Business
Commencement of Drilling
Commencement of Drilling.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2566X Papua Mining Plc 22 November 2017 \n\n \n22 November 2017\nPapua Mining plc\n(\"Papua\" or \"the Company\")\nDrilling Commences at the Lighthouse Gold Project, Australia\nPapua Mining (LON: PML), the gold and copper exploration company, is pleased to inform shareholders that it has commenced drilling at the Plateau Prospect, part of the Lighthouse Gold Project (the \"Lighthouse Project\") in Queensland, Australia.\nExpected Drill Programme:\n· Drilling has now commenced at the Plateau prospect. Twelve (12) reverse circulation drill holes totalling 2,175 metres are planned for this initial phase of drilling; \n \n· The deepest hole planned is 250 metres whilst the shallowest is expected to be around 70 metres deep; and\n \n· The aim of this initial drill programme is to infill between existing drill holes, extend along strike from existing drill holes, and undertake exploration drilling of several new targets.\n \nChief Executive Officer of Papua Mining, David Price commented: \"Our field crew has worked hard to achieve a start to drilling at this late stage in the field season. Management is enthusiastic about the prospects of success at Plateau which is the first of many targets to be drilled at Lighthouse. We are excited to be underway with drilling and look forward to updating the market with drilling progress.\"\nAbout the Plateau Prospect within the Lighthouse tenement:\nMore than 4,500 metres of historic drilling has been completed within the Lighthouse Project tenement, which comprises a number of individual prospects including; Plateau, Double Event, Bluff Creek, Lower Lighthouse and Cardigan Dam prospects.\nSome of the better historical drilling intersections at Plateau include 89m @ 1.6g/t Au and 44.5g/t Ag from 61m (hole PL102), 11m @ 2.0g/t Au and 14.3g/t Ag from 44m (hole PLP127) and 8m @ 3.4g/t Au and 10.1g/t Ag from 39m (PLP130).\nA single, deep hole drilled by Newcrest Mining in 2007 intersected 4m @ 0.70g/t Au and 2.2g/t Ag from 643m (hole PLDD06001) more than 500m directly below the drilled near surface gold mineralisation.\nThe Lighthouse Project is located 50km southeast of the important gold mining centre of Charters Towers (+6Mozs gold), 20km east of the Mt Leyshon Gold Mine (4Moz gold o...