Jan 5 2011
Papuan Precious Metals Corp. (TSX VENTURE:PAU) has updated field exploration activities at its 100% owned New Hanover Kuliuta gold prospect.
Geochemical results from 1,006 soil samples taken from the southern and central sections of the Kuliuta soil grid have expanded the gold-in-soil anomalous zone to 1,400 m x 600 m. This zone remains open to the west. Gold assays over this part of the Kuliuta grid included 5 samples > 1.0 g/t Au and 211 samples (21%) > 0.1 g/t Au. Results from an additional 155 soil samples from the northern portion of the grid and 208 channel samples/rock samples collected mainly from the historical Kennecott trenches are pending. Significantly, a large portion of the anomaly lies to the west and south of the previous drilling by Kennecott, where it remains open along a 500 m interval on the western edge of the soil grid.
Kuliuta has now been upgraded to the drill stage and a drill program is being planned for the end of Q1 2011.
The present phase of detailed exploration at the Kuliuta prospect concluded in December, 2010. During a series of three campaigns commenced in July, 2010, field teams completed 32 line km of soil sampling at 25 m centres covering a 3 km x 1 km soil grid area and mapped all streams within and adjacent to the grid at 1:1,000 scale. In addition, bulldozer trenches completed by Kennecott in 1988-9 were resampled. PPM's fieldwork represents the first significant field re-evaluation of the Kuliuta project since Kennecott's withdrawal in 1989. This program followed PPM's earlier sampling, which identified geochemical anomalies (gold values in soil > 0.1g/t Au, and up to 5.92 g/t Au) in two zones measuring 225 m x 200 m and 100 m x 200 m (See news release October 25, 2010). These latest results have extended this anomaly over a length of 1,400 m in length to a maximum width of 600 m.
Drill targets on the Kuliuta prospect will be selected and prioritized from analysis of layers of soil geochemistry data, (creek, grid and trench) geology, and trench geochemistry. Plans are underway for a drill program to be finalized for commencement before the end of Q1, 2011.
All samples were sent to the Genalysis Laboratory in Lae, PNG, for sample preparation prior to pulps being sent to Jakarta for analysis. Complete results will be reported when available.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ian David Lindley, President & Chief Operating Officer of Papuan Precious Metals Corp, a Qualified Person. Dr. Lindley has First Class Honours and Ph.D. degrees in Geology, 34 years mining industry experience, and is a member of the Australian Institute of Geoscientists.
Source: Papuan Precious Metals Corp.