After receiving the final batch of assay results from the 2016 infill and proximal drilling campaign, Era Resources expects to release an updated resource estimate for the Yandera Copper Project in Papua New Guinea by the end of the year.
The estimate will incorporate all the results from the campaign and will precede prefeasibility work on the project, which is expected to begin in 2017.
The goal of the 2016 drilling campaign was to advance a large porphyry copper system in the highlands of PNG, and Era says the results have been very positive for identifying additional copper mineralisation that is likely to convert new material to resource.
The program encountered good additional copper mineralisation in gaps within the footprint of the 2015 resource model and intersected good mineralisation outside the boundaries of the 2015 resources.
Drilling results within the 2015 resource, such as 196.7 metres averaging 0.278% copper in the Dengru area, 78 metres averaging 0.374% in the South Dimbi area and 144.9 metres averaging 0.296% in the Dimbi area, should convert significant volumes of waste to good grade resource.
Drilling results at the periphery of the 2015 resource, such as 218.7 metres averaging 0.201%, including 33 metres averaging 0.526% in the South Dimbi area, 78 metres averaging 0.432% in the Benbenubu area and 69 metres averaging 0.284% in the East Gremi area, are likely to add resource and suggest excellent potential for resource growth to the southeast with future exploration.
Collectively, the 2016 drilling results are expected to expand the resource estimate and improve the internal waste to resource ration in portions of the modelled open pit shells.
Era Resources’ CEO Pieter Britz said, “We are very pleased to see results of this calibre. The work in 2016 has produced valuable data for refining and expanding the resource. We remain very excited about the potential at Yandera.”