Nautilus says it’s found a second high-grade undersea copper deposit

- February 11th, 2011

Mining Weekly.com reports that Nautilus Minerals (TSE:NUS), which was awarded the world’s first deep-sea mining lease last month by the government of Papua New Guinea, said on Friday it has identified a second potential development project in the Bismarck sea.

Mining Weekly.com reports that Nautilus Minerals (TSX:NUS), which was awarded the world’s first deep-sea mining lease last month by the government of Papua New Guinea, said on Friday it has identified a second potential development project in the Bismarck sea.

The market news is quoted as saying:

“A deepwater exploration drilling campaign carried out at the Solwara 12 prospect, just 25 kilometres northwest of Solwara 1, discovered intersections of mineralisation at all five drill sites,” the firm said in a statement.

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