Papuan Precious Metals declared that a new exploration possibility is imminent in view of considerable copper and gold results obtained from outcrop samples at Metewoi River. The Metewoi prospect offers a potential for porphyry copper-gold and high-sulphidation epithermal gold. This prospect lies to the southeast of the Kuliuta copper-gold prospect.
Quartz-alunite breccia outcrop encloses a 6 km2 region at the Metewoi prospect. During the mid-half of 2011, the company’s geologists were focusing on this outcrop for comprehensive mapping and grid soil sampling. Chalcopyrite, covellite and Chalcocite have been identified in quartz veins inside the quartz-alunite breccias. Extensive quartz-alunite changes combined with high copper and arsenic rock values at the Metewoi prospect is similar to high sulphidation changes and mineralization in the top portion of significant porphyry gold and copper deposits in New Guinea at Frieda-Nena and Wafi-Golpu and in different archipelagoes in Philippines and Indonesia.
Till date, previous explorers have not identified the porphyry copper prospect of New Hanover. The company’s drilling activity at the Kuliuta prospect as well as exploration across EL 1566 has validated the porphyry potential of New Hanover within a short period of time. Drilling at the Kuliuta prospect ignited the interest of mineral industry for its unique intersection of a native and sub-volcanic hosted, sulphide copper-bearing porphyry to depths of ~500 m beneath the La'mau'sing Mountain.
Previous exploration program performed by the company had intersected 9.67% copper in Metemana Creek’s outcrop, which stretches 5 km towards the southwest of Kuliuta, Comprehensive mapping and grid soil sampling enclosing widespread regions at the Metewoi and Elang prospects will be concluded shortly and results will be released, once they are available.
Papuan Precious Metals has planned to advance the Metewoi and Elang prospects to drill targets by the second half of 2012.
Source: http://www.ppmpng.com/