- Frontier Resources (FNT) has identified four gold prospects for follow-up near the Tolukuma mine in Papua New Guinea
- These prospects were recommended for follow-up during an independent analysis of historical surface sampling and geological mapping
- The Diakoku, Ijav, Evese and Hoyu prospects are located between seven and 12 kilometres east and southeast of the mine
- Historical work conducted by Newmont and Tolukuma Gold Mines identified copper-gold potential
- Company shares are trading flat at 1.5 cents in mid-afternoon trade
Frontier Resources (FNT) has identified four gold prospects for follow-up near the Tolukuma mine in Papua New Guinea.
The Diakoku, Ijav, Evese and Hoyu prospects are located between seven and 12 kilometres east and southeast of the mine. They were recommended for follow-up during an independent analysis of historical surface sampling and geological mapping.
The Diakoku
Newmont discovered the prospect in 1989 which led to the discovery of a one-to-10 metre wide gossanous structure. Trench results include 3.6 metres at 2.95g/t gold including 1.6 metres at 5.2g/t gold.
Trench sampling also exposed a silicified zone that averaged 2.62g/t gold and 250 parts per million copper over nine metres. The prospect was interpreted as high-sulphidation-style copper-gold mineralisation that may be located above a porphyry system.
The Evese
The Evese prospect occurs 12 kilometres southeast of Tolukuma and was selected for sampling by Tolukuma Golf Mines (TGM) in 2007.
Historical field work includes 23 kilometres of creek geological mapping and 52 rock chip samples which were anomalous in gold between 0.1 and 0.42g/t gold.
Further sampling is recommended to define potential targets for trench sampling.
The Hoyu
Hoyu is located in the upper Hoyu River about six kilometres east of Tolukuma.
TGM conducted reconnaissance exploration in 2000 which included 4.6 kilometres of geological mapping and 43 rock chip samples. Best assays include 0.2g/t gold, 1.44g/t silver, 46.1 parts per million (ppm) copper, 90.4 ppm lead, 144 ppm zinc and 16.5 ppm antimony.
The Ijav
Ijav is located nine kilometres southeast of the Tolukuma mine and was discovered in 1987 during sampling work. Nine of the samples were weakly anomalous containing more than two parts per billion gold and three weakly anomalous drainages are defined.
Rock chip sampling returned best results of 1.11g/t and 0.59g/t gold. Six rock chip samples have arsenic values above 120 ppm and the highest copper assay was 170 ppm.
Company shares are trading flat at 1.5 cents in mid-afternoon trade.