Gold Anomaly Ltd.

Published : May 18th, 2007

High Grade Gold Intersections-Gameta, Fergusson Island PNG

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Company Announcement
 

Gold Aura Limited (GOA) today announced assay results for diamond core hole GDH014 from its resource infill drilling program at Gameta located on Fergusson Island in Papua New Guinea.

 

KEY POINTS


Ü   Diamond core hole GDH014 has intersected a number of gold anomalous horizons with two significant high grade intervals being;


2.79 metres (57.11 to 59.90 metres) at 35.3 g/t gold and 28.6 g/t silver

1.94 metres (23.10 to 25.04 metres) at 12.2 g/t Au and 14.1 g/t silver


Ü   This is considered to be a significant result as it confirms the presence of high grade gold mineralisation at Gameta as encountered in previous reverse circulation (RC) drilling and surface channel sampling.

 

DETAILS

Diamond core hole GDH014 was drilled on Section 990 SE some 52 metres south west from hole GDH013/013A where a significant intersection of 65.0 metres at 1.22 g/t gold was recently obtained.

 

Significant intersections encountered in GDH014 are as follows (no gold cut-off applied);

 

17.0m (9.0 to 27.0m) at 2.40 g/t gold, 2.8 g/t silver and 0.23% arsenic

[Including 1.94m (23.10 to 25.04m) at 12.2 g/t gold, 14.1 g/t silver and 0.71% arsenic]

 

1.0m (46.0 to 47.0m) at 1.69 g/t gold, 2.3 g/t silver and 0.12% arsenic

 

2.79m (57.11 to 59.90m) at 35.3 g/t gold, 28.6 g/t  silver and 0.31 % arsenic

 

2.0m (95.6 to 97.6m) at 1.11g/t gold and 0.14 g/t silver




LOCATION OF WAPOLU AND GAMETA PROJECTS

Click Here to view Gameta Drill Hole Location Plan
 

Other Drill Holes

Potential gold mineralised intersections have been noted in some of the other holes that have been completed (GDH015-019).  Of particular interest are holes GDH017 and GHD019 drilled on Section 1095 SE, located 105 metres to the south east of Section 990 SE.  Assay results are awaited.

 

Gold Mineralisation

Gold mineralisation at Gameta has previously been considered to be associated mainly with, and developed within, the dome bounding detachment faults. However, the current diamond coring program has continued to show that the detachment fault zones are only up to several metres thick and relatively limited in volume and that the majority of the gold mineralisation is developed within the metamorphic basement rocks. In particular, the mineralised sections are associated with altered and sulphide veined volcanic dyke swarms.  This has significantly increased the potential size of the Gameta resource.

 

Ongoing Program

The planned infill drilling program at Gameta will involve 60 holes totalling at least 4,000 metres designed to upgrade the gold resource to JORC indicated and measured status and increase the resource gold grade. To date, 9 holes for 1,090.9 metres have been completed. It is hoped that the Gameta program will continue to define high grade gold zones such as encountered in GHD014 and continue to increase the resource size. It is also expected that this program will lead to a full feasibility study into possible commercial gold production at Gameta. 

 

The Fergusson Island project is a GOA operated joint venture between GOA and Yamana Gold Inc., a Canadian listed company.  Yamana is a non-contributing partner which is currently diluting its interest down from an original 40%.

 

ABOUT GOLD AURA LIMITED

 

Gold Aura’s principal activity is the global exploration for world class mineral resources. Its current focus is directed towards an accelerated follow-up drilling program of the newly discovered polymetallic mineralisation at Croydon and the resource infill drilling program at Gameta. Gold Aura is also continuing with exploration on its gold projects in Kazakhstan, China and Brazil.

 

For further information please contact;

Ken Chapple,

Managing Director

            +61 7 3833 3833  Mb 0418 758 301

 

or visit Gold Aura’s website at www.goldaura.com.au.

 

The information contained in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information complied by Mr Ken Chapple, Managing Director of Gold Aura Limited.  Mr Chapple is a Member of the Australasian 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 Chapple consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

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Gold Anomaly Ltd.

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CODE : GOA.AX
ISIN : AU000000GOA1
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Gold Anomaly is a gold exploration company based in Australia.

Gold Anomaly holds various exploration projects in Australia.

Its main asset in development is SÃO CHICO in Brazil and its main exploration properties are FERGUSSON ISLAND and CRATER MOUNTAIN in Papua New Guinea and CROYDON in Australia.

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