Project Fact Sheet
- Land area 9,300km2
- Population 234,280 (2011 Census)
- Largest Island of Solomon Island Archipelago
- Autonomous Region of PNG
- 98% yes vote for more independence (Nov 2019)
- Modern mining act (2015) vests mineral ownership with landowners
- No exploration since the mid-1970s
Figure 1: Location of ELs 03 and 04 in the Mt Tore region of North Bougainville.
- Build shareholder value by taking sound regional geochemical and geological data published by the PNG Geological survey in the late 1980s to target areas of likely copper-gold resource potential with modern exploration techniques.
“Upper Ramazon Anomalous Zone”
- A ~20km x 10km Au-Cu geochemical anomaly defined in 1980s by PNG Geological Survey interpreted to sit above an old large magma chamber.
- Contains 9 of 12 Priority 1 targets defined from 2018/19 aeromag survey.
Figure 2: Fathom Geophysics aeromag targets (thick red circles) sitting on top of PNG Geological Survey (1989) Au-Cu geochemical anomaly (red)
- Copper-gold mineralisation being defined at Melilup (rock chips up to 0.33 g/t Au and 0.14% Cu) requires detailed assessment (infill Geochem, geophysics and drilling).
- Broad, weak copper anomalism being defined in Aita region.
- Epithermal alteration with weak gold anomalism at Teoveane-Teosiri.
Figure 3: Melilup inferred geology and extent of copper mineralisation as of 30/12/2019
Future Work Program
- Landowner consultations and studies
- Infill Geochem and ground geophysics at Melilup
- Continue regional assessment of rest of URAZ
- Permit Drilling
- Drill H2 2020
Figure 4: Regional Mineralisation
Figure 5: Panguna Mine. Bogainville Island From Clark 1990.