of the Prospect.

"The company has now drilled holes along 1,000m of its interpreted wide north-easterly trending mineralised corridor in the north of the Nevera Prospect, and has commenced a detailed petrographic study to determine temperature gradients, alteration patterns and mineralisation phases in order to target on-going drilling towards potential deep gold and copper sources in the magmatic roots of the hydrothermal system.

"Results to date indicate that this is a typical large and complex New Guinea Orogen mineralised hydrothermal system, with excellent potential to host a number of economic deposits within its bounds."

Executive Chairman Mr Greg Starr added:

"These results again demonstrate the tremendous potential of the Nevera Prospect and its surrounding areas.

"Out of the 13 holes drilled by Gold Anomaly, 11 holes have identified significant zones of gold mineralisation. Historically, NEV031 represents the eleventh hole to date to return grades above 0.50g/t Au over at least 95 metres, reflecting the bulk tonnage potential of Nevera. Within the 11 historical drill holes, there are numerous higher grade intersections and with NEV031 now including copper."

"While the mixing zone remains the most obvious source for defining an economic deposit, we believe we have only begun to scratch the surface at Nevera, having identified the halo to deeper and potentially more significant sources of the mineralisation not as yet identified."

The majority of +0.50g/t Au is located 100m to 150m beyond the current resource boundary. Hence, additional infill drilling to incorporate NEV031 is likely to significantly increase the current inferred resource.

New mineralisation zone identified with infill drilling planned to test for higher gold grades NEV031 intersected a predominantly feldspar porphyry at the top of the hole before passing into altered and mineralised Chim Formation sediments at the base of the hole. This hole differed significantly from previous holes drilled into the mixing zone as very little base metal sulphide - carbonate veining was encountered and quartz-pyrite veining predominated. Further differentiating NEV031 from previous holes drilled within the mixing zone, much higher levels of copper mineralisation were encountered, including eight intercepts greater than 0.2% Cu, including two grading above 0.5%. The increased copper mineralisation and its close association to elevated gold values indicate that NEV031 has encountered a different part of the overall mineralising system at Nevera. Benching results in this NE region had previously highlighted a gold/copper overprint, indicative of a NE trending gold, copper-mineralising event. This result bodes well for future exploration efforts with each new drill hole defining the mineralisation system and enabling the company to better target subsequent drill holes.

It is considered possible that there may be a higher grade gold zone between NEV019 and NEV031 if the new copper-dominated mineralised zone identified in NEV031 and the lead/ zinc-dominated mixing zone in NEV019, 200 metres distant, overlap - similar to that seen at Newcrest's Link Zone at Wafi. This will be tested with ongoing drilling.

Drilling Update

NEV030 was drilled to a final depth of 1128.1m and intersected very strongly altered Chim formation sediments and a silicified feldspar porphyry. The sediments and the porphyry were cut by quartzpyrite veining with minor chalcopyrite. Results are due by the end of February.

NEV032 was completed to a depth of 624.10m and was drilled to infill an area between NEV021 and NEV025, in order to extend the interpreted gold resource to the southwest. This hole intersected typical mixing zone style mineralisation and economic grade assays will lead to an increase in the existing resource.

For the complete announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-239530.pdf

Contact

Pat Smith PNG Exploration and Country Manager P +675-532-1994 Greg Starr Executive Chairman P +61-2-9241-4224