By relying more heavily on higher-grade sulphide mineralization, Nord Pacific (NPF-T) has doubled the gold resource at the Simberi Island project in Papua New Guinea.
The company now pegs the deposit’s measured, indicated and inferred resources — much of which are in the underlying sulphide mineralization — at 29 million tonnes grading 1.6 grams gold per tonne, for 1.49 million oz.
gold.
The new resource includes 9.3 million tonnes of sulphide material grading 2.5 grams gold (for 747,000 oz. gold) added to 19.7 million tonnes of near-surface oxide (saprolite) material grading 1.2 grams gold per tonne (for 740,000 oz. gold).
The resource calculations incorporate 21,000 metres of drilling completed in 1997.
Nord President Pierce Carson, believes there is room for significant expansion of the sulphide resource, based on the number of higher-grade intercepts in the hard-rock mineralization. The company is also examining the possibility of underground mining to access this higher-grade mineralization.
The deposit is a caldera-hosted deposit in a geologic environment similar to that of the Lihir gold mine, which is situated in the same island chain, the Tabar Islands.
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