Marengo strengthens ‘starter’ zone at Yandera
THE DRILL SERGEANT: Marengo Mining has received a series of broad, near-surface high-grade copper intersections from drilling being undertaken at the company’s Yandera copper-molybdenum-gold project in Papua New Guinea.
The latest results come from the project’s Omora and Imbruminda zones and form part of an ongoing program of resource in-fill drilling being undertaken at Yandera.
Yandera central porphyry system – drill location plan. Source: Company announcement
Results included the following high-grade intersections:
Omora Zone:
– 126 metres at 0.92 per cent copper, 700 parts per million molybdenum from 30 metres;
– 159m at 0.90 per cent copper, 303ppm molybdenum from 42m;
– 186m at 0.80 per cent copper, 1449ppm molybdenum from 42m;
– 72m at 0.83 per cent copper, 392ppm molybdenum from 378m; and
– 165m at 0.67 per cent copper, 284ppm molybdenum from 39m.
Imbruminda Zone:
– 150m at 0.68 per cent copper, 198ppm molybdenum from 87m;
– 114m at 0.51 per cent copper, 80ppm molybdenum from 3m; and
– 93m at 0.49 per cent copper, 97ppm molybdenum from 24m.
The results include some of the highest grade intersections recorded at Yandera – where Marengo has completed over 145,000m of diamond drilling as part of resource development activities.
“It’s great to see results like this come from our ongoing in-fill drilling programs at Yandera,” Marengo Mining managing director and CEO Les Emery said in the company’s announcement to the Australian Securities Exchange.
“The recent drilling has returned individual intersections of up to 186 metres and grades in some instances of close to one per cent copper – double the average resource grade of the project, and among our best ever drill results.
“These intersections from Yandera provide further evidence of the potential of the Yandera project, both through its long life mining potential as well as identified higher grade initial production areas.
“The high-grade ‘starter’ zones we continue to delineate are of great strategic importance to the project, as they have the potential to enhance returns in the early years of operations and accelerate capital payback.”
The company said the latest results fall within the resource envelope for its recently updated JORC/NI 43-101 compliant resource estimate for Yandera.
At a 0.25 per cent copper cut-off grade the Resource comprises 248 million tonnes grading 0.43 per cent copper Measured and 114Mt grading 0.42 per cent copper Indicated for a total Measured and Indicated Resource of 362Mt grading 0.43 per cent copper for 3,407 million pounds of contained copper.
Inferred Resources currently total 218Mt grading 0.37 per cent copper for 1,778Mlbs of contained copper.
Marengo said the results are not expected to be included in a further resource update prior to the completion of the Yandera Feasibility Study.
It did, however, indicate they do provide further evidence of the presence of high-grade, near-surface zones which the company expects to enhance revenues and cash flows from mining in the early years of the targeted 20 year operations at Yandera.
