With the aid of an induced-polarization (IP) survey, Nord Pacific (NPF-T) has intercepted high-grade gold values at its Tabar Islands project in Papua New Guinea.
The company initiated the survey over Simberi Island in early 1997 to identify areas of potential sulphide mineralization.
Based on the survey data gleaned, Nord drilled more than 150 reverse-circulation drill holes on several prospects, many of which targeted near-surface oxide mineralization.
Nord had planned to develop the project based on a small oxide reserve, though, with a weak gold price, the company decided to delay construction and explore also for deeper sulphide targets.
Highlights from the Botlu prospect include:
* hole 726, which intercepted 102 metres of both oxide and sulphide gold mineralization grading 2.83 grams gold per tonne, including 35 metres of sulphide mineralization from a depth of 62 metres to 97 metres grading 5 grams;
* hole 698, which encountered 61 metres from the surface grading 1.64 grams; and
* hole 699, which hit 19 metres of 4.47 grams from the surface.
Highlights from the Pigicow prospect include:
* hole 743, which intersected 19 metres of oxide mineralization from 17 to 36 metres grading 2.31 grams gold;
* hole 747, which hit 20 metres of 1.43 grams; and
* hole 752, which returned 11 metres of sulphides grading 3.56 grams.
At the Bekou prospect, hole 765 intersected 34 metres (from 57 to 91 metres) of sulphides grading 4.8 grams gold, while, at the Pigibo prospect, hole 782 returned 37 metres of oxides grading 2.55 grams.
Pierce Carson, Nord’s chief executive officer, says the drill results from the deeper zones confirm his belief that there is potential for large zones of sulphide gold mineralization on the island.
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