• PAPUA NEW GUINEA - Bonanza zone confirmed at Mt Kare

    A six-hole drill program covering 706 metres at Indochine Mining’s Mt Kare gold-silver project has confirmed that targets host bonanza-type mineralization with the best result being 21 metres @ 33.8 grams/tonne gold within 49 metres @ 22.3 grams/tonne gold.  1

  • PAPUA NEW GUINEA - TVI to proceed with Foyson agreement

    An amended subscription agreement between TVI Pacific and Foyson Resources will go ahead, pending shareholder approval in April. Both companies have made changes to the original agreement and associated joint venture struck in August 2012.

  • PAPUA NEW GUINEA - Rio Tinto may restart Panguna

    Rio Tinto will investigate the possibility of restarting operations at its Panguna copper-gold mine on Bougainville Island, after closing it more than 25 years ago due to protests from local villagers. The company’s subsidiary Bougainville Copper has completed a study at the site which confirms at least 5 million tonnes of copper and 19 million ounces of gold are still hosted within the mine.  1

  • PAPUA NEW GUINEA - Mount Suckling sale finalized

    Papuan Precious Metals (PPM) has sold a 90% stake in its Mount Suckling project in PNG’s central range to Suckling Minerals, a new company established by the former chief operating officer and a Board director of PPM. The company will maintain a 10% carried interest and retain a 2% net smelter royalty.  1

  • PAPUA NEW GUINEA - Test work begins at Crater Mountain

    Gold Anomaly has commenced test work at the high grade zone of its Crater Mountain gold project in Papua New Guinea’s eastern highlands, in a bid to begin operating a small-scale facility by the end of 2014.  1

  • PAPUA NEW GUINEA - New Britain drill program completed

    Coppermoly is awaiting assay results from its New Britain Island projects after completion of a drilling and exploration program. Barrick PNG Exploration was contracted to carry out drilling at the Simuku, Talelumas and Nakru projects, spending more than $23 million at the tenements during the last three years.  1

  • PAPUA NEW GUINEA - Copper-gold discovery at Star Mountains

    The fifth prospect drilled by Highlands Pacific at its Star Mountains project in Papua New Guinea has encountered copper-gold porphyry style mineralization. The Kum Kom prospect is about 25km northeast from the Ok Tedi mine and just 5km north of the Olgal porphyry that was identified in 2012 and which contained a 596 metre intersection of 61% copper and 0.85 grams/tonne gold.  1

  • PAPUA NEW GUINEA - Bonanza gold grades at Mt Kare

    A recent four-hole drill program at Indochine Mining’s Mt Kare gold-silver project in Papua New Guinea has revealed bonanza gold zones. Best result was 10 metres @ 6.3 grams/tonne gold including 5 metres @ 10 grams/tonne.  1

  • PAPUA NEW GUINEA - Frieda largest undeveloped copper-gold project

    A feasibility study has confirmed that the Frieda River copper-gold joint venture in north-western East Sepik province is the country’s largest undeveloped open pit project, and among Asia-Pacific’s tier 1 copper-gold sites. The study outlines the project will require an estimated initial capital investment of US$5.6 billion, for a 20-year open pit mine life capable of annually producing an average 304,000 tonnes of copper and 451,000 ounces of gold in its first five years.  1

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