Drilling to restart at PNG's Yandera copper project

DRILLING at the Yandera copper project in Papua New Guinea’s Madang Province is expected to restart in the “near term, barring delays due to the rainy season”.
Drilling to restart at PNG's Yandera copper project Drilling to restart at PNG's Yandera copper project Drilling to restart at PNG's Yandera copper project Drilling to restart at PNG's Yandera copper project Drilling to restart at PNG's Yandera copper project

This is the good news from Toronto Stock Exchange-listed Era Resources, which has been encouraged to push ahead with drilling after having received results from the proximal surface exploration program completed there recently.

The company said that during the latter portion of 2015, geologists mapped and collected 543 rock and 581 soil samples from areas around the footprint of the resource estimate announced in May of 2015.

"This field work was designed to identify prospective zones outside the limits of the 2015 resource and to develop quality drill targets to expand the resource.

"Results from this work show copper mineralisation at surface in the Kauwo, South Dimbi-East Gremi and Benbenubu prospect areas, where a number of assays from samples indicated copper concentrations in excess of 0.15% copper in soils and 0.5% copper in rocks.

"These results enhance historical surface geochemistry and are encouraging for expanding the edges of the resource into these prospects, especially in the area southeast of Gremi and Omora," the company said.

Detailed work on the geologic model and further analysis of the 2015 resource estimation revealed opportunity to in-fill some gaps within the constraining pit model with additional drilling. Era anticipates drilling about 6000m of core to add data to some of these gaps.

"Positive results in these areas would allow conversion of some of the in-pit waste to ore and could allow pit access to known deeper copper mineralisation," Era said.

In addition to the in-fill drilling, Era expects to drill about 2500m of core to test for extensions of copper mineralisation outside of the resource in prospective areas examined in the 2015 proximal surface program.

"Positive results in these areas would expand the footprint of the 2015 resource pit and add total tonnage to the overall resource," the company said.

On May 5 last year, Era Resources' predecessor Marengo Mining released an updated resource statement for Yandera. Measured and indicated resources totalled 630 million tonnes at 0.33% copper, 0.01% molybdenum and 0.07ppm gold - or a copper equivalent of 0.41% copper.

Inferred resources total 117Mt at 0.30% copper, 0.005% molybdenum and 0.05ppm gold for a copper equivalent of 0.34% copper.

Total resources represent contained metal of 2.103Mt copper, 62,000t molybdenum and 1.439 million ounces of gold.

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