Thank you for the invitation to talk here. Firstly Gold Anomaly
(ASX:GOA) is a junior Australian listed gold company. The Crater Mountain project is a very large, low grade, bulk tonnage opportunity in Papua New Guinea; an exploration story and a major project in the making.
We have three assets but Crater Mountain is our focus in the eastern highlands of New Guinea. One of the key assets we have is very good management. Our exploration director Peter Macnab has experience in some of the largest goldmining projects in New Guinea. Our second project is Fergusson Island in Papua New Guinea and Croydon in Queensland, which is a gold and polymetallic project.
Papua New Guinea is home to some of the largest gold projects in the world – Lihir, Simberi, Wafi Golpu, Hidden Valley, Porgera. And each of those projects are owned by some of the largest goldmining companies in the world - Newcrest, Newmont, Barrick and BHP is exploring all around us. We’re about 60 kilometres from Goroka which is the third largest town in New Guinea, a 15 minute helicopter ride; we have a road/track to the mine site and an airstrip nearby.
We have an Artisanal mining zone which is a high-grade area, narrow vein structure but very profitable for those who have mined. And recently we intersected 1,000 metres below surface, a porphyry system, so it’s an exciting and huge area.
At Crater Mountain we’ve now done two 1,000 metre holes, 13 or so 600 metre holes and we’ve identified about 150 metres below surface, an area called the mixing zone. It’s not so far below surface and as we’re on the side of a mountain, access is huge – 600 metres wide. We’ve already hit an intrusion containing copper and believe there is a great source of gold below the Artisanal mining zone.
We’ve had nearly a million ounces in 12 months from this project and our resource is only considered the main zone area at the moment. That hasn’t considered the porphyry system at depth and the high-grade area, so we see the opportunity here. Our target is one to five million ounces just on this area alone, so a very exciting area moving forward.
The Fergusson Island and Croydon Projects are both promising and interesting projects which we haven’t been focussing on right now due to the excitement at Crater Mountain. However, we will be starting more work on both projects in the near future.
We have a market cap of around $30 million and our cash position at the moment is approximately $3 million. We’re taking a break from drilling to assess our situation, but we will be looking to raise money in the future. Our Board of Directors are Peter Macnab, whom we are very lucky to have and I am an accountant and have experience as CEO to a number of listed juniors. Thank you very much.
