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Company Triple Plate Junction Plc
TIDM TPJ
Headline

Manus Island Update

Released 08:10 12-Feb-2013
Number 6785X08

RNS Number : 6785X
Triple Plate Junction Plc
12 February 2013
 



Triple Plate Junction Plc

("TPJ" or the "Company")

 

Newcrest Joint Venture - Manus Island Project

Arie Porphyry Prospect - Drilling Results -

Change of Registered Office

 

TPJ, the AIM-listed exploration company focused on South East Asia, has received assay results for the three holes drilled at the Arie porphyry copper-gold prospect on Manus Island, Papua New Guinea.  The three holes complete an initial diamond drilling exploratory programme totalling 1,414 metres conducted by TPJ's joint venture partner Newcrest PNG Exploration Limited, a subsidiary of Newcrest Mining Limited (ASX:NCM) one of the world's leading gold companies.  

 

The three inclined holes, collared at spacings of about 350m and 200m respectively, returned low-grade but extensive copper-gold mineralization, including narrow significant copper values of 1-2% in isolated 1m core samples.  

 

Hole AD0001adrilled to a depth of 528m intersected 518m of 0.16% Cu and 0.06g/t Au from 2m, including 15.0m of 0.29% Cu and 0.06g/t Au from 275m, and 12.31m of 0.4% Cu and 0.06g/t Au from 376m.

 

Hole AD 0002drilled to a depth of 405m intersected 357m of 0.23% Cu and 0.07g/t Au from 12m, including 11.7m of 0.5% Cu and 0.18g/t Au from 199.3m; 12.0m of 0.44% Cu and 0.13g/t Au from 252m; 16.2m of 0.40% Cu and 0.06g/t Au from 302m, and 15.2m of 0.39% Cu and 0.08g/t Au from 354.2m.

 

Hole AD0003drilled to a depth of 481m intersected 422m of 0.24% Cu and 0.06g/t Au from 8m, including 12.0m of 0.47% Cu and 0.13g/t Au from 261m and 95.0m of 0.39% Cu and 0.10g/t Au from 309m.

 

Following receipt of a cash call for the Company's contribution to the Manus Island project joint venture costs to the end of September 2012 the Company has elected to not contribute its pro rata amount and accordingly to have its participating interest in the Manus Island JV project diluted from 15.2% to 11.73%. A further cash call for work undertaken at the JV project for the quarter period ending 31 December 2012 is expected in due course.

 

Mt Dremsel Prospect - Lithocap Mapping and Sampling

 

The mapping and sampling of the Mt Dremsel Range lithocap has been completed. The rock and spectral analyses and the soil geochemistry indicate anomalous areas near Mt Dremsel and Mt Tapalow. A review of the Mt Dremsel lithocap rock and soil geochemistry will be undertaken in conjunction with the spectral lithocap mineralogy, geological mapping and heli-magnetic data.

 

NOTE: The results in this announcement are reported on the basis of greater than 10m down-hole intercepts grading > 0.1% Cu and containing less than or equal to 17m of continuous < 0.1% Cu internal waste in the case of Hole AD0001a, and less than or equal to 9m of continuous < 0.1% Cu internal waste in the case of Holes AD0002 and AD0003.   

 

 

 

 

Change of Registered Office

 

The Company announces that the new registered office of the Company is at c/o Gowlings (UK) LLP, 15th Floor 125 Old Broad Street, London EC2N 1AR.

 

Enquiries

 

Triple Plate Junction plc

+44 (0)7775 693 237

Fraser McGee

 


finnCap Ltd

+44 (0)20 7220 0500

Matthew Robinson/Christopher Raggett

 


 

Competent Person Review

 

TPJ Exploration Director Bill Howell, as a Fellow of the Australasian Institute of Mining and Metallurgy and with 45 years of relevant experience in mineral exploration including more than 40 years in porphyry copper-gold exploration, is qualified as the Competent Person for the purposes of this release.  He has reviewed and approved its contents.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Manus Island Update - RNS