South Pacific Minerals Corp.: Porphyry Copper/Gold Target Defined By Soil Geochemistry Kodu NW Prospect, Papua New Guinea.VANCOUVER, British Columbia -- South Pacific Minerals Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SPZ SPZ Schützenpanzer (German; armoured personnel carrier) SPZ spätzle (dorsoventral patterning, genetics) SPZ Simplified Planning Zone SPZ Socionet Personal Zone SPZ South Park Zone ) has undertaken grid-based soil sampling programs within EL 1348- Mt Bini in an attempt to define new porphyry copper/ gold and epithermal gold exploration and ultimately drilling targets. The Kodu NW Prospect is located immediately northwest of the Kodu porphyry copper/ gold/ molybdenum deposit and is separated from it by a ridgeline. The geomorphology geomorphology, study of the origin and evolution of the earth's landforms, both on the continents and within the ocean basins. It is concerned with the internal geologic processes of the earth's crust, such as tectonic activity and volcanism that constructs new , mineralisation potential and proximity of the Kodu NW area with the Kodu deposit is compelling. There are 2 prominent arcuate arcuate /ar·cu·ate/ (ahr´ku-at) arc-shaped; arranged in arches. ar·cu·ate adj. Formed in the shape of an arc. drainages from which visible gold has been panned that require immediate follow up. The drainages define a approximately 700m diameter circular feature, which is about the same size as the prominent Kodu Deposit hill, that is suggested to reflect a sub-surface, potentially mineralised intrusion. Fracture orientations in 'unroofed' intrusives often exhibit such concentric patterns. A typical Island Arc type porphyry copper/ gold 'core' is now evident in the interpretation of the soil geochemical anomalies from the approximately 1km x 1km Kodu NW soil grid, weakening peripherally to a halo of molybdenum, lead and zinc geochemistry. The copper and gold anomalous zones are relatively cohesive and coincident and are approximately 800m long and 500m wide. The general tenor of the copper and gold in soils is weaker than observed at Kodu itself where mineralisation is evident on surface. However, the Kodu NW Prospect is located at a higher elevation and this result would be expected if the intrusive has not yet been 'unroofed'. Gold and copper values varied as expected from near or below detection on the edges of the grid, up to 231ppb gold and 336 ppm copper in the core. Follow-up geological evaluation/ mapping and outcrop/ float sampling of the anomalous zone has commenced. Maps illustrating the copper and gold geochemical anomalies are presented on the South Pacific Minerals website. South Pacific Minerals is at the forefront of mineral exploration in Papua New Guinea Papua New Guinea (păp` ə, –y with an 85% interest in three porphyry copper/ gold +/- molybdenum and epithermal/ intrusive related gold exploration licenses, plus 5 EL applications covering a total area of approximately 7,500sq kms. Most of these properties have advanced stage projects with significant known gold +/- copper in trench and drill hole, with additional drill ready targets. The areas of the 3 ELs have recently been reduced as a normal matter of course, to comply with provisions in the PNG (Portable Network Graphics) A bitmapped graphics file format endorsed by the World Wide Web Consortium. It is expected to eventually replace the GIF format, because there are lingering legal problems with GIFs. Mining Act and it was also decided not to pursue the granting of 2 of the original group of 7 ELAs (Tanga Tanga (täng`gə, –gä), city (1994 est. pop. 190,000), capital of Tanga prov., NE Tanzania, a port on the Indian Ocean. It is a commercial, industrial, and transportation center, connected by rail with the interior of Tanzania. and New Hanover) for various technical, logistic and fiscal reasons. To find out more about South Pacific Minerals Corp. and its exploration projects, please visit our website at www.southpacificminerals.com. South Pacific Minerals Corp. P.A.McNeil, President / CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. M.Sc. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. South Pacific Minerals Corp. (TSX VENTURE:SPZ) |
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