The Crown Ridge prospect spans an area of 1.5 km² where coarse, crystalline and dendritic gold is consistently being recovered from streams near the headwaters of a river system. Such dendritic gold typically forms when rock fracturing causes flash boiling of gold-bearing fluids: a process that can result in extraordinarily high gold grades. At Crown Ridge, the dendritic morphology and close association of gold with angular quartz highlight the nearby presence of a high-grade gold source that is most likely epithermal in nature.

3. RTP CR w. Targets

Gold Mountain’s 2016 airborne magnetic survey revealed a magnetic low under Crown Ridge, inferred to be the result of magnetite destruction by hydrothermal fluids. The magnetic survey was then used to identify priority targets for further exploration work. The results of stream sediment sampling, soil sampling, pitting and bulk-sample testing all suggest that the hard-rock gold source is most likely to occur in a confined area within the headwaters of the river system. Coarse platinum is also consistently being recovered from the drainage system.

IMG 2706

A 19-hole diamond core drilling campaign totalling 3761.8 m has been completed in June 2018. This programme was designed to constrain the local stratigraphy, to obtain samples of hydrothermally altered and mineralised zones for petrographic analysis and to assess the geotechnical properties of the host rock. Samples from three drillholes (CRD001, CRD004, CRD005) were submitted for gold assays. Results were mostly <0.10 g/t Au and the best intercept was 1 m @ 0.66 g/t Au from 77 m in hole CRD001.

IMG 1655

Currently, more detailed and focussed surface exploration work is being undertaken to identify outcropping mineralisation and to establish further drill targets.

181111 Crown Ridge 80m Soil

 

Exploration Results from Crown Ridge reported in ASX releases of  15-11-18, 08-10-18, 13-07-18, 12-07-18, 17-05- 18, 22-03-18, 09-03-18, 05-03-18, 27-02-17, 15- 02-17, 13-12-16, 12-05-15, 09-03-15 and 30-01-15 and are available to the public at https://www.goldmountainltd.com.au/investors/announcements/. Competent Persons: Mr. Doug Smith, Murray Hutton and Jim Allender. Gold Mountain confirms it is not aware of any new information or data that materially affects the information included in the market announcement. Gold Mountain Limited confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

 

 

Crown Ridge photos