Indo Pacific Resources Reports Progress on Exploration Licenses.PORT MORESBY Port Moresby (môrz`bē), town (1990 pop. 193,242), capital of Papua New Guinea, on New Guinea island and on the Gulf of Papua. Rubber, gold, and copra are exported. Port Moresby was founded by Capt. John Moresby, who landed there in 1873. , PAPUA NEW GUINEA--(BUSINESS WIRE)--April 24, 1997--Indo Pacific (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). IPF (Itanium Processor Family) See Itanium. .) Indo Pacific Resources Ltd. (IPF.ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) is pleased to report the following progress on its Papua New Guinea Papua New Guinea (păp`  ə, –y exploration licenses. HIGHLIGHTS Bowutu Mountains License - Access and trenching well progressed at Du River Prospect - Flat dipping vein and feeder identified - New area of mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. breccias identified and soil sampling near completion - Need for ground magnetics and IP before drilling - Initial reconnaissances of Simpoma and Kui Prospects completed Dawa Dawa License - Results of mapping in Ulo Ulo mine area - Weathering zone gold target - Bulldozing of more prospective areas planned for further mapping and sampling Sumwari License - Exploration License hearing completed - Full landowner support for extension of the term of the license - Field party commenced detailed mapping and sampling Star Mountains The Star Mountains are a mountain range in western Papua New Guinea, stretching from the border with Indonesia, at about to the Hindenburg Range. License - Brief reconnaissance planned to organize logistics for field work to commence shortly - Negotiations with several major companies to joint venture are progressing BOWUTU Bulldozer access has now been achieved into the main area of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. on the Du River Prospect of the Bowutu Mountains license, after bad weather and a series of on-going mechanical problems with the bulldozer on site resulted in fieldwork progressing more slowly than was expected. Bulldozing has commenced on the main soil anomaly located in the tint soil sample grid, and the eastern part of the anomaly has been successfully trenched, exposing a shallow dipping, undulating quartz vein which pinches and swells from less than 20 centimetres to up to 2 metres in thickness and which is disrupted by small scale movements on minor fractures keeping it close to the surface over an area of 70 metres by 30 metres. Samples from this area are in the laboratory awaiting assay. The bulldozer is at present trenching the western part of the soil anomaly where large sub-outcrop quartz-sulfide boulders are interpreted as being derived from a feeder to the vein. The two soil anomalies in the second soil sample grid have yet to be trenched. A third soil sample grid is now being completed several hundred metres north of the first grid and northeast of the second grid, over an area of scattered scree of strongly mineralized breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. thought to be derived from a breccia pipe, which is the source of a silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. breccia float boulder previously sampled assaying 146.9 g/t gold. The occurrence appears to trend northeast, towards the head of a small stream about 500 metres distant, where two boulders of similar breccia were recently sampled returning assays of 6.2 and 15.9 g/t gold. In addition to the above progress in the main prospect area, reconnaissance sampling of float in a stream one kilometre to the southeast across the main ridge
Because of the complexity of the mineralization being revealed by detailed geological mapping and the bulldozing, the Company intends to conduct ground magnetics followed by induced polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is before laying out drill sites. First reconnaissances of the Simpoma and Kui Prospects have been completed and the Company is awaiting assay results. The Bowutu Mountains exploration license is joint ventured with Aurient Resources Ltd., (AUN.ASE) which is spending $500,000 on the property to earn a 50 percent interest in the license. DAWA DAWA The results of Indo Pacific's geological mapping in the Ulo Ulo mine area within the Dawa Dawa exploration license indicate that mineralization on this prospect occurs in a northeast trending zone of structural weakness in granodiorites and gabbros, principally as steeply dipping sub parallel pyritic py·rite n. A brass-colored mineral, FeS2, occurring widely and used as an iron ore and in producing sulfur dioxide for sulfuric acid. Also called fool's gold, iron pyrites. quartz veins mostly less than 40 centimetres wide but up to 1.5 metres wide and associated breccias and stockworks. A strike length of the zone of at least 600 metres is indicated by the results of soil sampling by Amax in the mid 1980's in the central and northeastern part, where the indicated width is up to 100 metres, and by the results of adit mapping and sampling by Indo Pacific in the central and southwestern part. Assays from a stockwork structure 20 metres wide in an adit at the southwestern limit of the survey included a 10 metre width of 3.7 g/t gold. Weathering is deep and assays of limonitic veins mined along short drives by the old-time miners include 30 centimetres at 11.5 g/t gold, 25 centimetres at 24.5 g/t gold and grab sample Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole results up to 29.2 g/t gold. The Company considers the Ulo Ulo and Mt. Haluba Prospects in the Dawa Dawa license to be particularly favorable for the development of easily mined and treated weathering zone gold deposits. Bulldozing is planned to open the area up for further detailed mapping and sampling. SUMWARI In the Sumwari exploration license, a Warden's Hearing has been completed on site and the Company has the full support of landowners for the extension of the term of the license. The annual wet season is almost finished in this part of the country and a field party has commenced detailed geological mapping and geochemical sampling in the principal area being worked for abundant coarse alluvial gold by landowners. The Company believes from an examination of the gold that it is secondary, shedding from within the thick weathering profile and indicating a large leached cap gold target. STAR MOUNTAINS A brief reconnaissance is to be undertaken in the Star Mountains exploration license to plan and organize logistics for fieldwork to commence shortly. The Star Mountains license is made up of two separate sections, the Tabubil area and the Bolovip area. The Tabubil area is located adjacent to the West Irian border and is centered 15 kilometres south of the Ok Tedi mine This article is about the Ok Tedi Mine. For the River, see Ok Tedi River. The Ok Tedi Mine is located near the headwaters of the Ok Tedi River, in the Star Mountains Rural LLG of the North Fly District of the Western Province of Papua New Guinea. (which produces 200,000 tonnes of copper and 350,000 ounces of gold annually), in which the main target is an indicated large near-surface porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. copper-gold system. The Bolovip area is located 50 kilometres to the east, and also is marked by widespread porphyry copper-gold mineralization, where channel sampling of trenches hand-dug in weathered bedrock by CRA See Community Reinvestment Act. Exploration in the mid 1980's produced assays up to 35 metres averaging 1.25 g/t gold and 95 metres averaging 1.5 g/t gold, suggesting the possible presence of a gold cap such as existed at Ok Tedi. Negotiations are progressing with several major companies who have expressed interest in joint venturing this license. Indo Pacific Resources Ltd. is a mineral exploration and development company that seeks to identify and exploit precious and base metal opportunities in Southeast Asia. The Company's focus is Papua New Guinea, a country renowned for its world class gold and copper mines. Indo Pacific holds more than 5,500 square kilometres of prospective ground in 12 exploration licenses including two joint ventures and is a joint venture partner in one application for a new license over approximately 1,000 square kilometres. Interesting gold occurrences have been identified in every license, with several also showing significant copper potential. CONTACT: Indo Pacific Resources Ltd. Bruce Macdonald, 403/ 543-2590 or Indo Pacific Resources Ltd. Allan Dolan, 403/ 543-2590 or Indo Pacific Resources Ltd. Peter Macnab, 011/675-693-7208 (5:00 to 7:00 pm EST EST electroshock therapy. EST abbr. electroshock therapy ) |
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