...has early signs consistent with other world class discoveries within the region.
Crater Mountain is the Company's flagship asset.
Lying within PNG's 'ring of fire', the project has outstanding potential to host a world class, multi- million ounce gold discovery.
Crater Mountain comprises three contiguous exploration licences. BHP considered the prospect to be a Tier-1 asset (highest potential, best prospectivity) prior to abandoning PNG for corporate reasons in the 1990's.
To date, four areas of gold mineralisation have been identified, with the most advanced – the Nevera Prospect – containing a high grade, near surface zone. The Company is developing an initial small- to mid-scale shallow, open-pit operation at Nevera in the near-term.
The Company has been conducting a drilling programme at Crater Mountain since November 2010.
|Why do we suspect Crater Mountain will become a world class mineral discovery?
Former BHP Tier-1 asset
Within a region rich with world-class mineral discoveries
Coherent gold-in-soil anomaly over 1.5km by 1.0 km
Excellent historic drilling results including
- NEV 02; 121 metres at 1.77 g/t Au
- NEV 05; 151 metres at 1.38 g/t Au
- NEV 08; 178 metres at 1.30 g/t Au
- NEV 18; 284 metres at 0.82g/tAu
- NEV 19; 215 metres at 1.46 g/tAu