Menu

Australian Shares is the world's biggest free online database of information on Australian resource companies.

Time to Update your company profile
Australian Shares

GOLD AURA LIMITED

ASX: GOA

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Gold Anomaly Limited, is a company exploring and developing gold and base metal deposits in Brazil, Papua New Guinea [PNG] and Australia. Gold Anomaly Limited was formed by the friendly take over of Anomaly Resources Limited by Gold Aura Limited in November 2009. The merger was inspired by a recognized synergy in the two companys projects and management teams. The merged company now has a pipeline of projects ranging from the medium sized high grade Sao Chico Gold Project in Brazil which is scheduled to go into production in August 2010 to a number of larger potentially world class Tier 1 projects in Papua New Guinea and Australia which are at various stages of development. It is envisaged that production from the Sao Chico mine will fund ongoing exploration and development of the other projects.

The merger of the two companies also enhanced the overall expertise of the board particularly with respect to Papua New Guinea. Director of Exploration, Peter Macnab has worked in PNG for over 40 years and is a widely respected expert in PNG geology. He was a co?discoverer of the giant Lihir deposit as well as being involved in the discovery of many other world class deposits in PNG including Wafi, Frieda River, Misima and Simberi. The other directors bring to the company a broad range of management and technical skills and long term experience in the mining sector.

The company has three projects in Papua New Guinea ; Crater Mountain, Fergusson Island and Bogia. Papua New Guinea is a resouce rich country which is one of the richest gold and copper province in the world. It boasts a number of giant world class copper and gold deposits including Grassberg, Ok Tedi, Porgera, Hidden Valley, Bougainville and Lihir Island as well as a number of large deposits currently being brought into production. By international standards it has only been lightly explored because of its rugged terrain and difficulty of access. Despite being a developing nation, PNG has a modern sophisticated Mining Legislation and supporting administrative infrastructure including a freely available data base [much now in digital format] of all previous exploration activities. The government is highly supportive of the mining industry and sovereign risk is very low compared to other developing nations.

Crater Mountain, Papua New Guinea

The Crater Mountain Project is a potential multi million ounce gold deposit located in the highlands of PNG. Significant gold mineralisation has been discovered on the surface and at depth in drilling. The Fergusson Island project comprises two shallow lying drill defined gold deposits on the coast of Fergusson Island while the Bogia Project, situated on the coast of the mainland covers an area of copper and gold mineralisation which has never been drill tested.

The Company has one project in Australia the Croydon Project where the company has discovered an extensive zone of poly-metallic mineralisation [predominantly zinc-silver] beneath 100 metres of cover. This is a new discovery in the highly mineralised Mt Isa Province of north Queensland and is considered to have enormous upside potential.

Croydon, Australia

The most recent success by GOA has been the discovery at Anomaly A2, in late 2006, of an extensive polymetallic vein-style mineralised system under some 115 m of cover rocks north of Croydon in NW Queensland. The area, designated the Croydon Zinc Project area, lies immediately to the north of the Croydon Goldfield where the Company's Croydon Gold Project tenements are located.

The Anomaly A2 mineralised system has been intersected in all nine holes over a zone 600m wide and at least 1,250m long and contains significant concentrations of zinc, silver, tin, copper, lead and some gold hosted by laminated grey to dark grey shales. A 133m intersection in the first hole returned 1.1% zinc, 18.3 g/t silver, 0.15% tin and 0.035% copper, while a one metre interval in the second hole returned 3.87 g/t gold. Other intersections of interest are: 5.05m at 8.0% zinc, 180 g/t silver, 0.58% tin and 0.57% copper (Hole A2-001); 20.0m at 4.18% zinc, 49 g/t silver and 0.38% tin (Hole A2-006). There is strong evidence for metal zoning and GOA is of the view that economic concentrations of one or more of these metals could occur in various parts of the system.

The discovery hole was testing an aeromagnetic anomaly located on the margin of a regional gravity high. The intersected mineralisation is considered to be a sheeted vein style occurrence emanating from a granite intrusive at depth (inferred from the presence of tin, patchy tungsten, fluorite and tourmaline).

Two holes have so far been drilled into a second aeromagnetic anomaly, Anomaly A1, located 8km to the NE, which have collectively intersected copper-silver and zinc-copper-silver veining. Significant intersections obtained to date include 20.8m at 11.0 g/t silver and 0.35% copper; 7.0m at 0.54% zinc, 15.0 g/t silver and 0.15% copper.

Interpretation of a gravity survey undertaken in the Anomaly A2 area has identified two high priority (G1 & G3) and one low to medium priority (G2) residual gravity anomalies. GOA is particularly encouraged by these anomalies and considers that they have a significant chance of representing the presence of significant sulphide mineralisation.

IP traversing has been successful in detecting the drill intersected sulphide mineralisation under cover and will therefore be an important tool in determining if the gravity anomalies are associated with large sulphide bodies as interpreted.

The geophysical pattern is not dissimilar to that displayed at the world-class Prominent Hill and Carrapeteena IOCG discoveries in South Australia although the mineralisation type is, of course, quite different. Tenements totalling some 3,300 square kilometres have been acquired to secure a further 36 similar prospective co-incident aeromagnetic/gravity data sets in the Croydon region.

The mineralised basement rocks in the Croydon Zinc Project area are considered to be of Proterozoic age and are interpreted to represent a NE extension of the block that hosts a number of world-class mines and resources in the Mt Isa district and as a consequence are considered to hold considerable and extensive potential for further mineral discoveries.

Fergusson Island, Papua New Guinea

PNG - GOA is currently undertaking a 60-hole, 4,000m in-fill drilling programme at the Gameta Gold Project on Fergusson Island. To date, 22 holes for 2,795m have been completed. Early drilling results indicate a substantial downward thickening in the central part of the resource, with recent intersections of 65m at 1.22 g/t gold and 76.9m at 1.38 g/t gold. GOA has a substantial gold deposit at Gameta and if results continue to be encouraging, a Feasibility Study into possible commercial gold production could commence by the second half of 2008.

Tapajos Region, Brazil

Wholly owned subsidiary, Gold Aura do Brasil Minerasao Ltd has exercised its option over the high grade gold and base metal Sao Chico property in Northern Brazil to acquire an initial 60% interest. The property is now contained within a granted Authority to Prospect. Spectacular grades have been obtained from grab samples of the vein material with values of up to 283.0 g/t gold, 304.0 g/t silver, 52.8% lead, 15.9% zinc and 1.81% copper. A channel samples result of 1.0m at 347 g/t gold was also obtained. Preliminary metallurgical testing has indicated that most of the gold is free milling. The project offers early gold and base metal production.

Mine For

gold, zinc, silver, copper, tin

Location of operation(s)

Queensland, Brazil, Papua New Guinea

Address

Level 4, 15-17 Young St
SYDNEY, NSW, AUSTRALIA

Phone

+61 (0)418 758 301

Email

Website


Last Updated

6/4/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.