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Marengo releases results for exploration drilling at Rima prospect in PNG

Staff Reporter | 8:36 PM | |
Marengo Mining Limited (Marengo) has announced the results of a recent sampling and drilling program at its Rima Prospect (Rima), as it continues to advance its Yandera copper project (Project) in Madang province.

According to a report released this week, Rima is located approximately 700 metres to the northwest of the western edge of the Imbruminda resource area that forms part of the Yandera copper project.

Rima was discovered in 2014 while geologists following up on work completed in 2008 and 2009 were mapping and sampling in creeks west of the Imbrum River.

Marengo said surface sampling of some creeks in the Rima area revealed elevated copper content in grab and channel samples. In late 2014, Marengo completed four drill holes (totalling 1004.6 metres) at Rima in search of higher grade copper mineralisation to complement the current Yandera resource. The company said the results confirm the presence of higher grade mineralisation, and one of the next phases of work is to constrain its limits.

"The results at Rima are encouraging and suggest the presence of additional domains of near-surface higher grade copper mineralisation that collectively, may enhance the current Yandera resource," said chief executive officer Pieter Britz.

"Given these encouraging results, we are not proceeding with the remainder of the previously announced 10-hole drill program. Rather, we are working towards completion of a more extensive field program during 2015, leading to a more comprehensive drill program in 2016. We remain enthusiastic about the potential of Rima and other similar prospects," Mr Britz added.

Source: Post Courier