Frontier Resources (ASX: FNT) and OK Tedi Mining have intercepted both narrow high grade gold and low grade porphyry gold and copper-gold at their Bulago joint venture in Papau New Guinea.
One of the two holes drilled on the Suguma prospect encountered five narrow gold mineralised zones with one intercept returning 13 metres at 27 grams per tonne (g/t) gold with 2,250ppm arsenic and insignificant silver and zinc.
Suguma still hosts three remaining zones with high grade gold from continuous chip outcrop channel samples and several additional areas of continuing interest.
The remaining well was drilled on the Bulago porphyry target. This and six other holes drilled on the target have intercepted low grade gold and copper.
OK Tedi will now collect all the data for modelling and interpretation before the joint venture decides on their future course of action in relation to EL 1595 - Bulago.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.