Crater Gold Mining (ASX:CGN) has revealed continued high grade gold assay results from ongoing diamond drilling at its High Grade Zone project at Crater Mountain, Papua New Guinea.
Highlight results include 56.3 g/t gold over 0.5 metres and 18.9 g/t gold over 1 metre in holes Nev51 and Nev52.
The results from diamond drill holes Nev51 and Nev52 confirm the upward continuity of gold mineralisation above the underground development through to the surface in the vicinity of the artisanal workings.
Drill holes Nev49 and Nev50 were down holes confirming depth continuity below the underground development.
The HGZ project is earmarked to commence gold production in the 4th quarter 2014, subject to the outcome of a pending mining lease application.
A gravity concentration process plant has been installed and commissioned, and bulk sampling is in progress.
An additional 7 diamond drill holes have been completed from a second drill pad 25 metres north of the adit portal.
These holes have been drilled in a south easterly direction to test possible East West structures mapped in the underground development.
Results from these holes are awaited.
