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Gold Mountain Ltd.
Summary
| Project: | Wabag | |
|---|---|---|
| Deposit: | Crown Ridge | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 7/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-7-2018: Gold Mountain Ltd. announces an Exploration/Drilling Update report for its Crown Ridge deposit at the Wabag project. Drilling results incl. 1.0m @ 0.66g/t Au from 77m. Gold Mountain Limited (“GMN”) hereby provides an update on the progress of i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Doug Smith (Independent) | |
| ABSTRACT: | Gold Mountain Limited (“GMN”) hereby provides an update on the progress of its mineral exploration programs on the Crown Ridge prospect in Enga Province, Papua New Guinea (Figure 1). GMN has completed a diamond drilling program of 19 drillholes totalling 3761.8m, drilled between 14 October 2017 and 10 June 2018 (Table 1, Figure 2). The drilling targeted shallow conglomerate-hosted free gold-platinum mineralisation (Target 1) and highgrade gold mineralisation hosted by structurally controlled quartz-pyrite veins (Target 2). The Target 1 drillholes were undertaken in conjunction with bulk sampling pits (Table 2) and aimed to define a Mineral Resource for the shallow conglomerate material. The drillholes intersected coarse multi-lithic conglomerate, with minor sandstone lenses, from surface down to a maximum downhole depth of 116.9m. This unit contains free gold and platinum that is readily amenable to gravity processing. Basement rock consisted primarily of olivine basalt and minor andesite and mafic intrusive rocks. Narrow zones of brecciation and carbonate veining were logged in most drillholes, but the anticipated quartz-pyrite veins were rarely seen. Drill core intervals sampled for assaying, as at 30 June 2018, are listed in Table 3. For drillholes CRD001 and CRD005, half core samples were dispatched to ITS (PNG) laboratories in Lae for 50g fire assays for gold (ITS method FA50) and multi-element assays by ICP (ITS methods 4A/OE & 4A/MS). For drillhole CRD004, whole core samples were dispatched to ALS laboratories in Perth for Leachwell cyanide gold assaying, with 50g fire assay gold values determined on the leach residues. To save on the high cost of air freight, samples from other drillholes are being despatched by road to port in PNG and then ship | |
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