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KUD007 Intersects 189m with Visible Copper at Kuliuta Gold-Copper Prospect
Company Statement:
Papuan Precious Metals is a gold and copper exploration company with properties in 's gold-copper porphyry belt and the Lihir-Tabar epithermal gold mineral belt, home of some of the richest gold deposits in the world.
Early Success at Kuliuta
The Company is currently drilling at its Kuliuta Prospect where its first two drill holes targeting the deeper porphyry potential have intersected visible native copper. Discovery hole KUD007 intersected 189m of porphyry copper style mineralization with visible copper from 112m downhole. Hole KUD008, a 100m step-out intersected 256m with visible copper mineralization. Assays are pending and further step-out drilling to follow.
Current Operations:
Papuan Precious Metals Corp has an interesting and exciting portfolio of porphyry, epithermal and hydrothermal Ni-PGE projects located at the eastern end of ’s porphyry belt and in the Lihir-Tabar mineral belt. PPM’s strategy is to acquire projects that are both geologically prospective and logistically easy to explore.
Tenements
https://www.papuanpreciousmetals.com/PPM_brochure_mar11.pdf
The company holds six Exploration Licences/Applications and is earning an interest in two Petromin PNG Holdings tenements in the . PPM’s early success with the identification of a ‘cluster’ of Au-Cu porphyry prospects in the Mt Suckling region, southeastern Papua, and some interesting epithermal gold prospects on New Hanover, has seen the company steadily shift its focus from the search for platinum group metals.
The recent discovery of oxidised breccia outcrop on New Hanover with over 9.5 % copper has changed the complexion of this project, opening up potential for porphyry-style Au-Cu mineralisation. The hydrothermal Doriri Creek nickel deposit, containing significant platinum group element (PGE) credits, remains a core PPM project, given the interest in ultramafic/mafic-hosted hydrothermal nickel deposits since the Avebury discovery in western .