Gold Mountain Limited (ASX:GMN) has applied for a highly prospective new Cu-Au tenement (Green River Project) in the West Sepik (Sandaun) province of Papua New Guinea. GMN has applied for a 144 subblock tenement, approximately 493.5sq. km, in the West Sepik Province, 120 km south of Vanimo near the Indonesian Border.
The project has not had the intensive exploration effort that the central and eastern parts of PNG have been subject to and mapping has not generally recognized the presence of mainly Miocene Maramuni Suite intrusives, the major mineralizing intrusive suite in PNG.
Work by companies as well as the Geological Survey has located several occurrences of undeformed porphyritic dioritic intrusive rocks and the locations are often associated with gold anomalies and percent grade float in drainages of copper, zinc or lead.
Recognition of a major transverse structure, the type that many major porphyry and epithermal deposits in PNG are associated with, indicates that potential is much higher than previously recognized.
Two arc normal structural zones associated with magnetite destructive magnetic responses, both of which have known or reported porphyritic intrusives and gold and copper anomalies, including percent grade float, are present in the tenement area. The structural zone in the centre of the tenement is over 22km long and has the majority of the high-grade float samples associated with it.
High-grade float may indicate peripheral veins to a porphyry deposit or possibly may be similar to high-grade base metal veins that are associated with the Porgera gold deposit.
The association of major deposits with or close to transverse structures is very clear and has been identified by numerous authors.
The Maramuni suite continues west into Indonesia and is nearly always found north of the ophiolitic suture.
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