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Malaumanda Gold & Gold Copper project

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  • Deposit Type: Porphyry
  • Commodity: Gold
  • State/Province: East Sepik Province
  • Country: Papua New Guinea
  • Latitude: 4° 52' 56'' S
  • Longitude: 143° 5' 8'' E
  • Deal Type: Joint Venture
  • Conditions:
    (i). Looking for a major Joint Venture (JV) partner.


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Regional & Country Geological Setting

Malaumanda gold and gold/copper project with has 225km2 area size is located on the central New Guinea Orogenic Belt that has proven to host some of the world class gold and gold/copper mines and deposits. It is within this structural corridor that hosts some of the massive deposits such as Wafi-Golpu (30Moz Au & 9Mt Cu) deposit, Ok Tedi mine (16Moz Au & 8Mt Cu), Lihir mine (50Moz Au), Hidden Valley mine (5.4Moz Au), Panguna mine (16Moz Au & 5Mt Cu), Yanderra deposit, etc...all in Papua New Guinea (PNG).

And continues onto Grasberg mine (52Moz Au & 70Mt Cu) of Papua province on the Indonesian side of the international border sharing with Papua New Guinea (PNG).

Also refer the ''Geological Framework & Mineralization of PNG Update Report (pages 37-40) in 2012'' by the Mineral Resources Authority (MRA)/Mining Department for the state. The report fully highlights the Nena-Frieda and Wafi porphyry-epithermal Cu-Au hydrothermal systems (including Malaumanda/Korosameri) represents some of the main Events related to the Maramuni Event located on the New Guinea Orogenic Belt. Visit website: www.mra.gov.pg/Portals/2/Publications/Geological

The project is within the portion of the island of New Guinea. Geologically, it forms the continuation of the Southwest Pacific ''Rim of Fire ''from Papua New Guinea through to the Tampakarn porphyry (gold-copper) in Philippines. This belt has been susbjected to repeated cycles of volcanic and sedimentary activity and associated mineralisation for millions of years through to the present. Mineral deposits of various ages have been progressively uplifted and exposed by erosion along the length of the Rim of fire.





Malaumanda Geological Location

Locally,Malaumanda is centered about 60km north of the world class Porgera mine (32Moz Au) owned by Barrick Gold, 75km north of Mt Kare deposit (2.1 Moz Au), 135km west of Nena-Frieda River (20Moz Au & 13Mt Cu) deposit under Mining Lease by PanAust Ltd.

Mineralisation at Malaumanda also appears to be concentrated along the North-NorthEast transfer structures, one of these structure is believed to be the strike extension of the transfer structures localizing Porgera mine & Mt Kare deposits with high potential for epithermal (gold) deposit.

Completed a regional interpretation of Aeromagnetic data from the PNG government’s recent regional program confirmed Malaumanda and surrounding areas has high potential for major deposits.

Drill Results with High Grade Gold

Find below are selected drill results from the 3 main prospects:

(i). DDH MK4 Intercept 2m at 19.7g/t Au and 14m @ 4.29g/t Au

(ii). DDH MK5 Intercept 14m at 3.66g/t Au and 1% Cu from 32.1m
Including 4m at 11.3g/t Au

(iii). DDH MK6 Intercept 20.8m at 5.68g/t Au from 34.91m
Including 2.15m at 51g/t Au from 34.91m (visible gold reported in core)
and 3m at 10.98g/t Au from 42.2m

(iv). CMK03-01 Intercept 12m at 5.8g/t Au from dept of 25.3m
Included 3.06m at 21.62g/t Au from 34.2m

(v). DDH CLT04-1 Intercept 10m at 4.479g/t Au from 113.m to 123m dept
Intersected the mineralized zone from 100.4 to 126.8m

High Potential for world-class deposit

All the five prospects that are about 5-7km away from each other have been drill tested and have high gold values. It is also evidence with several targets extends from the project out onto to the Yokopas property surrounding the Malaumanda project (EL1989) with the recent aeromagnetic interpretation.

A ''boulder float assayed returned 500g/t gold'', located 5km southwest of the main Milikap prospect down from Mt Pokolu need immediate follow up. Currently locals are extracting a minimum of 5-20g gold p/day by panning alone upstream at the location.

Milikap prospect is only at the foot of Mt Pokolu, where one of the historic diamond drill hole returned ''20.8m @ 5.68g/t Au and 3.m @ 10.98g/t Au'' and others.

Malaumanda has the potential to host another world-class gold and gold-copper deposit/mineralisation. Unfortunately, only junior exploration firms lacked finance and failed to properly explore its potential on the property since its discovery.

Locally Mineralized Area

Historic diamond drilling identified high grade gold mineralisation all the prospects include gold vein at the Lodon Top prospect.

Local prospectors recently discovered the Wakunon prospect extracting gold on floats and a minimum of 5g gold per day with panning at the South Yape.

The potential of Malaumanda (EL1989) is also indicated by widespread mineralization that occurs within the project where alluvial gold is panned in almost all the creeks, streams and colluvial gold is extracted at the main Milikap prospect within the license.

INVESTOR CONFIDENCE IN THE COUNTRY

(i). Most of the major international Mining companies already have investments worth multi millions/billions dollar in the industry. They are; Lihir Ltd/NewNewcrest Mining, Barrick Gold, Harmony Gold, PanAust Ltd, Marengo Mining, Rio Tinto, Highlands Pacific, etc...

(ii). Apart from the mining industry, Exxon Mobil and others invested a US$15 billion single LNG project in the country . And InterOil lead of Canada is also setting the the 2nd LNG project valued at US$6 billions dollars on a single massive oil discovery. Royal Dutch Shell just returned after 6 years.

Now the world is talking about PNG, a island of gold flooting on the sea of oil!


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