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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 4 sources · 21 days · First seen · Last updated
Mineral exploration in Papua New Guinea
Overview
Mining activities in Papua New Guinea have seen significant developments regarding mineral resource estimates and exploration results.
Tolu Minerals reported an 81% increase in the Mineral Resource Estimate for the Tolukuma gold mine following intensive drilling and geological modeling. The updated estimate includes 909,000 ounces of gold and 3.9 million ounces of silver. While the average gold grade decreased to 6.57g/t due to the larger volume of material, the company intends to return the mine to production by early 2027.
Concurrently, Taruga Minerals announced positive exploration results from the Kol Mountain Copper-Gold Project in East New Britain. Assay results from rock chip sampling identified copper-molybdenum signatures and high-grade skarn float results, including up to 2.33% copper and 9.4 g/t silver. The company noted that these assays confirm surface copper and high-grade copper float skarn at the site.
Entities
Timeline
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[BUSINESS] 3 sourcesTaruga Minerals reports copper and gold results in Papua New Guinea
Taruga Minerals reported promising copper, molybdenum, and gold exploration results at its Kol Mountain Project in Papua New Guinea, highlighting high-grade skarn and porphyry-style signatures.
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[BUSINESS] 2 sourcesTolu Minerals increases Tolukuma gold resource by 81%
Tolu Minerals reported an 81% increase in the Tolukuma gold mine resource estimate in Papua New Guinea, bringing its total gold inventory to over 1 million ounces as it prepares for a 2027 production restart.
Sources
finnewsnetwork.com.au · sharecafe.com.au · smallcaps.com.au · stockhead.com.au