Crater Gold Mining Limited announced that the initial RC drilling program, targeting anomalies identified by the recent airborne electromagnetic (EM) survey, has been completed. A large number of high priority, strong linear, anomalies were identified in the recent HEM survey at Croydon. Additionally, more localised discrete, moderate to weak, anomalies were also identified.

While most are expected to be due to strongly graphite mineralisation, some may be associated with sulphitic gold bearing quartz reefs or gold bearing quartz reefs closely associated with graphite. Targets that were tested in the drilling campaign included anomalies S1-South, S4-North and S7. Eight (8) holes targeting a potential shallow gold bearing alluvial area were drilled in the S1-South area.

Two (2) holes were also drilled in the S1-South area. Three (3) holes were drilled in the S4-North area and three (3) holes were drilled on the S7 area. A total of five (5) holes were drilled to test areas of old shaft developments in areas between S4-North and S7.

Although abundant graphite bearing mullock were noted at these shafts, it is expected that they were only developed for gold mineralisation. Samples are currently being prepared for dispatch for assay. Analytical results are expected in late January.

The Company plans to undertake further RC drilling in combination with diamond core drilling in March/April next year after the end of the wet season.