Using a combination of airborne magnetotelluric (MT) lineament analysis and magnetic and very low frequency (VLF) imagery, Tolu Minerals Ltd has drawn up a pipeline of promising targets at the Tolukuma Gold-Copper Project in Papua New Guinea.
The company will move to ground exploration and drill testing to investigate near-surface epithermal gold targets over the mine site and surrounding prospects, as well as high sulphide gold-copper lodes beneath the existing mine.
TOK has also identified several feeder zones in the existing mine area that hold potential for porphyry gold-copper mineralisation.
A total of 38 priority mineral targets have been identified, including seven porphyry-style geophysical signatures to be further assessed and additional epithermal-style gold-silver targets.
The company says the new targets point to the potential of the project area, which could be host to “substantial” new high-grade copper-gold precincts.
Survey reveals high-priority targets
“It is pleasing to see the modelled results from the Tolukuma Airborne MT survey producing a series of epithermal and porphyry mineral targets in previously underexplored areas, both in the mining lease and within our extensive portfolio of exploration licences,” Tolu Minerals managing director and CEO Iain Macpherson said.
“The airborne MT is proving to be an invaluable tool in defining high-priority targets to a level of detail that was previously not possible and will have a profound effect on Tolu’s exploration and growth strategies.
“Numerous additional epithermal vein lineament targets have now been identified. In addition, high sulphide-style gold and base metal vein signatures have been identified beneath the existing mine.
“Tolu has applied for three additional exploration licences covering 258.44 square kilometres over airborne MT areas of interest, further demonstrating the effectiveness of this geophysical technique in rapidly and cost-effectively identifying areas for priority exploration and discovery of gold and base metal deposits.
“Tolu is now positioned as an important explorer and operator in what could be one of the great gold/copper provinces of the world.
“Tolu continues to assess these results and is revising its exploration strategy and plans in order to accelerate targeted exploration both on mine and regionally to help define substantial gold/silver and gold/copper resources.”
TOK is building an overall exploration strategy for both near-mine production expansion and new discovery exploration based on the new information available through its survey activities.