The Asia Miner

OCT-DEC 2016

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Volume 13 • Issue 4 | 2016 | ASIA Miner | 21 Papua New Guinea CRATER Gold will resume exploration within the Mixing Zone at the Crater Mountain Gold Project with a view to carrying out diamond drilling in a 300 metre zone between the High Grade Zone (HGZ) mine and the Mixing Zone (MZ) . There is no historical data for this section . Generally difficult topography meant that it was not possible to place suitable drill platforms on surface during the previous drilling campaign ending in 2012 . Development at HGZ since 2013 at the 1960 metre level now pro- vides the infrastructure and underground access to be able to construct underground drill platforms . This will require an extension of the existing underground HGZ drive for approximately 250 metres east, placing it in the middle of the MZ and through the zone with no data . Immediate benefits of this development will arise from mapping and sampling fresh rock exposures and hence fresh interpretation of con- trols to mineralisation . It will also provide an accurate cross section of the unmapped, undrilled zone . Interpretation will allow formative decisions to be made regarding future drilling and the potential to identify the higher grade gold mineralisation within the MZ project that could be exploited concurrently with HGZ . There remains potential to increase the JORC-compliant resource of 24 million tonnes @ 1 . 0 grams/tonne gold for 790,000 ounces at MZ . Crater Mountain is 50km southwest of Goroka in Eastern Highlands Province . Formerly a tier-1 BHP asset, there has been in excess of 14,500 metres of diamond drilling, the majority focused on the Nevera prospect, which hosts HGZ mine . Crater Gold's managing director Russ Parker said, "This is a great op- portunity for us to gain additional benefits from the HGZ development mining of the past few years allowing us to further increase the potential of the Nevera prospect and increase mine life . " Crater Gold plans to commence a second adit at the 1930 level, 30 metres below the existing 1960 level adit at HGZ . The area between 1930 level and 1960 level has not been exploited by artisanal miners, unlike the area between 1960 level and surface where artisanal workings are frequently encountered . The addition of the second adit will result in higher production as both the 1930 and 1960 levels will be producing in tandem . The adit will access the depth continuity of the HGZ central block, which will provide more working faces . Crater Gold Mining's Crater Mountain project in Eastern Highlands Province of PNG . Exploration to resume at Mixing at Mixing Zone Zone

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