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10 Oct 2011 10:12
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10 October 2011
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Triple Plate Junction Plc
("TPJ" or the "Company")
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Project Update - Crater Mountain
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On 10 October 2011, Gold Anomaly Limited (ASX: GOA), the Company's joint venture partner in the Crater Mountain project, announced an update including results for drill hole NEV024, which suggests the potential existence of a copper bearing porphyry intrusive at depth.
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That announcement is reproduced in full below. TPJ holds an 18.9% interest in the Crater Mountain project.
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For further information, please contact:
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Triple Plate Junction Plc +44 (0) 7775 693 237
Fraser McGee
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Daniel Stewart & Company plc +44 (0) 20 7776 6550
Antony Legge / Oliver Rigby
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Financial Dynamics +44 (0) 20 7831 3113
Ben Brewerton / Oliver Winters
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This announcement is also available on the Company's web site: www.tpjunction.com
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10th October 2011
Company Announcements Office
Australian Securities Exchange
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CRATER MOUNTAIN PROJECT UPDATE, PNG
Drilling intersects highly anomalous gold, silver and base metal mineralisation
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Gold Anomaly (ASX: GOA) is pleased to provide an update on the Company's flagship Crater Mountain gold project in Papua New Guinea including results for drill hole NEV024.
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The NEV024 hole was designed to test the mineralised zone below NEV018 and NEV019 which intersected 286 metres at 0.82 g/t Au and 215 metres at 1.46 g/t Au respectively. Further drill holes will explore for the possible deeper feeder zone that is thought responsible for the widespread mineralisation and alteration seen in previous drilling.
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NEV024 reached a depth of 642 metres, approximately 150 metres below NEV018 (previously the deepest hole in the area), and intersected vein mineralisation associated with gold, silver and base metal mineralisation, which is a different style of mineralisation to that observed in NEV018 and NEV019 and suggests the potential existence of a copper bearing porphyry intrusive at depth.
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NEV024 intersected a wide envelope of gold mineralisation at an average grade of 0.47 g/t over 160 metres from 272 metres, thought to be part of the main mixing zone mineralisation, and a series of gold-bearing base metal veins which include the highest base metal concentrations reported so far at Nevera prospect. These veins are thought to be signs of a deeper feeder zone associated with a major intrusive. Key intercepts include:
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Table 1 - NEV024 results for gold
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Sample length (metres) | Gold grade (g/t) | Intersection (depth, metres) |
6 | 0.52 | 14-20 |
4 | 0.54 | 116-120 |
50 | 0.59 | 272-322 |
26 | 0.32 | 342-368 |
6 | 2.28 | 380-386 |
16 | 0.95 | 416-432 |
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Table 2 - NEV024 results for gold and base metal mineralisation
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Sample length (metres) | Gold grade (g/t) | Silver grade (g/t) | Copper grade (%) | Lead grade (%) | Zinc grade (%) | Intersection (depth, metres) |
8* | 1.77 | 30.12 | 0.22 | 0.17 | 0.25 | 292-300 |
2 | 4.02 | 41.2 | 0.06 | 1.37 | 2.13 | 382-384 |
6** | 0.35 | 45.8 | 0.15 | 0.23 | 0.28 | 440-446 |
2 | 0.19 | 10.3 | 0.08 | 0.31 | 0.55 | 484-486 |
2 | 0.18 | 12.4 | 0.06 | 0.42 | 0.42 | 508-510 |
2 | 0.16 | 9.7 | 0.02 | 0.30 | 1.15 | 544-546 |
*includes 2m @ 2.68g/t Au, 33.3g/t Ag, 0.66% Cu, 0.39% Pb, 0.87% Zn | ||||||
**includes 2m @ 0.31g/t Au, 71.0g/t Ag, 0.3% Cu, 0.29% Pb, 0.30% Zn | ||||||
The company commenced a 10,000-metre drilling program in July 2011 to further define the extent of mineralisation at Crater Mountain's Nevera prospect. Drill holes were designed to test below the main zone, which is approximately 600 metres long and 150 metres wide and open along strike (NEV024 and NEV027), and to test the strike extent to the main zone (NEV025 and 028).
