Vancouver High gold grades from drillcore on the Mt. Penck property are providing encouragement to partners New Guinea Gold (NGG-V) and Vangold Resources (VAN-V) at this early stage of exploration. What’s more, the gold appears to be concentrated in the more competent lavas thus providing a bulk tonnage target for the property.
The Mt. Penck property, situated in West New Britain Province, some 55 km west of the port of Kimbe, covers an area over 100 sq. km. The property was held 50:50 by Vangold and New Guinea Gold, however, New Guinea has earned a 60% interest by funding the first $300,000 of exploration costs alone.
Five holes were drilled southeasterly and two southwesterly over 250 metres of the northeast-trending Kavola East mineralized structure, of which only a small portion has been tapped into by the recent drilling. The initial 1,000 metre drill program at Kavola East encountered anomalous or significant gold in each hole.
Results included 72 metres grading 1.79 grams gold and 12.9 grams silver per tonne from surface in hole MPD-6. Hole MPD-7 collared about 50 metres away returned 2 metres of 36.7 grams gold from a depth of 68 metres in addition to 14 metres of 2.82 grams gold from surface in the same hole.
The high-grade intercepts at the Kavola East prospect are within wide surface intervals of low grade gold such as 49 metres of 0.23 grams gold and and 34 metres of 0.79 grams gold.
The drill results do not reflect the high-grade results from trenching which pointed to a northeast trending structure that controlled mineralization.
So far the gold mineralization appears to be related to quartz stock working confined to favourable lava units around the near-vertical Kavola East structure. On the other hand, there is little stockwork development or associated gold within the interbedded epiclastic units which display intense and pervasive argillic alteration.
Hydrothermal mineralization was deposited within the more permeable lava units along with quartz, hematite and pyrite.
New Guinea Gold is making use of good rock exposure to map and sample along the network of drill roads to get a better understanding of what is controlling the mineralization in preparation for further drilling early next year.
The focus will be to outline thick lava units with good cross structures for a bulk-mineable deposit at Kavola East and elsewhere on the property.
Be the first to comment on "High gold grades pulled from lavas of Mt. Penck"