An independent assessment of the Nevera prospect at Gold Anomaly’s flagship Crater Mountain project in the Papua New Guinea highlands has confirmed the gold deposit hosts three distinct zones of mineralization. Recent drilling has identified a large ‘mixing zone’ of base metal sulphide mineralization that extends for 750 metres along strike.
The mineralization is deposited predominantly as veins, stockworks and breccia matrix similar to other Pacific Rim sites including Hidden Valley and Wafi in Papua New Guinea’s Morobe Goldfield.
19 drill holes within the new mixing zone have revealed an average gold grade for 801 x 4 metre composites of 0.7 grams/tonne, making the exploration potential for Nevera’s main zone between 100 to 200 million tonnes @ 0.5 to 1 gram/tonne gold for contained gold of between 2 and 4 million ounces.
Gold Anomaly’s exploration director Peter Macnab says a high grade mineralization zone and porphyry copper-gold zone have also been identified.
The widest intersection of strongly anomalous copper and gold values in one of the drill holes is 124 metres from 704 metres down-hole to 828 metres, with average values over this interval of 900ppm copper and 0.38 grams/tonne gold.
“Petrological and mineralogical studies revealed earlier this month verify and highlight the presence of strong porphyry copper-gold mineralization underlying the northern end of the Nevera prospect,” says Peter Macnab.
The Crater Mountain project takes in three exploration licences in the PNG Highlands, about 50km southwest of Goroka which is the regional centre for the Eastern Highlands province. It is a joint venture between Gold Anomaly and London-based Triple Plate Junction.