Papuan Precious Metals (CVE:PAU) said it received two additional assays from its Kuliuta copper-gold prospect on its wholly-owned New Hanover project, located in New Ireland Province, Papua New Guinea.
The drill holes tested the gold-bearing breccias located below the trenches within the La'mau'sing zone, which had displayed a gold-in-soil anomaly.
The La'mau'sing zone is located about 200 metres to the west-southwest of the zone that holes KUD007 to KUD011 had tested.
Earlier this month, Papuan said it would revise the assays from KUD007, as they did not correlate with the visual estimates, the company said. Discussions are underway with the company's assay laboratory in Australia to determine an alternative method of analysis to ensure reliable and accurate data.
Still, assays from KUD003 returned three metres at 0.49 grams per tonne (g/t) gold, and four metres at 0.9 g/t gold, including one metre at 1.37 g/t gold.
Meanwhile, KUD005 had intersected two metres at 0.14 g/t gold, one metre at 1.84 g/t gold, and one metre at 0.53 g/t gold.
Papuan said it believes that these results further exhibit the area's potential to represent a significant porphyry copper target.
Papuan said it is mainly convinced by the prospect's peripheral breccia swarms, some of which contain narrow gold and copper mineralizations, by its extensive near-surface oxidation, and the presence of primary native copper that varies in concentration from trace amounts to visual estimates.
Based in Kelowna, B.C., Papuan shares traded flat today, at $0.24.
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