Drilling intersects mineralized zone at Ofi Creek, Papua New Guinea
Western Pacific Gold Inc WPI
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Tue 21 Oct 97 News Release
Mr Nicholas Mather reports
Ofi Creek, Papua New Guinea
The first 300m drill hole has been completed on the northern side of the
skarn mineralized zone and has intersected fractured and mineralized zones
of porphyry and phyllically altered schist. Drill hole BND08 returned 297m
at 0.35% copper and 0.32 g/t gold, including 100m from 200m at 0.61% copper
and 0.59 g/t gold. This corresponds to an average copper equivalent grade
of 297m at 0.48% copper equivalent, and 0.88% copper equivalent from
200m-300m depth. The drill hole ended in mineralized rock with frequent
intersections above 1% copper in the last 100m. WPI may re-enter the drill
hole at HQ core size.
The drilling program at EL1014 Ofi Creek, Papua New Guinea is proceeding on
schedule and budget. Further drill hole sites have been selected to test
the southwest, northeast, northwest and southern extensions to the
mineralized zone. Drill hole BND09 has been completed and intersected
fractured and porphyritic rocks over its entire length. BND09 assay results
are expected within two weeks. Drilling is currently proceeding in drill
hole BND10 on the northwestern side of the orebody, testing a zone of
elevated copper anomalism, fracturing and sulphide mineralization.
Modeling of magnetic data suggests that prospective porphyry intrusions may
be present under phyllic alteration zones on the south side of the known
mineralized zone. To the northeast, WPI believes that soil and vegetation
cover has masked the magnetic expression of the mineralized zone. Previous
soil sampling by BHP has tested the humic layer and WPI will test the
deeper parts of the soil profile by auger sampling in order to substantiate
the extension at surface.
Northwest trending fracture and shear systems are believed to have
dislocated the porphyry down and to the northwest on the southeastern end
of the mineralized zone. WPI plans to test this zone for concealed copper
porphyry style mineralization, peripheral zinc, silver and gold zones and
an overprinted epithermal gold zone. Values up to 20 g/t gold have been
recovered by BHP Minerals exploration in 1995 from the Ofi Creek drainage
believed to be sourced in this zone. In addition, there is considerable
potential to improve the grade of the deposit in its central zone by
drilling across mineralized fracture sets, believed to dip southeast and a
further previously unidentified set striking northwest, and on the
epithermal gold overprint zones.
The current 1500m diamond drilling program is expected to take
approximately two months to complete. WPI is earning a 51% interest from
BHP Minerals by completing expenditures of $2,000,000 by August 1999. BHP
has estimated that Ofi Creek currently contains a geological resource of 85
million tonnes at a grade of 0.6 g/t gold and 0.4% copper. WPI believes
that there is potential to at least double the size of the resource.
Gold assays are by fire assay with AAS finish from one-half of the PQ size
core, with copper, silver, lead and zinc assays by acid digest, ASS finish.
Half the core is retained for future reference. All assays are carried out
by Analabs in Townsville, North Queensland, Australia. Analabs is a
registered National Association of Testing Authorities laboratory.
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