Mincor's PNG push

MINCOR Resources’ recent quarter progress in Papua New Guinea included a 1m intersection grading 14.35 grams per tonne gold at the Edie Creek project and landowner approval to set up a field camp at the promising Bolobip copper-gold project.
Mincor's PNG push Mincor's PNG push Mincor's PNG push Mincor's PNG push Mincor's PNG push

The standout high-grade but small intersection at Edie Creek started from a depth of 25m, while the next best recent result was 6m at 1.39gpt gold from a depth of 13m.

Two of the nine completed holes had no significant assays, while results were pending from two other holes and another was being drilled.

Weather and regulatory-related delays impacted drilling with Mincor's rigs at three other project sites in steeper terrain once access has been completed.

Following successful meetings with landowners at Bolobip village, Mincor has community approval to start field programs that include an induced polarisation survey during the March quarter to scope out drilling targets.

The Bolobip licence is 60km east of the giant Ok Tedi mine and a review of CRA's (Rio Tinto) previous work there has identified a 1km diameter copper-gold anomaly.

CRA was interested in this project in the late 1980s, but ultimately backed off from PNG during this time due to the difficulties it faced with the Panguna mine on Bougainville Island.

Mincor is earning up to 51% of Edie Creek and 72% of the Bolobip and May River projects in PNG under its joint ventures with explorer Niuminco.


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