Stay informed via our Email Newsletter. Sign-up today for the latest in Projects, Stocks & Exploration.
The Waria River project comprises three exploration licences (EL 1271 & EL 1732: PPM earning 50% interest; EL 1683: PPM 100%) covering 731 km2 in the Central New Guinea Range (Fig 1). The project is basically underlain by a similar geology as found at the Mt Suckling project.
The Waria River tenements straddle the trace of the Owen Stanley Fault Zone and (in part) the Timeno Fault. The Owen Stanley Fault Zone is contiguous with the KFZ, some 350 km to the southeast. These fault systems separate rocks of the Australian plate from those of the Pacific plate. The intent of the airborne magnetic and radiometric geophysical survey is to fast track exploration in the Waria River, a region known for its abundant pannable gold and platinoids. known since the early gold discoveries and dredging and lode mining operations of the1920s-1950s in the nearby Wau-Bulolo valleys. The Waria River area has received little modern day exploration. However, recent work conducted by PPM’s has, for the first time, identified Cu +Au mineralization in outcrop, with Cu samples as high as 1.74 %. The project is considered highly prospective for Au-Cu porphyry style mineralisation.
Godom Creek prospect is located in a western tributary of Goroa Creek and was discovered by a PPM panned concentrate result of 55.6 ppm Au. Many of the follow-up pan concentrates from the Godom Creek drainage contained significant gold anomalies. A 22 km zone of argillically altered phyllite shedding abundant gossan float has been identified in the area of panned concentrate gold anomaly. A pervasively silicified float sample of phyllite with quartz-sulphide veins assayed 2.7 g/t Au.
Many rock samples from the Kode Creek-Salima Creek gold-copper prospect contain anomalous gold and copper values in brecciated chalcopyrite-bearing quartz. Best results include 1.21 % Cu, 1.32 g/t Au (outcrop) and 1 % Cu, 1.14 g/t Au (float). Many other samples contained gold and copper values of around 0.10 g/t and 0.10 % respectively, suggestive of a porphyry copper signature.
Goroa Creek cumulate layered Pt-Pd prospect. The Goroa Creek Pt-Pd propsect is located 175 km NNE from Port Moresby, at the NW end of the Papuan Ultramafic Belt. Irregularly spaced creek-side outcrop grab sampling from across the stirke of the Goroa Creek mafic-ultramafic sequence has identified three cumulate-layered PGM reefs, the first occurrence of such mineralisation in the SW Pacific (Fig 2). All three reefs occur in a layered gabbro sequence. Pt:Pd ratios of >1 are typical of cumulate-layered PGM mineralization.
The lowermost 'Reef' 1 is located near the base of a plagioclase- and sulphide-rich gabbro, immediately above its contact with utramfics. A single sample from the reef assayed 244 ppb Pt+Pd. A second thicker 'Reef' 2 occurs in the upper part of the plagioclase- and sulphide-rich gabbro unit and straddles the contact with overlying weakly layered plagioclase-poor gabbro. This reef is about 100m thick and averages 60 ppb Pt+Pd. Highest assay is 114 ppb Pt+Pd. A third narrower 'Reef' 3 is present in the upper part of the weakly layered plagioclase-poor gabbro unit. Highest assay is 96 ppb Pt-Pd and the average is 54 ppb Pt+Pd.