Gold Mountain is feeling 1000 feet tall after trenching assay results are the highest ever seen at Wabag Project in Papua New Guinea.

These trench assay results are the highest continuous copper intersections Gold Mountain has recorded within the tenements that comprise the Wabag Project in Papua New Guinea.

The company says the best result, after having received assays from three trenches – was from MWTR008 which intersected a 52m zone of copper mineralisation assaying at 0.32% copper, including a high-grade zone of 17m at 0.53% copper and is open to extension at both ends. Pleasingly, trace gold values above detection limit to a maximum value of 0.47g/t Au were also intersected in MWTR008.

In this trench, the mineralisation is disseminated evenly throughout the exposed outcrop which is evident by the consistent copper assay values.

These highly encouraging results confirm the area is prospective for porphyry style mineralisation and increases the company’s confidence that the Kandum – Pully area (Mt Wipi prospect) could host a significant porphyry copper-gold deposit. The amount of alteration seen in trench 8 coupled with the copper results could point to a strongly mineralised porphyry intrusive at depth. It is possible that when drilled the closer a drill gets to the postulated intrusive that the intensity of alteration and the tenor of the mineralisation will increase significantly.

Gold Mountain
Location of the Kandum Prospect with respect to the modelled magnetic TMI feature, and potential source of economic copper and gold

Assay results for an additional three trenches are pending.

Best Wabag trench result yet

Gold Mountain’s (ASX:GMN) porphyry expert Phil Jones says the company has returned their best Wabag trench result at the Kandum – Pully prospect.

“This has significantly upgraded the porphyry copper potential at Mt Wipi which is defined by two strong blind aeromagnetic anomalies which have been highlighted by geological mapping, geochemical and petrological studies previously reported,” he says.

“The continuity of the mineralisation is highly encouraging and is indicative of porphyry style mineralisation potentially outside and above the interpreted porphyries identified by the magnetic inversion studies.

“Early drilling is required to test these encouraging magnetic and copper anomalies in this highly fertile area of the Central Highlands where exploration to date has shown significant copper and gold mineralisation”.

Looking ahead

Further analysis of all existing data along with the outstanding assay results will greatly assist in the development of the next targeted drilling campaign, where GMN hopes to reward all shareholders and stakeholders with significant drill results.

 

 

 

 

This article was developed in collaboration with Gold Mountain, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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