Marengo Mining announces an updated NI 43-101 and JORC 2012 compliant resource estimate for its Yandera Copper Project in Madang Province. It is the first measured and indicated resource estimate that incorporates the contributing value of the molybdenum and gold that would be produced with the copper.
There are now measured and indicated resources of 630 million tonnes grading 0.33% copper, 0.01% molybdenum and 0.07 ppm gold; or 0.41% copper equivalent. There are inferred resources of 117 million tonnes grading 0.30% copper, 0.005% molybdenum and 0.05 ppm gold; or 0.34% copper equivalent.
The 2015 measured and indicated copper-equivalent resource estimate for Yandera represents an update of the 2012 resource estimate, which was evaluated on a copper-only basis.
The updated estimate incorporates positive infill/upgrade drilling results from the principal resource areas of Gremi, Imbruminda and Omora, and also at the Dimbi and Rima advanced exploration prospects. Resource tonnage has been refined by the addition of nearly 4000 new density measurements.
A reconstruction of the geologic framework also focused on host rock and structural controls from the first-time application of oriented drill core data.
Yandera is an igneous-hosted, structurally-controlled copper-moly-gold porphyry system comprised of a series of adjacent deposits along recognized structural trends. Mineralization is related to multiple pulses of intrusive rock and hydrothermal alteration. Broad tabular zones of copper mineralization extend from surface to depths of more than 500 metres and have been drill-defined to a strike length of more than 5km.
Marengo’s CEO Pieter Britz says, “We are pleased to report our 2015 resource estimate for the Yandera property. Significant exploration work has been completed since the release of the previous resource estimate in 2012, including drilling for infill and geotechnical purposes, and exploration drilling at Dimbi and Rima.
“The Marengo technical team has been working diligently since late 2014 to interrogate the Yandera data sets and geological models in order to understand and better define the resource at Yandera. In the coming weeks, we will be determining the next steps for the future development of the Yandera project.”