South Pacific Minerals Corp.: SPZ Cuts 62m Grading 0.46% Copper + 0.60g/t Gold + 73ppm Molybdenum from 62m Depth, Being Approximately 0.73% Copper Equivalent.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- 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:SPX (Sequenced Packet EXchange) The transport layer protocol in the NetWare operating system. Similar to the TCP layer in TCP/IP, it ensures that the entire message arrives intact. SPX uses NetWare's IPX as its delivery mechanism. ) - Assay results for drill hole KD004 are reported herein for the Kodu 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-Molybdenum Deposit, Mt Bini Project, located approximately 50km northeast of 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 Papua New Guinea (păp`  ə, –y .KD004 was collared at the northern/ north-eastern end of the known mineralised zone at Kodu to test for extensions to the mineralisation in that direction. The area is coincident with a strong analytical signal anomaly and altered diorite diorite Medium- to coarse-grained igneous rock that commonly is composed of about two-thirds plagioclase feldspar and one-third dark-coloured minerals, such as hornblende or biotite. porphyry was exposed during construction of an access track to the drill site. Hole KD 004 Cuts 156m Grading 0.37% Copper + 0.46g/t Gold + 93ppm Molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. from 12m depth at the Kodu Deposit, Papua New Guinea Together with historic drill hole BND BND In currencies, this is the abbreviation for the Brunei Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 005 and previous drill hole KD 003, results from KD 004 indicate a mineralised zone with a horizontal width in the order of 175m on cross section. A 600m strike length to the Kodu mineralised zone has now been established with the zone still open to the south and at depth. The copper-gold-molybdenum mineralisation in hole KD 004 commences at approximately 12 downhole and continues to the end of sampling at 170m depth (last assay from 168-170m was 0.14% copper). Weighted assay averages for different sub-zones are tabulated below with coordinate and assay details for all drill holes. Sampling /assaying was completed at 170m, leaving the last 25m of the hole unsampled. Assay results for holes KD 001, KD 002 and KD 003 have been reported previously.
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AGD66, Zone 55
Coordinates Hole DH
Hole ----------------- Depth Dip/ From To Width
No. Northing Easting (m) Az. (m) (m) (m)
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KD001 8,972,612 564,488 543.76 Vert. 0 454 454
(Incl.) (72 94 22
470 500 30
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KD002 8,972,446 564,392 512.3 Vert. 96 512.3 416.3
(Incl.) (368 512.3 144.3
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KD003 8,972,658 564,624 300 -50/40 40 112 72
126 142 16
170 258 88
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KD004 8,972,658 564,624 195 -50/320 12 168 156
(Incl.) (62 124 62
KD005 8,972,240 563,560 300 -50/150 - - -
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Hole Au Ag
No. Cu% g/t g/t Mo ppm
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KD001 0.13 0.23 1.95 15
0.5 0.72 2.91 less than 10)
0.12 0.13 2.73 53
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KD002 0.27 0.25 1.78 114
0.35 0.36 2.11 122)
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KD003 0.18 0.34 2.67 115
0.1 0.66 0.66 87
0.2 0.14 2.05 120
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KD004 0.37 0.46 1.75 93
0.46 0.6 1.94 73)
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KD005 - - - -
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Results greater than equals 0.2% copper equivalent
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The main 156m long interval of mineralisation in KD 004 is equivalent to approximately 0.57% copper equivalent (using approximately current metal prices to calculate a conversion ratio of 2.2597 gold ppm equals 1% copper equivalent). A higher grade internal interval to the main zone cut 62m grading 0.46% copper + 0.60g/t gold + 73ppm molybdenum from 62m depth, being approximately 0.73% copper equivalent. Individual peak assays in the hole are 1.08% copper, 1.67g/t gold and 372ppm molybdenum. The drill hole intersected biotite biotite (bī`ətīt'), iron-rich variety of phlogopite, most abdunant of the mica minerals. biotite or black mica Silicate mineral in the common mica group. dominated potassic alteration, with a propylitic overprint o·ver·print tr.v. o·ver·print·ed, o·ver·print·ing, o·ver·prints To imprint over with something more, especially to print over with another color. n. 1. A mark or impression made by overprinting. in diorite porphyry to 150m depth, with good development of quartz-chlorite-magnetite-pyrite-chalcopyrite veining vein·ing n. Distribution or arrangement of veins or veinlike markings. and fine vein stockworking. Marginal phyllitic metasediments to end of hole at 195m contained weak argillic alteration. The best developed copper and gold mineralisation occurs within the altered diorite porphyry, but as in other drill holes completed to date, mineralisation extends well into the marginal phyllitic metasediments (from 150m depth). The best molybdenum mineralisation occurs within the metasediments and the last 8m of the hole sampled averaged 223ppm molybdenum. The remaining 25m of the hole will be sampled at a later date to assess its molybdenum (and copper/gold) potential. The magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. bearing propylitic assemblage is now regarded as critical for significant mineralisation at Kodu and its existence explains the close relationship between mineralisation and magnetic features (analytical signal anomalies). Results from KD004 and the recognition of the critical mineralised assemblage strongly reiterates potential of other untested analytical signal anomalies elsewhere in the Kodu area. A plan and cross section will be posted to the website. Mr. Peter Ruzicka Peter Ruzicka (born July 3, 1948) is a German composer of classical music. Ruzicka was born in post-war Düsseldorf, and studied music at the Hamburg Conservatory. In 1969, his cantata, Esta Noche, won a prize, and in 1972, he won the Bach Prize Scholarship. (B.Sc., B.App.Sc.) is the qualified person supervising the Kodu exploration program as reported herein by Mr. Peter McNeil (B.Sc., M.Sc.). Assaying was completed by ALS-Chemex, one of the worlds largest assay laboratory groups, in Townsville, Australia. South Pacific Minerals Corp. is at the forefront of mineral exploration in Papua New Guinea, with an effective 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. 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 SPZ Schützenpanzer (German; armoured personnel carrier) SPZ spätzle (dorsoventral patterning, genetics) SPZ Simplified Planning Zone SPZ Socionet Personal Zone SPZ South Park Zone ) |
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