Source: PNG Copper
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • PNG Copper (PNGC) released assay results from the final drill hole of its program at the Doriri nickel-palladium-platinum prospect
  • Drillhole DOD008 intersected a 14.10 metre (13.35 metre to 27.45 metre) width of nickel-palladium-platinum mineralization grading 0.72 per cent Ni, 455 ppb Pd and 77 ppb Pt
  • Best intersection – 10.70 metres of 1.78 per cent Ni, 0.67 g/t PGM in DOD003 from 2.80 metres
  • PNG Copper Inc. (PNGC) is trading steady at C$0.05 at 10:45 am ET

PNG Copper (PNGC) released assay results from the final drill hole of its program at the Doriri nickel-palladium-platinum prospect.

Doriri is an accumulation of nickel, palladium, and platinum located at Mt Suckling in southeastern Papua New Guinea. It is a shear zone-hosted oxide-rich deposit, and there is no other documented mineral occurrence with similar geology. 

Drillhole DOD008 intersected a 14.10 metre (13.35 metre to 27.45 metres) width of nickel-palladium-platinum mineralization grading 0.72 per cent Ni, 455 ppb Pd and 77 ppb Pt, including a 4.30-metre interval grading 1.17 per cent Ni, 800 ppb Pd and 146 ppb Pt.

Source: PNG Copper Ltd.

Highlights:

  • Best intersection – 10.70 metres of 1.78 per cent Ni, 0.67 g/t PGM in DOD003 from 2.80 metres
  • All eight holes intersected significant nickel and platinum-palladium
  • Airborne and ground magnetics suggests 650 metres of continuation to the east
  • Preliminary metallurgy study planned to test for recovery of Ni, Pt, Pd
Source: PNG Copper Inc.

Interim CEO David Lindley said that the results from DOD008 continue to indicate the presence of encouraging nickel-palladium-platinum-cobalt mineralization at Doriri.

“The mineralization in DOD008 is associated with a long interval of brecciation and rhythmically interlayered nickel-chlorite and magnetite, textures typically found in low-temperature epithermal systems and consistent with Doriri being a truly unique accumulation of metals. Nickel, palladium, platinum and cobalt are all metals of the ‘new economy, belonging to either of the battery, magnet, specialty or critical material categories.”

PNG Copper is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea.

PNG Copper Inc. (PNGC) is trading steady at C$0.05 at 10:45 am ET.


More From The Market Herald
Aston Bay Holdings Inc. - CEO, Thomas Ullrich.

" Aston Bay (TSXV:BAY) finds new copper-zinc mineralization

Aston Bay Holdings (BAY) has confirmed a mineralization discovery from hole ST22-10 at the Storm Copper Project in Nunavut.

" Central Iron Ore (TSXV:CIO) files new technical report

Central Iron Ore (CIO) has filed a new technical report for its South Darlot Gold Project.

" Silvercorp Metals Inc. Confirms Its Golden Potential with a Reserve and Resource Update

By Dr. Ryan D. Long

" KLIMAT X Developments (TSXV:KLX) closes acquisition

KLIMAT X Development (TSXV:KLX) has closed its acquisition of carbon credit development rights.