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Project Update - Crater Mountain

13 Sep 2011 13:16

RNS Number : 1529O
Triple Plate Junction Plc
13 September 2011
 



13 September 2011

 

Triple Plate Junction Plc

("TPJ" or the "Company")

 

Project Update - Crater Mountain

 

On 13 September 2011, Gold Anomaly Limited (ASX: GOA), the Company's joint venture partner in the Crater Mountain project, announced that a rig capable of drilling ~1000 metres depth has commenced drilling hole NEV027. NEV027 will test at least 250m deeper than any previous drilling at the prospect. The hole is anticipated to be completed in mid to late October, with assay results expected a month later.

 

That announcement is reproduced in full below. TPJ holds an 18.9% interest in the Crater Mountain project.

 

CEO Fraser McGee commented: "We are very pleased that this important step in the drill programme has now been made and we look forward seeing the results."

 

For further information, please contact:

 

Triple Plate Junction Plc +44 (0) 7775 693 237

Fraser McGee

 

Daniel Stewart & Company plc +44 (0) 20 7776 6550

Antony Legge / Oliver Rigby

 

Financial Dynamics +44 (0) 20 7831 3113

Ben Brewerton / Oliver Winters

 

This announcement is also available on the Company's web site: www.tpjunction.com

 

 

 

13 September 2011

 

Company Announcements Office

Australian Securities Exchange

 

CRATER MOUNTAIN PROJECT UPDATE, PNG

Deep drill rig commences drilling

Latest hole NEV027 targeting prized 'deep feeder zone' at Nevera

 

 

Gold Anomaly (ASX: GOA) is pleased to provide an update on the Company's flagship Crater Mountain gold project, PNG.

 

Crater Mountain is shaping up as the next significant gold discovery in the nation. To date, drilling has focused on the Nevera prospect, where extensive gold mineralisation has been consistently encountered within the Main Zone, a 600m long by 150m wide zone of anomalous Au, Ag, Cu, Pb, Zn and As mineralisation, which remains open in all directions.

 

Gold Anomaly commenced its latest 10,000m drilling program in July, with the aim of further delineating the extent of the Main Zone and exploring for the possible large deep intrusive that is though responsible for the widespread mineralisation and alteration seen in previous drilling. To date, similarities to mineralisation seen at both Newcrest Morobe Gold's Hidden Valley and Barrick's Waruwari (at Porgera) deposits have been observed at Crater.

 

To that end, the Company is pleased to announce that a rig capable of drilling ~1000 metres depth has commenced drilling hole NEV027.

 

NEV027 is designed to drill below the 1,200m RL, and will test at least 250mdeeper than any previous drilling at the prospect. The hole is anticipated to be completed in mid to late October, with assay results expected a month later.

 

The first two holes of the current campaign, NEV024 and NEV025, have now been completed, reaching depths of 642m and 612m respectively. These holes targeted the Main zone and intersected a similar style of mineralisation as that seen in NEV018 and NEV019, with strong base metal carbonate veining continuing to the base of each hole.

 

NEV024 core has now been cut and sampled, and is en-route to the laboratory in Townsville and samples from NEV025 are due out from later this week. Assay results are expected in early October.

 

NEV026 has also commenced drilling, targeting the Artisanal Zone, where a recent hole (NEV022) intersected 'bonanza' grades including 2m @ 98 g/t Au.

 

For further information regarding Gold Anomaly please contact:

 

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

FCR

P +61 2 8264 1003

or vistit the GOA website www.goldanomaly.com.au

 

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.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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