goa - crater mt drilling...very interesting!

Hey Guys

A couple of things I'd like to highlight about GOA and their Crater Mountain tenement!

Looks like GOA's revenue share is 70% now!

I just had a quick look at GOA's announcement when they raised the $2.3m to drill Crater Mt on the 10th of November 2010!

Looks like when they increased their drilling from the initial 1500m to 2500m by raising the extra $900,000 their share of any profits from Crater Mountain increased from 51% to 70%!



Read his notes below!

Then if TPJ doesnt cough up any additional cash to add to drilling and GOA continues to spend cash and drill Gold Anomaly's share increases to 90%!



The second thing I would like to remind everyone is the following diagram and notes on Page 4 of the November 11 2010 announcement about Crater Mountain!



I mentioned in an earlier post that Macnab would not have wasted company funds on deeper drilling (to 594m) with the first drill hole if it wasn't for good reason!

Here is the reason above!

He is trying to validate what he believes is a very deep high grade gold deposit in the sub vertical diatreme zone, in green above!

He believes that there have been two geological events that filled Crater Mountain with gold! Which in turn could result in the region having similar or greater grades of gold to the previously drilled areas!

This 594m drilling went smack bang into this previously untested area(in green)!





There is also another 2000m of drilling to come after this maiden hole! As Macnab and his team work out where and how the gold feeders run, they will be able to chase them with following drilling!

Go GOA!

Cheers Nectar