Thursday, 12 April 2012

Papuan Precious Metals expands current drill program at Doriri Creek

Papuan Precious Metals Corp. (CVE:PAU)(OTCQX:PAUFF) said Wednesday it will extend its drilling program by two holes at its Doriri Creek nickel-palladium-platinum prospect at its Mt Suckling project in Papua New Guinea.
The current two-hole, 150 metre drill program testing the nickel mineralogy that is accompanied by high concentrations of phosphorous minerals, palladium and platinum will be expanded to a total of four holes.
The company said the move was based on initial positive observations from core. Assays are expected to be released in the coming weeks, Papuan added.
The Mt Suckling project is comprised of the Urua Creek, Araboro Creek, and Ioleu Creek porphyries, as well as the Dimidi Creek potassium anomaly and the Doriri Creek hydrothermal prospect.
It covers two exploration licenses over 316 square kilometres at the eastern end of the Central New Guinea Range, one of the world's most prolific porphyry copper and precious metals belts.
In February, the junior mineral explorer unveiled partial results from the uppermost 79 metres of the discovery hole at the Urua Creek prospect.
Among the highlights, hole URD002 hit 70 metres grading 0.10% copper from eight to 78 metres and returned 6.65 metres of 0.77% copper and 1.84 grams per tonne of gold (g/t) from 208.85 metres to 215.5 metres. This includes 1.10 metres of 2.16% copper and 9.60 g/t gold.

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