Project Fact Sheet

About Bougainville

  • 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.

Our Strategy

  • 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.

Targets

“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)

Recent Results:

  • 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

Other figures:

Figure 4: Regional Mineralisation

Figure 5: Panguna Mine. Bogainville Island From Clark 1990.