Business
Initial Drilling Results at Lighthouse
Initial Drilling Results at Lighthouse.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4590B Papua Mining Plc 10 January 2018 \n\nThis announcement contains inside information\n \nPapua Mining plc\n(\"Papua\" or \"the Company\")\nDrilling intersects wide zones of near-surface gold and silver at Lighthouse, Australia\nPapua Mining (LON: PML), the gold and copper exploration company, is pleased to update shareholders with the initial results from the recent drilling program at its 100%-owned 'Lighthouse Gold Project' in Queensland, Australia. \n \nHighlights:\n· Wide zones of near-surface gold and silver intersected\n \n· Hole BPL002 - 22m @ 1.86g/t Au + 22g/t Ag (from 39m downhole) including 12m @ 2.45g/t Au and including 2m @ 8.87g/t Au;\n \n· The same hole (BPL002) also intersected 16m @ 10,945ppm Zn (1.1% Zn) from 129m downhole;\n \n· Hole BPL003 - 40m @ 3g/t Ag (from 55m downhole);\n \n· Hole BPL004 - 10m @ 1.37g/t Au + 12.4g/t Ag (from 129m downhole), including 2m @ 4.43g/t Au. These results occur within a wider, mineralised envelope of 18m @ 1.0g/t Au + 10.5g/t Ag from 119m downhole;\n \n· Assay results are still awaited from other holes drilled during November/December 2017. \n \nReverse Circulation drilling undertaken in December 2017 at the Plateau Prospect within the Lighthouse tenement, Queensland has returned wide intercepts of gold and silver mineralisation. Results from the first 4 holes have been received from ALS Laboratories in Townsville.\nTwo RC holes (BPL002 and BPL004) were drilled into the main line of mineralisation with the aim of increasing the depth and strike extension of gold/silver mineralisation which was identified from historical drilling. These holes have confirmed the validity of historical drilling results (from 30 years ago) and have also successfully increased the lateral and vertical extensions to the mineralisation.\nTwo holes (BPL001 and BPL003) were drilled off the line of mineralisation with the aim of definitively testing the east and west margins of a rhyolite dome which were previously thought to be unmineralised. Hole BPL001 intersected another gold lode (2m @ 0.83g/t Au + 9.2g/t Ag from 28m downhole) which now expands the explora...