The first JORC resource estimate for one of Australasia"s largest potential copper-molybdenum projects is expected to be announced by the end of the year, according to ASX-listed Marengo Mining Limited.

Marengo Mining managing director Les Emery says the JORC estimate for the Yandera project in Papua New Guinea is on track for year's end and would immediately allow the company to start a pre-feasibility study on the processing and mining method.

Les Emery told the recent Paydirt Asia Pacific Downunder, there was no doubt Yandera would emerge as a "monster" mine with an initial 10 year life and up to "50 to 60 years tacked on the back of that".

Marengo which has listed on the Port Moresby stock exchange owns 100% of the project and in May launched a major resource drilling campaign across the mineralisation.

"We now have an improved understanding of the structure of the deposit and its metals distribution with core focus for first mining on three of the eight ore zones, particularly upgrading through drilling, Gremi and Omora," Les Emery says.

"Between now and the end of the year, we are looking to identify the strongest near surface mineralisation for a potential starter pit, based around a 10 year plus operating life.

"Drilling to date has included intersections of 237 metres @ 0.83% copper and 204 metres @ 0.63% copper.

"This may seem below the accepted 1% standard for commercialisation but we have very low strip ratios and the figures are well above the average 0.4% copper grade behind one of the largest copper mines in Canada - Highlands Valley."

Les Emery says Yandera is in all ways a giant deposit and "we expect it to be a world class mine for up to 60 years".

"The resource calculation due by the end of the year will provide us with a lot of guidance on now the best way forward," he said.

Marengo plans to mount an additional drilling program next year to target higher grade zones and known deep-seated targets within Yandera.