New diamond drilling results from Marengo Mining"s Yandera copper and molybdenum project in Papua New Guinea continue to outline zones of better grade material within the planned open pit.

The best result was at Omora with a broad zone of 201 metres @ 0.61% copper and 234 ppm molybdenum from 115 metres to 316 metres. It included 36 metres @ 1.20% copper and 224 ppm molybdenum and 39 metres @ 0.52% copper and 351 ppm molybdenum.

Another hole at Omora intersected a zone of 63 metres @ 0.39% copper and 120 ppm molybdenum from 216 to 279 metres downhole.

In addition to the two diamond drill rigs operating at Yandera, Marengo recently sourced two additional rigs, which will also begin work on site shortly.

Marengo has received the results of a Conceptual Mining Study completed on the Yandera Central Porphyry System.

The outcomes include a conceptual open pit encompassing 406 million tonnes to underpin an initial 10-year mine life and an initial mining rate of 25 million tonnes per annum for the first two years increasing to 40 million tonnes.