The National, Tuesday, May 3, 2011
AUSTRALIAN miner Gold Anomaly Ltd (GAL) is pleased to announce excellent results from its second drill hole at the Nevera prospect within its flagship Crater Mountain gold project in Western.
It was the eastern most drill hole to date in the main zone, Anomaly said in a statement.
Hole NEV 019 intersected a section of 215m at 1.46 g/t Au from 181m.
Anomaly’s exploration director Peter Macnab commented saying “drilling results to date continue to impress, and support the possibility that a multimillion ounce gold deposit exists at Crater Mountain.
“The upside of the project is tremendous, given that we have just started exploring the area and have currently drill tested less than 10% of the anomalous gold zone at the tenement,” Macnab.
Executive chairman Greg Starr added: “We continue to be encouraged by the very positive drilling results at Crater Mountain.
“The sheer length of mineralisation encountered within our drilling is consistent with results from previous owners BHP (and others), and back up their assessment that the project is a tier-1 (best prospectivity) asset.
“These results again highlight the consistent and continuous results potential of the project, reinforcing our view that Crater Mountain will ultimately be shown to host a significant, high tonnage, low grade gold deposit. In light of these very promising results, a follow up drilling programme incorporating a number of deeper holes targeting the interpreted feeder zone is planned for the second half of 2011,” he said.
GAL said based on the results to date and the experience of Macnab, the company’s flagship project is the Crater Mountain gold project which has the potential to become a multi-million ounce gold deposit.
This potential should be considered recognising that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the determination of a mineral resource.