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Gold Mountain Ltd.
Summary
| Project: | Wabag | |
|---|---|---|
| Deposit: | Monoyal | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Molybdenum-Gold-Silver-Sulphur-Zinc | |
| Date: | 2/28/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-2-2020: Gold Mountain Ltd. announces an Exploration/Drilling Update report for its Monoyal deposit at the Wabag project. Drilling results incl. 124.00m @ 0.120% Cu, 105ppm Mo, 0.06g/t Au, 0.97g/t Ag, 1.49% S, 122ppm Zn from 125.00m. Gold Mountain Limit | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Patrick Smith (Independent) | |
| ABSTRACT: | Gold Mountain Limited (ASX: GMN) is pleased to provide an update in relation to its ongoing targeted diamond drilling program at the Company’s flagship Wabag Project (Figure 1). Assay results from MCD004 have now been received, with the hole intersecting a broad, 124 m zone of >1,000 ppm Cu and >100 ppm Mo from a down-hole depth of 125 m. Contained within this intercept are narrower high-grade zones. The mineralisation intersected in MCD004 is hosted in a fractured tonalite. The higher-grade mineralised zone (8.4 m @ 0.23 % Cu, 689 ppm Mo and 0.40 g/tAu) was associated with strong brecciation, veining and clay alteration of the tonalite (Figure 1). As with MCD003, MCD004 is interpreted to be peripheral to a main zone of mineralisation. There is a definite metal zonation in the hole, which is signified by the fact that elevated Cu mineralisation occurs in the top 250 m of the hole. From 260 m to 450 m (EOH) the Cu values decrease; however, the Mo values are still relatively high, i.e. the bottom part of MCD004, from 261m to 450m (EOH) averages 393 ppm Cu, but has a higher Mo content than the top 250m of the hole, with the last 189m of MCD004 assaying 120 ppm Mo. Drill results for MCD004 are summarised in Table 1 and a down-hole section of MCD004 showing the Cu and Mo values is presented in Figure 2. A drill hole location map is included as Figure 3. | |
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