Misima drilling ends on a high note

THE COMPLETION of a scout drilling program at the Misima prospect has prompted WCB Resources to update investors on its exploration efforts in Papua New Guinea.
Misima drilling ends on a high note Misima drilling ends on a high note Misima drilling ends on a high note Misima drilling ends on a high note Misima drilling ends on a high note

Launched mid-September last year, the reconnaissance scout drilling targeted a strong magnetic anomaly beneath a 1km area of copper anomaly. Five holes were drilled for the program, with each intersecting porphyry style alteration and fracturing.

Consulting geologist Simon Meldrum said the anomaly was part of an exhumed deep seated porphyry complex. He said the interpretation of the data suggested geological and geochemical vectors pointed to a concealed porphyry style target on the southern side of the Umuna fault.

Previous drilling by Misima Mines said there was evidence of increasing copper at depth; however, evaluation of the target was ongoing and was anticipated to be completed in early May.

"What attracted WCB to Misima was the significant size of this system and the potential metal content," company president and CEO Cameron Switzer said.

"This system has already had over 5.6 million ounces of gold and 50 million ounces of silver defined.

"WCB has been systematic in the exploration approach but now having the capacity to vector towards the interpreted central area following Mr Meldrum's advice and interpretation is a significant step forward.

"This interpretation potentially allows for the drill testing of the porphyry target at depth along with the gold resource. In the meantime we continue to evaluate the Quartz Mountain Prospect."

As one of two porphyry alterations centres on exploration licence EL1747, the Misima prospect's current outcrop exposure level is in the outer zone of a copper-gold system, with surface data defining an area with footprint of over 1 million tonnes per vertical metre with an average grade of 0.37 grams per tonne gold, 866 parts per million copper, and 3.1 grams per tonne silver.


Most read Regions

  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more

Most read Regions