Airborne EM for Porphyry Copper-Gold in Papua New Guinea @ Exploration Geophysics Info

Airborne EM for Porphyry Copper-Gold in Papua New Guinea

This entry was posted by Thursday, 28 June, 2012
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Goldminex Resources Limited updates on recent exploration activities at the Liamu Project in PNG.
Goldminex is focused on the discovery of greater than 2Moz gold or gold equivalent deposits in Papua New Guinea and has extensive prospective tenement holdings consisting of Exploration Licences and Exploration Licence Applications covering 10,754km2.
LIAMU PROJECT (EL 1606) (Goldminex/Vale JV)
The Liamu Project is located 120km east of Port Moresby within the Owen Stanley Region of PNG. Goldminex’s initial exploration work defined the Liamu intrusive complex and several prospects within it. Vale identified Liamu as a high priority target and moved quickly to commence drilling following the signing of the Farm-in Agreement.
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HIGHLIGHTS:
 The Liamu Project has 11 prospects exhibiting surface indications of porphyry copper-gold mineralisation within a 35 km2 area.
 3,292m of a planned 4,000m program have been completed in six holes.
 Prospects drilled include Movei, Nesei, Unebu, Iyiowai and Maoba.
 Low-grade copper mineralisation in Maoba hole MABDH002 developed over a 151m interval from 153m depth including the following intersections;
o 59m @ 0.16% Cu from 186m to 245m
o 24m @ 0.21% Cu from 189m to 213m
 Drill results support the potential for Liamu to host a significant copper-gold porphyry system.
 Drill rig remains on site in anticipation of additional drilling in the near term pending results from ongoing investigations.
Ten prospects have been identified by surface geochemsitry at Liamu to date. These are Nesei, Movei, Tikay, Dada, Unebu and Berefana, all within the 5.5km x 1.5km alteration zone known as the Berefana Region, and Imorobi, Biafa, Bubuafu and Iyiowai to the north and east. An eleventh prospect, known as Maoba, is a ZTEM geophysical survey target.

A 4,000 metre diamond drilling program commenced in November 2011 has produced encouraging results at the Movei, Nesei, and Unebu Prospects and, in early 2012, a ZTEM geophysical survey was completed over the Liamu and Jog Project areas.
Maoba Drill Hole – MABDH002

Hole MABDH002 at the Maoba Prospect targeted coincident strong conductor and magnetic anomalies identified by a ZTEM survey completed in January 2012.
ZTEM conductor beneath surface topography showing the trace for MABDH002.
Assay results have been received for the majority of the hole and include the following:
 59 metres @ 0.16% Cu from 186 metres
 24 metres @ 0.21% Cu from 189 metres
The lithology of the above zone was a medium grained pale grey – green, intermediate volcaniclastic unit. Within this volcanic unit were moderately dark grey un-mineralised shoshonitic dykes. The volcaniclastic contains polymict crackle and fluidised, milled breccia zones throughout, Plate 2. Clasts within the breccia were uniformally barren with very fine grained sulphides present in the matrix. Alteration was mainly chlorite – silica – magnetite with areas of intense clay alteration.
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