Business
Exploration Licence Application at Lighthouse
Exploration Licence Application at Lighthouse.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6850W Papua Mining Plc 16 November 2017 \n\n \n16 November 2017\nPapua Mining plc\n(\"Papua\" or \"the Company\")\nExploration Licence Application at the Lighthouse Gold Project, Australia\nPapua Mining (LON: PML), the gold and copper exploration company, is pleased to inform shareholders that it has recently applied, through its 100% owned subsidiary BGM Investments Pty Ltd, for a new strategic and highly-prospective exploration licence (EPM 26705) immediately adjacent to its 100% owned Lighthouse Gold Project (the \"Lighthouse Project\") in Queensland, Australia. The award of the licence is subject to formal grant by the Queensland Department of Resources and Mines.\n \nHighlights:\n· New tenement application (called Kookaburra Tenement), borders the Company's Lighthouse Project and, when granted, will increase the available exploration potential by 239 square kilometres immediately surrounding the Lighthouse Project;\n \n· This application, comprising 5 separate areas, includes an historically-mined gold line-of-lode immediately north of the Lower Lighthouse prospect and the western strike extension of the Double Event Prospect;\n \n· A new target called the Kookaburra Prospect is incorporated in the new application. Kookaburra, (a porphyry Cu/Mo prospect), is positioned on what is interpreted as the eastern rim of a large intrusion. Previous soil sampling has identified anomalous Au/Cu/Mo over an area exceeding 1.2 km2;\n \n· The G-38 Prospect also falls within the area under application. This prospect is a breccia system, (similar to Plateau), with historical rock sampling returning highest values of 3.6g/t Au and 701g/t Ag. \n \n· More than a dozen historical workings which are prospective for gold and copper occur inside the new application tenement including, Upper Lighthouse, Lower Lighthouse (northern lode), Spur, Cameron, Cornishman, Crowes, G-38, Native Bee, Kookaburra, Hill 308, Buckles North, Bluff East, Brook, Coolan South, Coolan North Prospects, along with an additional 22 un-named, historical gold workings.\nAn image showing the outline of Lighthouse and the new application is available at the link below.\n&nbs...