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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	GOA
Latest Price:	0.01 (-8.33% )
52-week High:	0.05
52-week Low:	0.01
Market Cap:	17.86M

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Gold Anomaly

Gold Anamoly (ASX: GOA) is a company exploring and developing gold and base metal deposits in Brazil, Papua New Guinea and Australia.

The company has three projects in Papua New Guinea: Crater Mountain, Fergusson Island and Bogia. Crater Mountain is a potential multi million ounce gold deposit located in the highlands of PNG.

Gold Anomaly set to take full control over Fergusson Island gold deposits

Thursday, February 23, 2012 by Bevis Yeo

Gold Anomaly (ASX:GOA) is poised to return to familiar grounds on Fergusson Island, Papua New Guinea after successfully applying for a new exploration licence there.

The new ELA 1972 covers the same ground as EL 1070 that was cancelled in March 2011, allowing the company to resume control over the Gameta and Wapolu gold deposits there.

As a bonus, Gold Anomaly will, for the first time, have 100% control over the two deposits. It had previously held a 67% interest in EL 1070 with the remaining 33% owned by Yamana Gold (TSE:YRI).

The company had previously estimated an inferred resource of 5.1 million tonnes at 1.8 grams per tonne (g/t) gold for 295,000 ounces of gold at a cut off grade of 1.0 g/t gold for Gameta.

Award of the tenement is subject to a favourable Warden’s hearing, which will consider the views of landowners and the local communities in relation to the company’s involvement and activities. This is scheduled for 6 March 2012.

Gold in both deposits, which are 30 kilometres apart, is flat-lying, close to the surface and refractory.

The company said that with technological advances in environmentally friendly bacterial leaching for refractory ores and the current high gold price, it is confident of developing a highly profitable project on Fergusson Island.

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