Perth-based Augustus Minerals is looking to increase its exposure to Papua New Guinea’s mining sector, and has applied for an exploration licence in the Kira Koiari district of Central Province.
The licence area ELA2955 is located in the Vanapa River region, around 35km north of Port Moresby and 40km along strike from the Tolokuma gold mine, operated by Tolu Minerals.
The licence are is part of the New Guinea metallogenic belt, a 2,300km mineralised corridor running along the central spine and northern foothills of the island of New Guinea. It is regarded as one of the most prospective gold-copper melalogenic provinces in the world, and hosts several productive mine operations, including Tolokuma, Kainantu, and Porgera.
Augustus Minerals also has an application for a mining licence at the Mt Kare prospect, which is also part of the New Guinea belt but 600km north of Port Moresby and close to the Porgera mine, operated by New Porgera.
Augustus Minerals chief executive officer James Warren said the company had already established contac with local landowners in the Vanapa River area.
“This presents Augustus with a rare and unique opportunity to conduct true frontier exploration in an area synonymous with giant orebodies,” he said. “The application area has had little to no modern exploration activity and we’re excited to be the first company to be allowed to explore the region over such a large area.
“It is an extremely exciting time for Augustus shareholders as we progress our Mt Kare application whilst continuing to seek out and advance exceptional world class projects.”
Subscribe to PNG Mining and receive the latest news on product announcements, industry developments, commodities and more.
