Goldminex Resources is undertaking an initial diamond drilling program at its Liamu Project in the Owen Stanley Ranges.
It is the first drill program at Liamu and follows an intensive program of drainage geochemistry, mapping, hand trenching and rock chip sampling over the central fracture-controlled argillic-sericitic-silica altered portion of the project area.
A light-weight Kluane Drilling diamond rig has been mobilized to complete the initial phase of drilling.
The program is aimed at gaining a better understanding of the geological controls of mineralization and to test the continuity of gold and base metal anomalies at depth.
The program is nearing completion and it is anticipated that assay results will be available during August.
Goldminex is targeting large scale (greater than 2 million ounce gold equivalent) gold, copper and nickel resources in Papua New Guinea.
Elsewhere on the Liamu Project, several previously reported soil sample gold geochemical anomalies are being investigated with trenching and detailed infill sampling to define additional drill targets.
Drainage geochemical sample results received to date from within the porphyry hosted gold - base metal mineralized system indicate that the system remains open on a 3km wide zone to the south of the area under current investigation.
Drainage geochemical sampling has started in this region to identify extensions to the known 15sqkm mineralized area.