Canadian Mining Journal

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VMS EXPLORATION: Assays confirm grades from undersea Solwara discoveries

PAPUA NEW GUINEA - Nautilus Minerals of Toronto says assays have confirmed the base and precious metals conten...


PAPUA NEW GUINEA – Nautilus Minerals of Toronto says assays have confirmed the base and precious metals content of samples taken from the floor of the Bismarck Sea off the coast of Papua New Guinea. Separate grab samples averaged 0.685% Cu, 38.700% Zn, 0.410% Pb, 1.58 g/t Au and 112 g/t Ag from Solwara 11i; 1.399% Cu, 19.194% Zn, 0.039% Pb, 3.32 g/t Au and 97 g/t Ag from Solwara 14; 2.142% Cu, 18.372% Zn, 0.033% Pb, 2.82 g/t Au and 105 g/t Ag from Solwara 16; and 0.304% Cu, 19.550% Zn, 1.208% Pb, 0.19 g/t Au and 110 g/t Ag from Solwara 18.

Nautilus is the first company to systematically explore the sea floor for polymetallic massive sulphide deposits. Its main focus is the Solwara 1 project which was granted its final environmental permit for development earlier this year.

A map of the discovery areas is posted at www.NautilusMinerals.com/i/misc/Figure1_DiscoveryLocationMap.pdf.