PERTH (miningweekly.com) – Dual-listed Marengo Mining has updated the resource estimate for its Yandera copper/molybdenum/gold project, in Papua New Guinea.
The ASX- and TSX-listed developer said on Wednesday that the project was estimated to host a measured and indicated resource of 630-million tonnes, grading 0.33% copper, 0.01% molybdenum, and 0.07 parts per million (ppm) gold, as well as an inferred resource of 117-million tonnes, grading 0.30% copper, 0.005% molybdenum and 0.05 ppm gold.
This was compared with the 2012 resource estimate of 362-million tonnes of measured and indicated resource, at 0.43%, while indicated resources stood at 218-million tons, at 0.37% copper.
Marengo CEO Pieter Britz said that significant exploration work had been completed since the release of the 2012 mineral resource estimate, including drilling for infill and geotechnical purposes, and exploration drilling at the Dimbi and Rima deposits.
“In the coming weeks, we will be determining the next steps for the future development of the Yandera project,” Britz said.