Frontier Resources (ASX: FNT) and joint venture partner Ok Tedi Mining have intercepted 697.6 metres of copper mineralisation grading 0.26% at the Esis Porphyry Copper prospect in Papua New Guinea.
The diamond drill hole was designed to twin and extend a hole drilled in 1973 by BHP Billiton, which reported an average of 0.39% copper from surface to end of hole at 152.6 metres.
Overall, Frontier Resources’ drill hole assayed at 697.6 metres at 0.26% copper, 23 parts per million (ppm) molybdenum, 0.03 grams per tonne (g/t) gold and 0.5g/t silver from 0 metres; including:
- 20 metres at 0.52% copper, 157ppm molybdenum, 0.04g/t gold and 0.7g/t silver from 192 metres;
- 14 metres at 0.5% copper, 46ppm molybdenum, 0.05g/t gold and 0.7g/t silver from 164 metres; and
- 130 metres at 0.44% copper, 56ppm molybdenum, 0.04g/t gold and 1g/t silver from 82 metres.
Of the assays, 96% graded at or above 0.1% copper.
Although gold and silver assay values were economically insignificant, they did have a positive correlation with the copper and molybdenum mineralisation.
The drill hole was terminated in mineralisation, amid chalcopyrite veining that assayed at 0.41% copper. Magnetite and biotite alteration is increasing with depth.
Four drill holes have now been completed at the Esis prospect, with two in progress.