Gold mountain has received assay results from three trenches which were excavated within the Kandum - Pully area (Mt Wipi prospect). Results from the trenches have confirmed that this area is prospective for porphyry style mineralisation with these latest results increasing the Company's confidence that the Kandum - Pully area could host a significant porphyry copper-gold deposit. Assay results for an additional three trenches are pending.
Highlights
- Assay results from three trenches excavated at the Kandum - Pully prospect has been returned with anomalous copper mineralisation (+0.10% Cu) encountered in each trench
- The best result was from MWTR008 which intersected a 52m zone of copper mineralisation assaying at 0.32% Cu, including a high-grade zone of 17m @ 0.53% Cu
- These are the highest copper intercepts Gold Mountain have recorded within the tenements that comprise the
- The copper mineralisation is associated with widespread clay alteration and is located with the magnetic low feature at Kandum - Pully, that has been previously identified as a potential buried porphyry target.
Trace gold values above detection limit to a maximum value of 0.47g/t Au were also intersected in MWTR008.
Discussion
Assay results have been received from three trenches which were excavated within the Kandum - Pully area. All three trenches intersected copper mineralisation over 0.10% Cu, with the best intercept being recorded in MWTR008 which intersected 52m at 0.32% Cu (from 0 to 52m) including a higher-grade intercept of 17m @ 0.54% Cu from 28m. The mineralisation is disseminated evenly throughout the exposed outcrop which is evident by the consistent copper assay values.
Trench locations are presented in Figures 1 and 2* and a table of significant intercepts is presented in Table 1*. The individual assays which comprise each reported intercept is presented in Appendix 1*.
Trench MWTR008 was excavated on the eastern bank of
MWTR008 exposed a 52m zone of highly fractured and bleached clay with chalcocite-malachite mineralisation in structures. The alteration and mineralisation observed could represent the mineralised phyllic zone of a porphyry system, photographs of material exposed by MWTR008 are included in Figures 3 and 4*. Although mineralisation was open at both ends of MWTR008, it could not be extended along strike due to thick colluvium (overburden) covering the hillside.
Upstream of the "phyllic zone" seen in MWTR008 an overlying limestone unit in which chalcopyrite in fractures (to 1% Chalcopyrite) and as veinlets has been observed and mapped in trench MWTR009, indicating the possibility of skarn mineralisation on the contact zone between an intrusive and the carbonaceous limestones. Resultsfor MWTR009 are pending.
Gold Mountain's porphyry expert
MWTR008's geology shows the copper mineralisation occurs within a strongly clay altered and ferruginous saprolite (phyllic style alteration) which is open to the west and possibly to the east. The trench could not be extended in either direction due to these areas being covered by colluvium and gravel. The continuity of the mineralisation is highly encouraging and is indicative of porphyry style mineralisation potentially outside and above the interpretated 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
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2K6B117U
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