Copper-Gold Exploration Project in PNG Available for Sale or Joint Venture
The Pagl Prospect is located 35 Km northeast of Mt Hagen with road access to the project boundary. It is a new discovery of porphyry-style mineralisation located in the New Guinea Mobile Belt. This belt hosts several large copper-gold deposits such as Grasberg, Frieda River, Ok Tedi and Wafi-Golpu.
Recent sampling and trenching has discovered significant mineralisation at surface. For example, one trench returned 52m @ 0.30 g/t Au, 0.155 % Cu including 10m @ 0.447 g/t Au, 0.361 % Cu and 12m @ 0.616 g/t Au, 0.158 % Cu. Grab samples assay up to 0.8g/t gold, 1.5% copper , 29ppm molybdenum and 5g/t silver. Most stream sediment samples (8 out of 10) returned >500ppb gold.
The setting is a porphyry intrusion. The alteration assemblage includes skarn, silica breccia, potassic and phyllic styles.
Local prospectors at the Pagl discovery outcrop
I have been engaged by the owner, Regional Resources PNG Ltd, to identify a partner to continue exploration of the project. The owner would prefer an earn-in joint venture, including drilling. However, other arrangement would be considered.
Please contact me for further information.