Gold Mountain Limited is an Australian-based minerals exploration and development company which is listed on the Australian Securities Exchange (ASX Code: GMN).
Gold Mountain holds substantial areas within the fertile Au-Cu-endowed Papuan Mobile Belt that includes world-class mines. Most of the areas within the Exploration Licences (ELs) are unexplored using modern technology. Multiple targets identified within the licence area of approximately 2,000 km2. Current exploration focus is on five main prospects within the Wabag Project:
• Mongae Creek – discovery of outcropping porphyry Cu-Au style mineralisation, mapping and stream sampling indicate that there is good potential for a large-tonnage deposit in this area. Drilling identified the existence of porphyry-style mineralisation. Results from the drilling and surface geochemical sampling programmes indicate high prolific regions. Drilling and exploration geochemical sampling is ongoing.
• Crown Ridge – field programmes have identified part of the catchment area where the source of abundant fine and coarse gold is likely to occur; current exploration working up to drilling targets, expected to be of high-grade epithermal nature.
• Sak Creek – early-stage exploration identified strongly mineralised float samples. These interpreted as a potential low-sulphide epithermal gold system. Ridge-and-spur soil sampling has narrowed the target area down, and follow-up field activities planned.
• K-Lam – early-stage exploration identified strongly mineralised rock chip samples from rocks that are consistent with the intrusives that drilled in diamond drill holes at Mongae Creek.
• Lombokai – early-stage rock chip results indicate high Cu-Au values to the North-east of the current drilling in Monoyal.
Large areas remain unassessed. However, early exploration success confirms the potential for the discovery of world-class mineral deposit(s) on the scale of the giant Porgera (gold) and Ok Tedi (copper-gold) mines.
The corporate video includes interviews with the senior leadership team, describing what makes Wabag a unique Cu-Au asset.