Gold Mountain Limited (ASX: GMN(external link)) is an Australian, publicly listed company exploring for world-class, porphyry copper-gold-molybdenum deposits in the highly prospective Papuan Mobile Belt (PMB) in Papua New Guinea. GMN's flagship Wabag Project has three priority targets all of which were previously covered by BHP tenement applications.

Projects


Monoyal - Porphyry Copper, Gold and Molybdenum Target

  • Wide intercepts of copper and molybdenum identified in drill holes
  • Mineralisation covers a 1 km long by 800 m wide area
  • Recent outcrop sampling extends area of known mineralisation to the North West

Mt Wipi - Porphyry Copper, Gold and Skarn targets

  • GMN has targeted the Mt Wipi area which is considered to be highly prospective it is located along with the same structural trend as both the Monoyal and Sak Creek targets
  • High-grade copper assays were obtained from outcrops along with a creek system

Sak Creek - Porphyry Copper and Gold Target

  • Large copper in soil anomaly - covers 800 m long by 500 m wide area
  • Alternation characteristics of typical porphyry deposits
  • High-grade copper/gold and lead-zinc mineralisation identified in shears which are indicative of being at the upper levels of a porphyry system

Highlights

  • Wabag project located within the world-renowned copper/gold province in the PMB in Papua New Guinea
  • +2,500 km2 footprint within prolific PMB, 70 km from the Porgera gold mine and within a cluster of other major mineral deposits
  • Highly experienced and dedicated management and technical team
  • Strong current copper and gold market fundamentals
  • Flagship Wabag Project has three highly prospective exploration targets, each with the potential to host large-scale copper-gold-molybdenum mineralisation contained within the same North West - South East striking structural corridor
  • Extensive copper and molybdenum mineralisation intersected in five holes at the Monoyal Prospect, indicating GMN is possibly drilling above a very large porphyry intrusive system
  • Recently granted Mt Wipi tenement lies on the same structural trend as both the Monoyal and Sak Creek prospects which highlights the prospectivity of the area with the potential to discover a large porphyry or skarn related deposit, this has been supported by recent rock chip samples
  • Based on soil geochemistry and alteration mapping, there is the potential that Sak Creek may host another large porphyry system