Gold Anomaly: Positive results

GOLD Anomaly has announced positive results from initial petrological studies completed on a sample of core from its first 1,000m plus hole, targeting a possible feeder system at depth at the Nevera prospect at Crater Mountain tenement in Eastern Highlands province.
The studies indicated that the intrusive intersected by hole NEV027 was a porphyry and bears all the hallmarks of a typical porphyry system, which were responsible for some of the largest copper gold deposits in PNG and the world.
The petrological analysis indicates that the intrusive exhibits strong phyllic alteration, which had overprinted an earlier potassic alteration event.
Both of these styles of alteration were associated with major porphyry deposits such as Xstrata’s Freida River and Newcrest’s Wafi Golpu.
Commenting on the study, executive chairman Greg Starr said the past month had seen great progress made at Crater Mountain, capped off by our maiden resource of 790,000oz gold at Nevera.

“The study provides further confidence in our belief that Crater Mountain ultimately hosts a much larger gold deposit,” he said