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%.