お知らせ • Jul 08
South Pacific Metals Corp Reports Outstanding Assay Results From Drill Hole ONED26-009 At Ontenu Project
South Pacific Metals Corp. announced outstanding assay results from drill hole ONED26-009 at its 100%-owned Ontenu Project, located adjacent to K92 Mining's Kainantu gold-copper mine in Papua New Guinea. The results represent a significant step forward to confirming the Company's hypothesis that Ontenu hosts high-grade epithermal gold-copper veins. Drill hole ONED26-009 successfully targeted the Megabe structure, a NW-trending mineralised corridor located between the Jorkol and Onki zones in the Ontenu NE prospect, and intersected multiple gold-bearing veins across a wide zone of mineralisation. Three intersections stand out for their grade and thickness: Table 1 - Summary Drill Results from ONED26-009: Zone 1: From 157.0m to 165.0m, 8.0m at 8.95 g/t AuEq, including 5.0m at 12.84 g/t AuEq, including 2.0m at 28.06 g/t AuEq. Zone 2: From 210.0m to 212.0m, 2.0m at 4.13 g/t AuEq. Zone 3: From 324.0m to 336.2m, 12.2m at 6.24 g/t AuEq, including 4.7m at 7.44 g/t AuEq, including 5.4m at 7.44 g/t AuEq, and 2.0m at 16.65 g/t AuEq. Zones 2 and 3 returned elevated silver assays (up to 262 ppm Ag in Zone 3). Au Eq based on 100% equal co-recoveries of Au, Ag & Cu using Au price of USD 4,180 per ounce, Ag price of USD 62 per ounce and Cu price of $6.20 per lb. Intervals are reported as downhole length. True widths have not yet been determined pending further structural interpretation. The high-grade intersections in Zones 1 and 2 are interpreted as the along-strike continuation of previously announced, 'hanging wall' mineralisation intersected in hole ONED26-007, providing early evidence of grade and structural continuity along the Megabe vein system. Hole ONED26-009 intersected this 'hanging wall' mineralisation about 75m along strike to the southeast from the ONED26-007 intersection. Zone 3 forms the Megabe structure and confirms significant width and high-grade mineralisation. These results support a vectoring model pointing towards higher-grade zones to the southeast and at depth. The Company considers these results significant for several reasons: They confirm the Company's geological hypothesis that the Ontenu project hosts high-grade epithermal Au-Cu veins comparable in style to those being mined at the neighbouring world-class Kainantu operation. They provide the good evidence for along-strike continuity of one of the high-grade veins between holes ONED26-007 and ONED26-009. Two of the three zones (Zones 1 and 2) contain a higher-grade gold core. The distribution of grade within hole ONED26-009 and comparison with results from other holes will help the Company vector towards higher-grade mineralisation. Results to date suggest the priority direction for follow-up drilling is to the southeast and at greater depth. The Megabe structure is only one of multiple NW-trending mineralised structures identified at Ontenu NE, with similar structures also recently identified at Ontenu Central. The Company has now identified mineralised structures over a five-kilometre trend at Ontenu, of which only small portions of three structures, Jorkol, Onki and Megabe, have been drill-tested to date. At least five further known structures remain entirely undrilled. The mapping and drilling are starting to show that there are more mineralised structures in this area than previously thought. Drill holes ONED26-010 (a separate structure 150 metres SW of Megabe) and ONED26-011 (75 metre step-out to SE from ONED26-009) have been completed and are being logged and sampled in preparation for assays. Holes ONED26-012 (150 metre step-out SE from ONED26-011) and ONED26-013 (100 metre step-out NW from ONED26-009) are being drilled. Drilling at Ontenu will continue, with one more hole planned to test the Megabe structure further along strike to the NW. Subsequently the Company will commence testing of additional undrilled structures identified across the broader project area, including Ontenu Central. Table 2 - All Individual Assay Results Used in Intercept Calculations: Hole ID From (m) To (m) Au (g/t) Cu (ppm) Ag (ppm) ONED26-009 157 158 7.54 993 20.2 ONED26-009 158 159 1.61 364 13.1 ONED26-009 159 160 0.16 154 5.3 ONED26-009 160 161 1.00 317 8.1 ONED26-009 161 162 38.72 1237 22.1 ONED26-009 162 163 16.18 3025 31 ONED26-009 163 164 4.83 1279 21.4 ONED26-009 164 165 1.59 247 4.2 ONED26-009 210 211 4.39 1971 39.2 ONED26-009 211 212 2.14 2135 49.8 ONED26-009 324 324.7 2.94 1060 44.2 ONED26-009 324.7 325.7 6.79 5800 47 ONED26-009 325.7 326.7 7.54 3428 31.9 ONED26-009 326.7 327.7 1.04 696 9.5 ONED26-009 327.7 328.7 11.37 1382 85.9 ONED26-009 328.7 330 0.26 131 3.1 ONED26-009 330 330.8 0.54 169 4 ONED26-009 330.8 331.6 8.41 1598 237.2 ONED26-009 331.6 332.3 2.77 5454 131.1 ONED26-009 332.3 332.8 1.91 1701 4262.1 ONED26-009 332.8 333.8 1.02 724 47.4 ONED26-009 333.8 334.7 2.20 2468 27.1 ONED26-009 334.7 335.3 1.06 503 7.6 ONED26-009 335.3 336.2 2.52 661 7.2. Hole ID From (m) To (m) Au (g/t) Cu (ppm) Ag (ppm) Table 3 - Drill Hole Details (Coordinates in WGS 84, Zone 55): Hole ID Easting Northing Elevation Azimuth Dip Total Depth ONED26-009 366160 9295800 1889 219.9 -59 371. All drill holes are logged on site by the Company's geology team. Drill core (PQ or HQ) is half-cut, with samples secured and shipped to Intertek Laboratory in Lae, Papua New Guinea. Gold is assayed by 50g fire assay with AAS finish (FA50/AA); copper and silver are assayed by 3-acid digest with AAS finish (PGGA03) at Intertek Lae. Sample pulps are subsequently sent to Intertek in Perth, Western Australia, for multi-element ICP-MS analysis using a 4-acid digest (4A/MS) (hole ONED26-009 is pending the multi-element ICP-MS work). Two certified reference materials (standards), one blank and one duplicate are inserted within each batch of 100 samples to monitor laboratory performance. The technical and scientific information in this news release has been reviewed and approved by Dr. Darren Holden, B.Sc. (Hons), Ph.D., FAusIMM, a technical advisor and consultant to the Company and a 'Qualified Person' as defined under National Instrument 43-101. Resource information is drawn from the independent technical report dated November 18, 2022, prepared by Graeme J. Fleming, B.App.Sc., MAIG, and available under the Company's profile on SEDAR+.