GMN reports new results at Mongae Creek in PNG

Gold Mountain Limited has just announced an exploration update and pleasing results for its Wabag Project in Papua New Guinea. On April 14, 2019, a step-out soil auger programme was completed at Mongae Creek. The aim of this programme was to extend the soil grid to the North-West, to close Cu-in-soil anomalism identified by a soil programme conducted in February 2019.

An additional 149 soil samples were collected from the prospect. These samples were transported Crown Ridge for drying and analysing. The programme identified a significant Cu-in-soil anomaly 1,200 m northwest of drill hole MCD002. The anomaly is over 500 m wide and 500 m long, with a spot high of 0.71 per cent Cu with five adjacent soil samples greater than 0.25 per cent Cu. These assay results indicate there is a potential porphyry deposit present at Mongae Creek.

Since April 21 2019, approximately 600 m of trenching has commenced at Mongae Creek with the work expecting to be completed by mid-May. The aim is to expose where the high Cu-in-soil anomalies have been defined, to obtain data and assist with drill hole targeting.  Future drilling will most likely be concentrated on this newly discovered high- grade copper in soil anomaly. Drilling of the Mongae Creek prospect will commence in the second half of 2019.

Director of Exploration Doug Smith, has said “the presence of this zone of higher copper contents suggests that we did not drill-test the core of the system and the best is yet to come.” 

Please find the announcement attached