Gold Anomaly Limited (ASX:GOA) Petrology Confirms Porphry Copper-Gold at Crater Mountain

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Sydney, Australia, Nov 8, 2012 - (ABN Newswire) - Three distinct zones of mineralisation now identified at Nevera - gold mixing zone, high grade zone, porphyry cu-au zone.

- NEV 033 drill hole peripheral to major porphyry copper-gold system

- Petrological and mineralogical study verifies and highlights the presence of strong porphyry copper-gold mineralisation underlying the northern end of the Nevera Prospect

- Plans for detailed airborne geophysics underway

Gold Anomaly (ASX:GOA.AX - News) has received a final report on the petrology and mineralogy of drill core from hole NEV033 at the Nevera Prospect at the flagship Crater Mountain project, Papua New Guinea (PNG). The report by Mr Anthony Coote of Applied Petrologic Services & Research in New Zealand ("APSAR"), includes a detailed discussion of his findings which confirm and highlight the drill hole's proximity to a nearby major porphyry copper-gold system. This confirms that the Nevera prospect has three distinct geological zones of potential; the Mixing Zone, the High grade zone and now the copper-gold porphyry zone.

Gold Anomaly's final drill hole of its last drill program, NEV033, was a deep hole collared down-slope from NEV020, with the distinction of being the first drill hole since the initial BHP drilling program sited specifically to target porphyry copper-gold.

Based on the identification in drill core of minerals that are characteristic of the broad propylitic halos that surround porphyry cu - au deposits in a number of widely spaced drill holes, an area at least 800m long by 400m wide lying at depth under the northern end of the prospect ridge is interpreted as being proximal to a porphyry Cu - Au system.

NEV033 was sited and oriented to test this interpretation, its location based particularly on the presence of strong coarse phyllic alteration in the lower part of drill hole NEV020 which is located higher up the slope from the NEV033 collar, to test for potential porphyry coppergold mineralisation at depth; strong phyllic alteration are commonly found to overlie deep buried porphyry deposits.

NEV033 was planned to reach 1,100m depth, however deflection of the drill stem and consequent tightening of the rods caused the hole to be terminated at 984m.

The widest intersection of strongly anomalous copper and gold values in NEV033 is 124m from 704m down-hole to 828m; average values over this interval are 900 ppm Cu and 0.38 g/t Au.

More details associated with Dr Cootes Report can be found in the appendix (refer to link below).

View the complete Gold Anomaly announcement including Tables, Figures and Appendix at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-705342.pdf

About Gold Anomaly Limited:

Gold Anomaly Limited (ASX:GOA.AX - News) is an ASX-listed junior company focussed on exploration and pre-development projects in Papua New Guinea. Based on the results to date and the experience of Peter Macnab, Gold Anomaly's Director of Exploration, the company's flagship project is the Crater Mountain gold project which has the potential to become a multi-million ounce gold deposit. This potential should be considered recognising that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Contact:

 
Gold Anomaly Limited
T: +61-2-9241-4224
F: +61-2-9252-2335
WWW: www.goldanomaly.com.au
 

Source:

Gold Anomaly Limited

Copyright (C) 2012 ABN Newswire. All rights reserved.

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