Papuan Precious Metals Corp (TSXV:PAU) announced the results of the recent exploration program on the Metemana-Metekavil area within its New Hanover project in Papua New Guinea. A new copper/gold porphyry system has been identified in the Randei prospect area, and Papuan is currently awaiting the results of geochemical analysis.
As quoted in the press release, highlights included:
- Gold-copper porphyry prospect identified by mapping and sampling over the 2km x 5km Randei prospect area and open to the coast.
- 32 mineralized samples comprising both outcrop grab and 5m channel samples were collected.Copper mineralization in the form of covellite, chalcopyrite, bornite, chalcosite and malachite were observed in these samples.
- 61 soil samples were collected over ridges and spurs at 50m spacing
- Follow-up activity being considering includes a grid-based soil sampling program to define drill targets
In 2014 Copper Fox Metals Inc. (TSXV:CUU) added approximately 1.8 billion pounds of copper as well as 140,000 ounces of gold contained within the Inferred resource category to its metal holdings.
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