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A plan showing drilling at the Nevera prospect is shown in Figure 1 and a cross section in Figure 2. Hole parameters are included in Table 1 at the end of this release.
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Anomalous copper mineralisation was intersected in chalcopyrite bearing veins (see plate 1) from a down hole depth of 290 metres. Several narrow zones of copper mineralisation were intersected with some of the highest copper intercepts recorded to date in the Nevera prospect. Results include:
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NEV024 results for copper
Sample length (metres) | Copper grade (%) | Intersection (depth, metres) |
8 | 0.29 | 288-296* |
4 | 0.21 | 440-444 |
4 | 0.17 | 564-568 |
*includes 2m @ 0.66% Cu
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More drilling results are anticipated in October 2011. Samples from hole NEV025 are en-route to the laboratory at Townsville, while samples from NEV026 are undergoing sample preparation in Lae. Holes NEV027 and NEV028 are currently at depths of 421 metres and 455 metres respectively. NEV027 has a planned depth of more than 1,000 metres and is intended to test for mineralisation at depth beneath holes NEV018, 019 and 024, while NEV028 and the proposed hole NEV029 are step out holes from NEV021 designed to test the strike extent of the main zone to the southwest.
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Further regional exploration at Crater Mountain will begin in late October at the Nimi prospect and Awanita prospect, and a regional reconnaissance program has been completed at the Bogia prospect in Madang Province with initial results expected in late October.
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Nevera Prospect, drill hole parameters
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Hole No | Easting | Northing | Dip | RL (m) | Azim (magnetic) | Depth |
NEV024 | 288,767 | 9,281,181 | -55 | 1,961 | 245 | 642.4 |
NEV025 | 288,079 | 9,280,957 | -55 | 2,122 | 135 | 612.6 |
NEV026 | 287,982 | 9,281,090 | -45 | 2,050 | 145 | 306.0 |
All drill hole surveys completed using a DGPS
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All main zone drill results
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Hole* | Depth | Intercept length | Grade (COG 0.2g/t) | |
NEV | From m | To m | Length m | Au grade g/t |
2 | 201 | 340 | 139 | 1.58 |
5 | 94 | 251 | 157 | 1.36 |
8 | 26 | 392 | 366 | 0.88 |
Inc: | 200 | 378 | 178 | 1.3 |
10 | 301 | 441 | 140.6 | 0.57 |
11 | 144 | 349 | 205 | 0.86 |
18 | 20 | 306 | 286 | 0.82 |
Inc: | 224 | 306 | 82 | 1.62 |
19 | 181 | 396 | 215 | 1.46 |
21 | 198 | 442 | 244 | 0.52 |
24* | 272 | 432 | 160 | 0.47 |
Results consistent with historic long intercepts at Nevera
Β§ (Using a 0.20 g/t Au COG with 12m of internal dilution)
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For further information regarding Gold Anomaly please contact:
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Pat Smith | Greg Starr |
PNG Exploration and Country Manager | Executive Chairman |
P +675 532 1994 | P +61 2 9241 4224 |
For media and investor relations enquires, contact | |
Robert Williams/ Ashley Rambukwella | |
FCR | |
P +61 2 8264 1003/ +61 2 8264 1004 | |
or vistit the GOA website www.goldanomaly.com.au | |
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The information contained in this report relating to exploration results at Gold Anomaly's Crater Mountain project is based on information compiled by Mr Pat Smith MSc. B.Sc. (Hons), an employee of Gold Anomaly Limited. Mr Smith is a member of the Australian Institute of Mining and Metallurgy and has the relevant experience in relation to the mineralisation being reported upon to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Smith consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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