Marengo Mining uncovers evidence of high grade zone at Yandera
Date
10/17/2012 2:14:10 AM
(MENAFN- ProactiveInvestors - Australia) Marengo mining (ASX: MGO) continues to receive high grade assays from drilling at its Yandera Copper Molybdenum Gold Project in Papua New Guinea's Madang Province.
Notable results include:
- Omora Zone, 165 metres at 1.08% copper and 381ppm Molybdenum including 66 metres at 1.8% copper and 574ppm Molybdenum
- Gremi Zone, 186 metres at 0.89% copper and 232ppm Molybdenum
- Imbruminda Zone, 270 metres at 0.8% copper, 264ppm Molybdenum and 0.58 grams per tonne (g/t) gold including 90 metres at 1.73% copper, 585ppm Molybdenum and 0.51g/t gold.
The drill results will be included in the mine planning, being undertaken as part of Marengo Mining's Feasibility Study, which is nearing completion.
They provide strong evidence of high grade zones, which are expected to enhance revenues and cash flows from mining in the early years of the targeted 20 year operation at Yandera.
Yandera has a total Measured and Indicated Resource of 362 million tonnes at 0.43% copper while its Inferred Resource currently totals 218 million tonnes at 0.37% copper.
The project is located 95 kilometres southwest of the northern seaport of Madang within the highly prospective New Guinea Copper-Gold Belt.
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