LONDON (Alliance News) - Papua Mining PLC on Thursday said drilling work at the Tripela licence has been extended and said independent tests confirmed the prospect is likely close to a fertile mineralised copper porphyry.
Papua said the drilling programme as Tripela in Papua New Guinea is progressing, with all four of the initial drillholes intersecting inner-propylitic alteration. Owing to the positive results, the company has extended the planned 4,000 metre programme.
The company now intends to drill an additional hole at the site as part of the current programme and expects the current drilling will be completed in March, with a full report to follow.
Papua shares were trading flat at 14.5 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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