RNS!16 Dec 2010 13:57
FOR: NAUTILUS MINERALS INC.
TSX, AIM SYMBOL: NUS
December 16, 2010
Nautilus Minerals Intersects More High Grades at Depth
TORONTO, ONTARIO--(Marketwire - Dec. 16, 2010) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS). Deepwater seafloor
drilling trials conducted at Nautilus Minerals' Solwara 1 Project in Papua New Guinea have confirmed the
extension of high grade copper mineralisation beyond the project's previously identified massive sulphide
system.
Nautilus' CEO, Steve Rogers, said the company is encouraged by the initial results from the trials.
"A number of milestones have been achieved," he said. "The drilling supports our view that the Solwara 1
resource is likely to extend beyond the previously identified limits and remains open at depth. The focus now
is to optimise core recovery and drilling efficiency of the drilling system, to improve results so that we can
enhance Nautilus' knowledge of the resource and other Bismarck Sea discoveries".
The trials involved 16 holes drilled at 13 locations approximately 1600 metres below sea-level and extending to
a maximum depth of 45.2 metres below the seafloor.
Preliminary analysis of recovered drill core has shown the presence of high grade mineralisation at all sites,
with four holes intersecting high grade copper well below the base of the previously modeled massive sulphide.
Copper grades of up to 30.5% were reported from individual sample intervals and results included an eight meter
intercept averaging 12% copper. These results were based on hand held X-ray fluorescence (XRF) analyses.
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