Maiden resource for Crater

GOLD mining junior Crater Gold Mining has estimated a maiden high grade resource at its HGZ project in Papua New Guinea.
Maiden resource for Crater Maiden resource for Crater Maiden resource for Crater Maiden resource for Crater Maiden resource for Crater

The inferred 44,500 tonnes grading 11.9 grams per tonne for 17,100 ounces is principally contained in three major gold veins at the project, with a previous target suggesting the possibility for 50,000-250,000t at 13-30gpt for 60,000-100,000oz.

Crater said the potential to increase the resources was considered substantial.

The company said all-infrastructure was in place to access the mineralisation.

Stoping a the project began last quarter with $A127,000 in revenue received - which equates to well under 100 ounces.

However that production came from areas where unexpected artisanal mining had previously taken place, reducing the anticipated grade and production.

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