(MENAFN - ProactiveInvestors - Australia) Gold Anomaly (ASX:GOA) soared on back of commencement of test work for high grade zone development at its Crater Mountain gold project in Papua New Guinea.
The testwork would pave the way for a small scale operation by the end of 2014.
Shares in Gold Anomaly soared 50% to trade at 0.0030 a share.
The high grade zone is close to the Top Camp at the Crater Mountain's Nevera prospect, where previous drilling intersected bonanza gold including a drill hole sinking 46 metres at 5.9 grams per tonne gold including 2 metres at 98.2g/t.
Historical mining is also estimated to have yielded up to 2 ounces of gold per tonne and 15,000 ounces of gold have been extracted from shallow underground workings.
Gold Anomaly will now progress testwork in the zone with bulldozer/excavator benching of spur and underground exploration, initially focusing upon confirming the geological expectations of the area and bulk testing processing methods.
Separately, Gold Anomaly has also appointed Richard Johnson as general manager of its operations in PNG.