Aldridge Minerals discovers gold in highlands

Business, Main Stories

The National- Thursday, January 20, 2011

 CANADIAN mining and exploration company Aldridge Minerals Inc has discovered large-scale copper-gold mineralisation in a number of outcrops from its 100%-owned 450km2 licence in the highlands of Papua New Guinea.

The company’s licence is located between the giant copper-gold deposits of Ok Tedi (150km west), Frieda River (130km north-west), and Porgera (50km east). 

A geological report compiled by Dr Yves Cheze received this year has outlined that the Aldridge 2009 field campaign found copper-gold mineralisation in a number of outcrops, with a total of 357 soil, 65 stream sediment, 76 rock chip and 23 channel samples collected and assayed from an area informally named “Mag1”. 

Aldridge is now planning a potential Mag1 follow up field campaign this year, including further mapping, soil and rock sampling alongside geophysical work to determine sulphide concentrations, to be followed by a first-round drill programme later in the field season.  

 Cheze’s report identified that the main mineralised zone is located on a NW-SE-trending ridge and its southwestern flank, at an elevation of approximately 1,300-1,650m lying above the Logayiu River.  

Aldridge chief executive and exploration manager Dr Martin Oczlon said: “We are thankful to Yves for his solid approach to this project and the amazing job he did in adverse field conditions. 

“The mineralisation footprint and geological setting of Ok Tedi are similar to our Magi1 discovery,” he said.