Independent Report shows 2 to 4m oz Potential in Mixing Zone
Sydney, Nov 8, 2012 AEST (ABN Newswire) - Gold Anomaly (
ASX:GOA) requested that H & S Consultants Pty Ltd (formerly Hellman & Schofield Pty Ltd), an independent geological consultancy based in Sydney, Australia, undertake an assessment of the Exploration Potential for the Nevera prospect at Crater Mountain. A previous Inferred Resource of 24Mt at 1g/t Au for 790,000 ozs for the Main Zone of the Nevera prospect was estimated by Dr Andrew Richmond using a 0.5g/t gold cut off grade. Additional drilling by Gold Anomaly has now identified a much larger gold envelope to the Inferred Resource and this envelope combined with the Inferred Resource makes up the new Exploration Target for the prospect.
The Nevera Main Zone is a low-sulphidation epithermal carbonate - base metal sulphide - gold deposit of the "mixing zone" style. Mixing zone mineralisation is deposited predominately as veins, stockworks and breccia matrix when deeply penetrating downwards circulating carbonated groundwater mixes with rising hot mineralised magmatic fluids derived from a deep intrusive source. Other Pacific Rim examples include Kelian in Indonesia and Hidden Valley and Wafi in the Morobe Goldfield of Papua New Guinea The deposit is hosted at the contact between the lavas, porphyries and breccias of the Crater Mountain Volcanic Complex and the underlying Chim Formation sediments. The deposit occurs as a broad flat lying auriferous zone straddling the contact juxtaposed with a more steeply dipping structurally developed auriferous zone, part of the Nevera Breccia Complex and Fault System.
A new wireframe representing the gold envelope has been interpreted by H&S based on the above geological principles, the diamond drilling (on 100m spaced sections) and a nominal gold cut off grade of 0.15g/t. The dimensions of this new mineral body are 750m of strike, 550m of dip and an average thickness of 150m to give an approximate volume of 60 Mm3.
19 drill holes have intersected this interpreted wireframe with an average gold grade for 801 x 4m composites of 0.7g/t.
Thus the Exploration Potential for the Main Zone at Nevera is defined as:
100 to 200Mt @ 0.5 to 1g/t Au for contained gold of 2.0-4.0 Million ozs using an average density of 2.65t/m3 and a gold cut off of 0.15g/t.
Anomalous Economic gold intersections were returned from drill holes outside the above identified Main Zone envelope, and these would be recovered during any open cut mining campaign. Further drilling with a view to converting the mixing zone mineralisation into defined resources is being planned during the Company's present exercise of consolidation and detailed evaluation of data. (The potential quantity and grade is conceptual in nature.
There has been insufficient exploration to define a Mineral Resource within the Mixing Zone and it is uncertain if further exploration will result in the determination of a Mineral Resource within the Mixing Zone.)
To view the tables charts and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-705424.pdf
Contact
Gold Anomaly Limited
T: +61-2-9241-4224
F: +61-2-9252-2335
WWW: www.goldanomaly.com.au
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