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Drilling at Crater Mountain

17th Dec 2010 07:00

RNS Number : 1477Y
Triple Plate Junction Plc
17 December 2010
 



17 December 2010

Triple Plate Junction Plc

("TPJ" or the "Company")

Drilling at Crater Mountain

The Company notes the following announcement made on 13th December 2010 by Gold Anomaly relating to the Crater Mountain joint venture project between TPJ and Gold Anomaly in Papua New Guinea.

 

Drilling Begins at Crater Mountain PNG Gold Prospect

Gold Anomaly Limited (ASX: GOA) is pleased to announce that following some logistical issues causing delay, drilling has commenced at its flagship Crater Mountain gold project in Papua New Guinea.

 

Crater Mountain is a former BHP tier-1 project which consists of three contiguous exploration licences spanning some 300km2 in the highlands of PNG.

 

The Company's maiden drilling program targets the most advanced of the four gold bearing areas identified to date at the Nevera prospect, where significant gold mineralisation has been confirmed on the surface and at depth (see the Company's ASX release dated 11 November 2010 for details).

 

Gold Anomaly's Chairman Greg Starr said "We are pleased to report drilling has commenced at Crater Mountain. This is a significant milestone, beginning an aggressive program of 2500 metres of diamond drilling to further define the Nevera prospect's potential."

 

The drilling program is led by GOA director and exploration manager Peter Macnab, who has played a key role in the discovery of major mineral deposits totaling some 100Moz gold equivalent throughout PNG over the past four decades. Mr Macnab's view is that the diatreme-breccia zone outlined at Nevera is analogous to the diatreme-hosted geological setting at the 6.5Moz Wafi Creek deposit (Newcrest/ Harmony Gold), which Peter discovered. Crater Mountain also displays similar geological settings to Kelian [Indonesia] and Acupan [Philippines], both of which host orebodies in excess of 1Moz gold.

 

For further information, please contact:

Triple Plate Junction Plc +44 (0) 20 7602 1570

Tony Shearer

 

Daniel Stewart & Company plc +44 (0) 20 7776 6550

Antony Legge / Oliver Rigby

 

Financial Dynamics +44 (0) 20 7831 3113

Ben Brewerton / Oliver Winters

This announcement is also available on the Company's web site: www.tpjunction.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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