Gold Mountain Limited, (ASX:GMN) has announced a planned diamond drilling program at the Company’s flagship Crown Ridge project in the Highlands Region of Papua New Guinea.
The proposed diamond drilling program will test multiple gold targets including:
- High grade gold in quartz veins adjacent to the rim of the postulated volcanic crater – three angled holes totalling around 500m in length
- Extensions of free gold mineralisation beneath the area of bulk sampling pits – nine vertical drill holes totalling around 500m in length
- Deeper drilling targets may be added to the program if early results warrant it.
GMN anticipates mobilisation of the drill rigs and crews to site during August.
Gold Mountain Director of Exploration, Doug Smith commented:
“The planned drilling program will be the next in a series of coordinated investigations to test the potential for a major gold deposit at Crown Ridge.
“Previous exploration results, reported by the Company since commencement of GMN’s operations at Crown Ridge in 2014, indicate a significant gold target hosted by high-grade quartz veins near the rim of the postulated volcanic crater and this will be one of the targets for the upcoming drilling program. Diamond drilling will also test the area of the bulk sampling pits for depth extensions of the near surface mineralisation.
“At this stage, we are looking at shallow diamond drillholes for the conglomerate mineralisation. However, deeper holes will be considered if the early results show continuation of the prospective rocks below the planned drillhole depths.
“Results from these holes will provide information on the geological continuity of the coarse gold mineralisation, to enable the estimation of a maiden Mineral Resource at Crown Ridge.”
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