Gold Anomaly Limited (ASX:GOA) Updates on Crater Mountain Project, PNG - NEV026 Results

Sydney, Nov 8, 2011 AEST (ABN Newswire) - Gold Anomaly (ASX:GOA) is pleased to announce results from NEV026, the third hole drilled in the Artisanal Mining Zone at Crater Mountain this year.

Crater Mountain is the company's flagship project, and is shaping up as PNG's next large scale, bulk tonnage gold deposit. Drill results from the company's maiden drilling program confirmed the discovery of a new high grade gold zone (the Artisanal Mining Zone) in July 2011, complementing the extensive gold mineralisation encountered at the Main Zone to date.

NEV026 intersected 1m at 16.2 g/t Au in addition to a 41m interval which assayed 0.68 g/t. Within this 41m interval, numerous narrow (1m) veins which assayed over 1.5 g/t Au were also intersected.

The hole drilled through a number of steeply dipping, northerly-trending gold-bearing pyrite veins without intersecting any bonanza-grades which are associated with vertical dilatational zones and occur where these veins intersect with a prominent easterly-trending fracture set, such as that intersected in NEV022 (2m at 98.2 g/t Au) and which are worked by the artisanal miners.

NEV026 results confirm that the gold seen at the artisanal zone is not just supergene in nature and that high grade gold veining does occur in the sulphide zone as well as the oxide zone.

The style of mineralisation and geology seen in NEV026 are similar to that seen in NEV022, predominantly epithermal quartz - pyrite veining containing no associated base metal sulphides which characterise the Mixing Zone mineralisation. NEV026 has provided more information on the orientation and declination of the artisanal zone, assisting in planning future holes.

On the back of the drilling to date, it is planned to bring a third drill rig to site in 2012 to focus solely on defining the Artisanal Mining Zone.

Update on Main Zone drilling

Currently Hole NEV027 is down to a depth of 1,054m in very strongly altered and partially silicified Chim formation sediments which have been cut by base - metal carbonate veins. This is consistent with signs of a porphyry system at depth. NEV029 is down to a depth of 390m and has intersected a similar style of mineralisation and alteration as that seen in the other holes which have been drilled into the Mixing Zone. NEV028 is undergoing sample prep in Lae and should be despatched to Townsville early this week with results due later this month.

For the complete Gold Anomaly announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-GOA-237070.pdf

Contact

John Lemon Company Secretary Gold Anomaly Limited Ph: +61-2-9241-4224