By SINCLAIRE SOLOMON
MARENGO Mining chairman John Horan said last Friday he was very pleased to report significant progress by the company during the past 12 months towards its goal of developing the Yandera copper-molybdenum-gold project in Madang.
He said in the Perth-based company’s 2010 annual report that efforts had been concentrated on drilling within the Yandera central porphyry, with five diamond core drills operating for a good part of the field season.
“The focus has been on infill and strike extension drilling and, more recently, the first deep drilling ever undertaken on the Yandera project.
“The first two of four deep drill holes have been completed to approximately 1,000m, with good results. It is planned to have the four initial deep holes completed by the end of this year.”
Horan said the identification of a deeper system opened up a new exploration opportunity within the Yandera central porphyry system, with the potential to add significant value to the project.
The results to date confirmed that the large porphyry copper-molybdenum systems at Yandera extended at considerable depths below the current JORC resource boundaries, he added.
Horan also said that in other notable activity, a contract had been awarded for a full study on the provision of hydroelectric power to Yandera.
“Hydroelectric power is an important inclusion into the DFS (definitive feasibility study), and its ultimate implementation would be a significant economic contributor, as well as an important leverage point for the project.
“Work is underway on a contract awarded for the collection of a final bulk metallurgical sample for testwork to establish processing parameters for the recovery of copper and molybdenum sulphide concentrates.”