Rock chip and float samples from satellite prospects at Marengo Yandera Project in Papua New Guinea have produced significant gold, silver and base metal assays.

The assays include 12.1% copper, 3.76% zinc, 0.79% lead, 0.83% molybdenum, 271 grams/tonne silver and 19.1 grams/tonne gold.

As part of a programme to further investigate previously reported satellite prospects surrounding the Yandera Central Copper-Molybdenum Resource, a programme of stream sediment, rock chip and float sampling is being carried out in the Yandera region.

At the Gogobangu Prospect, about 2km east of the Yandera Central Resource is a distinct gold anomaly with 5 samples returning values greater than 0.2ppm. The highest value of 19.1 grams/tonne gold also returned 75 grams/tonne silver, 0.12% copper, 247ppm molybdenum, 0.78% lead and 3.76% zinc.

At the North and South Bononi Prospects, about 4km south-east of the Yandera Central Resource, anomalous samples are spread out over a north-south extent of about 2km, however these are not as coherent as the Gogobangu anomaly. Rock chip samples returned up to 12.1% copper, 0.2 grams/tonne gold, 271 grams/tonne silver and 8330ppm molybdenum.

The regional programme is covering areas to the north-west of Yandera, into the Queen Bee prospect area. One of the priorities in this area is to locate the mineralization reported by previous operators from the Queen Bee Prospect.

Diamond drilling continues at the Yandera Central Resource where Marengo has announced the start of a bankable feasibility study into the development of the Yandera Central Resource, which has the potential to become a very significant strategic source of copper and molybdenum production, in global terms.