PNG field activities increase for Marengo Mining

摘要

Western Australian junior Marengo Mining Ltd planned to start drilling at its wholly-owned Yandera project in the Madang Province of Papua New Guinea during mid-April. Managing director Les Emery said two diamond rigs would be mobilised over six months, drilling a 10,000 metre diamond core program to prove up a JORC resource. "This will form the basis of a pre-feasibility study in 2007, but we hope to have the JORC resource complete by the last quarter of 2006," he explained. Yandera was discovered by Australian Government geologists in the late 1950s and explored by BHP and Kennecott Exploration Ltd in the 1960s and 1970s, with more than 20 million US dollars spent on exploration and several non JORC-compliant resource estimates produced.