A bonanza for who – local people or Australian shareholders?
Crater Gold has encountered bonanza grade gold while continuing underground development at the High Grade Zone project in Crater Mountain, Papua New Guinea.
Channel sampling returned grades of up to 1,740 grams per tonne and confirmed contiguous zones of high grade mineralisation along strike suitable for selective mining.
To date, three distinct high grade shoots have been delineated for stoping.
Success of the sampling program enables the company to move rapidly towards increasing gold production.
A modular process plant has been fabricated and will be shipped to site within the next two weeks.
Incorporation of the new process plant plus increased underground development rates are expected to result in higher mining production.