PAPUA NEW GUINEA - Gold Anomaly intersects best copper zone

Gold Anomaly has intersected its best copper zone to date at the Nevera prospect within the flagship Crater Mountain copper gold project in the Eastern Highlands. The strongest copper-gold mineralization is within a 124 metre interval from 704 metres to 828 metres within the third deep drill hole at Nevera.

It contained strongly anomalous copper and gold values in the last 280 metres, with the copper value average of 124 metres @ 0.09% starting with 18 metres @ 0.126%. Accompanying gold values for the interval average 0.38 grams/tonne gold, starting with 24 metres @ 0.76 grams/tonne gold including 8 metres @ 1 gram/tonne gold and 6 metres @ 1.02 grams/tonne gold.

Gold Anomaly says it also encountered the first accompanying anomalous molybdenum values in the bottom section of the hole. The company says the strong copper and gold mineralization over such a wide interval is a significant indication Gold Anomaly is closer to the porphyry copper-gold source.

Gold Anomaly’s exploration director Peter Macnab says, “The result of 280 metres of porphyry copper-gold style mineralization is the largest intersection of its type in the 9888 metres of drilling undertaken at Crater Mountain to date. The geological signs are very strong that we are zeroing in on a large porphyry copper-gold system at depth. I believe this hole has drilled through a mineralized arm radiating from the source porphyry.”

The core will now be subject to a detailed petrological study, which along with similar studies of core from other holes, will help to determine the direction of heat flow and the location of the source of the mineralization in the underlying porphyry system.

The third hole was drilled some distance from the anomalous surface gold, silver and base metals the company has been testing for porphyry copper-gold mineralization at depth. Its features, including strong phyllic and propylitic alteration, are characteristic of a setting peripheral to a porphyry copper-gold system. The high levels of molybdenum and anomalous copper along with low lead and zinc values are similar traits to the world-class Wafi-Golpu copper, gold and molybdenum resource.

www.goldanomaly.com.au