Business
PNG Copper: Announcement of Assay Results
Toronto, Ontario--(Newsfile Corp. - September 6, 2022) - PNG Copper Inc. (CSE: PNGC) ("PNG Copper" or the "Company") announces that assay results have been rece
About this update from Loyalist Exploration Limited
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - September 6, 2022) - PNG Copper Inc. (CSE: PNGC) (\"PNG Copper\" or the \"Company\") announces that assay results have been received from the first three drillholes of the recently completed four-hole drill program at the Doriri nickel-palladium-platinum prospect, Mt Suckling, Papua New Guinea. David Lindley, Interim CEO and responsible for the drilling of the present drillholes at Doriri and the previous 2012 drillholes, said, \"The three drillholes have extended known nickel-palladium-platinum mineralisation to depths of 80 m below the surface and confirmed continuity of mineralisation between the previously completed drillholes. The positive results will translate into an accelerated drill-out of the Doriri mineralisation.\" In addition, PNG Copper Director, Steve Balch of Canada Nickel noted, \"The drill results all intersected good nickel grades with PGM. An important next step will be to extend this success along strike. The exploration team has proven it can drill in this area and gets more efficient with every hole drilled.\" Drillhole DOD005 intersected a significant 10.25 m (51.80 m-62.05 m) width of nickel-palladium-platinum mineralisation grading 0.56 % Ni, 450 ppb Pd and 40 ppb Pt, including a 2.25 m interval grading 1.19 % Ni, 760 ppb Pd and 40 ppb Pt in the +520 m long Doriri lode. Drillhole DOD005 on Section 10040N was designed to provide a deep (60 m below surface) test below previously completed Costean IV, which assayed 7.00 m @ 0.66 % Ni, 1213 ppb Pb and 57 ppb Pt, and two previously completed cored drillholes (DOD001 and DOD002), both of which intersected the Doriri lode. Drillhole DOD006 intersected 11.60 m (11.55 m-23.15 m) grading 1.12 % Ni, 430 ppb Pd and 40 ppb Pt, including a 6.35 m (11.55 m-17.90 m) interval grading 1.43 % Ni, 481 ppb Pd and 40 ppb Pt (with a 0.85 m interval grading 2.43 % Ni, 1105 ppb Pd and 49 ppb Pt) and a footwall interval of 0.85 m (22.30 m-23.15 m) grading 1.26 % Ni, 118 ppb Pd and 10 ppb Pt. Drillhole DOD006 on Section 10025N was designed as a shallow test beneath the previously completed Costean III, which assayed 7.00 m @ 0.78 % Ni, 1011 ppb Pd and 92 ppb Pt, to establish the presence of the Doriri lode in the near surface. Drillhole DOD007 intersected 12.10 m (17.10 m-29.20 m) grading 0.93 % Ni, 503 ppb Pd and 45 ppb Pt, including a 2.28 ...